What Should You Know About FOREX Trading Platform? Why Is It So Important?
What is the Foreign Exchange Market? FOREX trading platform allows traders to buy and sell currencies at the same time. Currencies must be traded in pairs (e. G. US Dollar / Euro). In other words, FOREX is the market addressed to those who want to perform conversion exchange operations according to an agreed rate for a given date.
The simultaneous buying of one currency and selling of another is determined by two factors. First of all, it's about companies making transactions in foreign countries, generating approximately 5% of the daily turnover. Secondly, we're talking the speculation for profit, which represents 95%.
What are the concepts that make FOREX work? First of all, you must know that 85% of daily FOREX trading uses major currencies like British Pound, US Dollar, Australian Dollar, Canadian Dollar, Euro and Japanese Yen. FOREX trading platform is open 24 hours a day; because of this great feature, traders can respond anytime to currency fluctuations.
FOREX market is considered an over-the-counter market, because transactions are conducted either by telephone or by electronic networks, having no central exchange.
It's not difficult to read a foreign exchange quote if you keep in mind two things: the first currency listed is the base currency and the value of the base currency is always 1. U. S. Dollar (USD) is normally the essence of the FOREX market and currently it represents the base currency for quotes. For example, a quote of USD / JPY 120. 01 means that 1USD = 120. 01 JPY.
FOREX trading platform works with two concepts- the BID and the ASK. The BID shows you the price at which base currency can be sold and the ASK represents the price at which base currency can be bought.
If you're ready to invest money, you can start using FOREX trading platform anytime. FOREX market transactions should be treated carefully, because you can loose everything. - 23159
The simultaneous buying of one currency and selling of another is determined by two factors. First of all, it's about companies making transactions in foreign countries, generating approximately 5% of the daily turnover. Secondly, we're talking the speculation for profit, which represents 95%.
What are the concepts that make FOREX work? First of all, you must know that 85% of daily FOREX trading uses major currencies like British Pound, US Dollar, Australian Dollar, Canadian Dollar, Euro and Japanese Yen. FOREX trading platform is open 24 hours a day; because of this great feature, traders can respond anytime to currency fluctuations.
FOREX market is considered an over-the-counter market, because transactions are conducted either by telephone or by electronic networks, having no central exchange.
It's not difficult to read a foreign exchange quote if you keep in mind two things: the first currency listed is the base currency and the value of the base currency is always 1. U. S. Dollar (USD) is normally the essence of the FOREX market and currently it represents the base currency for quotes. For example, a quote of USD / JPY 120. 01 means that 1USD = 120. 01 JPY.
FOREX trading platform works with two concepts- the BID and the ASK. The BID shows you the price at which base currency can be sold and the ASK represents the price at which base currency can be bought.
If you're ready to invest money, you can start using FOREX trading platform anytime. FOREX market transactions should be treated carefully, because you can loose everything. - 23159
About the Author:
Learn more about forex trading platform. Stop by John Eather's site where you can find out all about forex trading systems and what it can do for you.
posted by X - Men @ 5:54 AM
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