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Foreign Exchange Market: The Secrets Of Its Success
from:The foreign exchange market has many factors that make it unique. It has been described as the closest to pure competition that can exist, even though the international banks attempt to control and manipulate it. But what makes it so special, and why might you consider that you are more likely to be able to make money on the forex market than other forms of investment trading such as stock trading?
Trading Volume
The amount of money traded on the forex market daily is immense. The average daily turnover across the world is almost $4 trillion, according to a survey by the Bank For International Settlements in December 2007. The biggest trading center is London, followed by New York and Tokyo. However, the US dollar is the most traded currency.
Liquidity
The liquidity of a commodity is its ease of conversion to cash without impacting the value. Money is already money, so it is more liquid than any other asset. This means it is very easy to trade.
A Global Market
Forex is not traded in one place but all over the world. This means that, while of course it is affected by national events in the biggest financial powers, the effects are balanced out. Currencies do not have absolute value: a currency's value can only be measured in comparison with another currency. So if one currency falls in value, another will rise.
Compare this with the stock exchange where it is possible for the value of every company's stock to drop at the same time. All you can do in a major stock market crash is to withdraw your investment. But in forex, you can switch from the falling currency to the rising currency and still make money.
A 24 Hour Market
Currencies can be traded in different parts of the world 24 hours a day, five days a week. The foreign exchange market opens at 22.00 hours UTC Sunday in Sydney, Australia, where it is Monday morning, and closes at 22.00 hours UTC Friday in New York, where it is Friday afternoon. So whatever time of day or night you like to trade, you will have the opportunity, unless your only free time is on weekends.
Leverage
Leverage is where a small amount of something can be used to control a larger amount. In forex trading, leverage is related to the practice of trading on margin. You invest a small amount in your brokerage account and your broker lends you the rest, so that you do not have to put up the whole value of your position.
Forex trading offers more leverage than stock or futures trading. You may be able to control up to 200 times your account balance, depending on the broker. Higher leverage gives you the chance of bigger profits, but of course, there is also the risk of bigger losses. You will not necessarily want to take the maximum leverage on the foreign exchange market, especially in the beginning.
Foreign Currency Trading Broker News
Euro Rises as US Jobless Claims Drop, Easing Recovery Concern - Bloomberg
 Globe and Mail | Euro Rises as US Jobless Claims Drop, Easing Recovery Concern Bloomberg Australia's dollar rose to a four-month high against the US currency after a government report showed employers added more jobs than economists forecast. ... Japanese Bonds Advance for Second Day on Strengthening Yen, Stock Losses Japan's 10-Year Bonds Advance for Second Day on Falling Stocks Japan, China, Singapore, Thailand, Taiwan: Asian Bonds, Currency Preview |
Venezuela currency rationing hits home - Financial Times
Venezuela currency rationing hits home Financial Times A new law has formalised the exclusion of brokers from foreign currency trading, effectively sounded the death knell for brokerages, which Venezuela's ... |
NY Fed Survey: Dollar Holds As Most Widely Traded Currency - Wall Street Journal
 Reuters UK | NY Fed Survey: Dollar Holds As Most Widely Traded Currency Wall Street Journal Of the three instruments that are considered together as foreign exchange turnover, spot trading increased the most, up by 52% compared with 2007, ... Where's the Money in Forex? Global forex market hits $US4 trillion a day Forex Trading Volume Officially Hits $4 Trillion |
The Currency Trading Market - DailyForex
 MSN Money UK | The Currency Trading Market DailyForex Whether this is a good deal or not depends on the size of the spread in a given currency of course so the ultimate currency trading market broker chase is ... Forex Trading and How You Can Make Money Online |
Condolences to the currency professionals - Christian Science Monitor
 Christian Science Monitor | Condolences to the currency professionals Christian Science Monitor TD AMERITRADE Holding Corporation today announced that futures and spot forex (foreign exchange) trading capabilities are now available via the firm's ... |