Forex Basics pg. 1
What
is Forex?
Whether
or not you are aware of it, you already play a role in
currency trading. The simple fact that you have money in
your pocket makes you an investor in a nation's
currency. By holding US Dollars, for example, you have
elected not to hold the currencies of other nations.
When a currency is traded, the transaction is carried
out on the Foreign Exchange market (also referred to as
the Forex or FX market). The Forex market is the largest,
most developed
financial market in the world, with over $2 trillion
changing hands every day!
Unlike other financial markets
that operate at a centralized location (i.e., the stock
exchange), the worldwide Forex market does not have a
central location. It is a
global electronic network of
banks, financial institutions and individual Forex
traders, all involved in the buying and selling of
national currencies. A major feature of the Forex market
is that it operates 24 hours a day, corresponding to the
opening and closing of financial centers in countries
all across the world. At any time, in any location,
there are buyers and sellers, making the Forex market
the most liquid market in the world.
Traditionally, access to the Forex market has been made
available only to banks, funds and other large financial
institutions. However, with advances in technology over
the years along with the industry's high leverage
options, the Forex market is now available to money
managers and individual retail Forex traders.
With some initial capital (as
low as $25 with M 5 Forex), and a computer with an
internet connection or cell phone with web access, you can become a participant in this
global and liquid financial market. The Forex
market is truly the most developed market in the world.
You can test the market
with a trading account that does not involve large
amounts
money
(as little as $25). Just fill out a simple and
quick Registration Form
to open your personal and private account.
You will receive an Email with your
WebTrader ID and a Secure Code. Click on the
Activation Link found in the Confirmation Email to
create your Personal Password. Once you've created
your password, you can
Log In and start trading!
This Forex Overview continues
with a quick, but detailed explanation of how forex trading works.
Continue by clicking on Next Page
