|
|
Frequently Asked Questions
|
What is the Forex?
The off-exchange retail Foreign Currency market (Forex).
Simply stated, it is the simultaneous buying of one currency
and selling of another. This is what happens when
you travel from one country to another and exchange your
currency for the local currency. This exchange can
also be used as an investment tool, as the exchange rate
between countries is constantly changing.
How can I start trading FOREX?
You'll need to register and fund a trading account with a reputable Forex broker. Our site will help in your selection of a broker. Then you can begin using their dealing station to buy and sell currencies.
Who owns FOREX and where is it located?
It's not owned by anyone in particular. Forex
is an international market, and its transactions are conducted
only between two participants – the seller and the
buyer. So as long as the existing banking system exists,
the Forex will be here. It is not connected
to any specific country or government organization.
What the working hours of Forex market?
Forex market is open 24 hours a day, from 22:00 GMT Sunday (open of the Australian trading session), until 22:00 GMT Friday (close of US trading session).
What is margin?
Margin is money you need to have in your broker account to secure your open position. Different brokers require different amounts of margin money to keep your positions open.
What are the "long" and "short" positions?
A long position is a "buy" position, meaning that this position will be in profit if price goes up.
A short position is a "sell" position, meaning that this position will be in profit if price goes down.
What is the best Forex trading strategy?
There is none. You should constantly develop your own strategies for every possible market situation, if you want to be in profit. Specific strategies can only be good for a certain period of time and for certain currency pairs.
How much money I need to start trading Forex?
This will depend on the Forex broker you choose. Usually, the minimum amount varies from $250 to $10,000 ($100,000 and more for Interbank trading). |
| |
|
|
|
| |
| Home
| Self
Traders | Institutional
Trading | Institutional
Services | Trader
Incentives | Trader
Resources |
Forex trading involves substantial risk of
loss and is not suitable for all investors.
Click here for more information.
Traders Network, LLC believes that customers should
be aware of the risks associated with over-the-counter,
spot Forex. Forex trading is highly speculative
in nature which can mean currency prices may become
extremely volatile. Forex trading is highly leveraged,
since low margin deposits normally are required,
an extremely high degree of leverage is obtainable
in foreign exchange trading. A relatively small
market movement will have a proportionately larger
impact on the funds you have deposited. You may
sustain a total loss of your funds. Since the
possibility of losing your entire cash balance
does exist, speculation in the Forex market should
only be conducted with risk capital you can afford
to lose which will not dramatically impact your
lifestyle. |
|
| Copyright 2009, FX DEALER
SELECT All Rights Reserved |
|
|
|
