Thursday, July 21, 2011

Forex Secrets


'What is a secret?' Answer is something that everyone knows but chooses not to see, speak or tell. Hence there are no insider Forex secrets that are withheld by the traders, any person can make really good strategies or incorporate already existing strategies in this form of trade. Apart from that one can also use some simple economic concepts and proven theories to trade currencies. Moving on to some Forex 'secrets'.

Forex Strategy & Secrets: The Basis

The Forex market is principally an international trading currency market which is managed by an enormous network of brokers and sub brokers and is open 6 days a week. Unlike a stock exchange, a Forex market deals in different currencies and their exchange rates. This market principally came into being to facilitate international trade. For example trade between Great Britain and USA at a point of time was done in USD and Pounds. The transaction here went through a currency transfer that is a Pound was converted into some Dollars.

The Forex market today is a dematerialized market where all currency trade is carried out though the Internet accounts of the brokers, sub brokers and investors. Now a Forex investor who is based in the United States who possesses USD will invest some amount in the European Euro, let's say $10. Upon better economic performance, the international value of the Euro will rise. In such a situation, the investor can re-convert the currency into USD again. However, now as a result of the rise in the value of the Euro, it will get converted into say $12 to $13. This is exactly how one makes profit on the Forex market. There are several different strategies that can be used to make a very hefty profit in the market.

Some Forex Secrets Revealed

As mentioned above the Forex secrets can be revealed, however, many of unknowingly already known them, though we may have very used them. Here are a few Forex trading secrets which you can use.
Learn the art of investing in rising currencies. There is nothing known as 'luck', when you deal in Forex. The purchase must be made just before the price rises and sale must be made just before it begins to fall. This will ensure a healthy profit margin.
Secondly one must be able to make an arbitrage trading. An arbitrage is purchasing at a lower price and simultaneously selling at a higher price. This will ensure that the profit margin is maximum.
Apart from arbitrage, it is also essential to ensure that you sell just before the fall. That is if you sell too early you will make a profit. However, you will lose the chance of making a healthy profit. To know the exact 'fall' point or the point of satiety, you will have to take up a deep study of the economies in which you are dealing with. Day-to-day events tend to affect this value differentiation.
You can also take up some related currency tools such as currency options trading or options agreement.
Some Forex traders keep on trading with a pair of currencies or multiple pair currencies. Such trading is quite convenient in the beginning phases. It is often considered to be the best among all Forex trading strategies for beginners.
In some cases, the investors deal in a small set of currency; and buy or sell if the currencies tend to breach some or the other barrier that they have set. This is among the best day trading strategies and it ensures a small profit margin. Some people also call it as a Forex Scalping Strategy.
There are some people who trade Forex for a Living. You can also take some unrevealed Forex secrets from them. Over all, Forex trading involves studying the economies and buying and selling the right currency at the right time. Good luck.

Major Currency Pairs


If you are looking for a major currency pairs list, this article has what you are looking for. Here you will find the currency pairs that have the largest trade share in the foreign exchange market.

Name one market which never closes, has the highest turnover volume in the world with people from all countries in the world participating in its day to day working. Yes, you guessed it right. It is the foreign exchange market, which extends its dominion all over the world. The market emerged out of a need for a system to facilitate the exchange of different currencies around the world, for the purpose of trade. Now it is the premier financial market of the world, which reflects the financial dynamics of world trade quite clearly. Every trade here is an exchange between currency pairs of different countries. The aim of this article is to present the major currency pairs that dominate the foreign exchange markets.

As the famous Hollywood movie 'Wall Street's' tag line says, money never sleeps and in case of the foreign currency exchange market it is literally true. As the Earth revolves around herself, sun rises and falls, the forex markets world over, keeps on opening and closing in order to facilitate uninterrupted currency trade. There are many currency pairs that are traded in this international market. Let us see what are currency pairs and how are they listed, before taking a look at the major currency pairs of the world.

About Currency Pairs

Foreign exchange trade or forex trading is all about buying and selling currencies in pairs or rather exchanging one for the other. For buying and selling currencies, one need to have information about how much one of the currencies in the pair is worth in terms of the other. The statement of this relation is made in terms of a currency pair. So a currency pair is the quoting of two currency abbreviations followed by a listing of the value of base currency with reference to the counter currency. The foreign exchange rates are decided by the import and export volumes between two countries.

There is an international code which specifies the nomenclature for stating currency pairs. For example, a quote like EUR / USD 1.23 means that 1 Euro is worth 1.23 USD. Here the base currency is Euro (EUR) and the counter currency is US dollar. Thus, every currency pair is listed in the foreign exchange markets across the world. Now let us have a look at the major currency pairs of the world.

Forex Major Currency Pairs

Not surprisingly, the most dominant and strongest, as well as most widely traded currency is the US dollar. It features in all the major currency pairs of the world listed below. The reason for this is the sheer size of the US economy which makes it the biggest economy in the world. US dollar is the currency that is the preferred reference in most currency trading transactions around the world. It is the dominant reserve currency of the world. Following are the forex major currency pairs that have high liquidity and take up the major share of forex transactions.
EUR/USD (Euro - US Dollar)
USD/JPY (US Dollar - Japanese Yen)
GBP/USD (Pound Sterling - US Dollar)
AUD/USD (Australian Dollar - US Dollar)
USD/CHF (US Dollar - Swiss Franc)
USD/CAD (US Dollar - Canadian Dollar)
The values of these major currencies keep fluctuating according to each other, as the trade volumes between two countries keep changing every year. For the latest currency exchange rates, refer to sites that offer live foreign exchange reports. They even have currency converters, which can calculate the value of a currency with reference to another, at the current market value.

So these are the major currency pairs of the world which are traded the most, all over the world. These major pairs are naturally associated with countries that are financial superpowers with high volume of trade conducted all over the world. The dynamics of the foreign exchange trade is an interesting subject of study as it can provide you with a pulse of the world economy, along with its rising and falling financial fortunes. As the wave of globalization engulfs most countries around the world, the fates of these major currency pairs are inextricably intertwined. Make sure that you study the foreign exchange market thoroughly before making an investment in this market which never sleeps!

Notes to Spreads

The spreads will constantly vary depending on market conditions such as volatility and liquidity and accordingly we can never guarantee a certain spread. You will, in order to get an understanding of the spreads, be able to see the:

Lowest Possible Spread, defined as the lowest possible spread we will, on occasion, provide you, and

Expected Average Spread, defined as the average spread we would expect you to see, in the table above.

For more information on ForexTrading.com's forex spreads, please visit the Forex Spreads section.

The spreads referred to above may vary from time to time especially for very active or inactive customers. ForexTrading.com reserves the right to amend the spreads, brokerage fees, margin rates and interest rates referred to according to the General Business Terms or Trading Agreement covering the client relationship between ForexTrading.com and the Client.

Friday, June 3, 2011

What Is Forex Trading?

These days, there are many people who are interested in making some extra cash online. Forex is a great way for someone to make some extra cash, on top of your regular income. You will just need to understand what the required skills are in trading, and once you know that it will be easy to make some extra cash while you are at home. It isn’t necessary to just sit at your computer, and wait after you have placed money on your trade. All you need to do is, is place money on your trade, and you will just need to wait for your profits to come in.

Research as much as you can about forex, before you consider this option. Forex, can be explained as Foreign Exchange. In other words, you are purchasing a currency, so that you can sell it to make a profit. These currencies will be sold in currency pairs, such as EURO and USD. You are able to apply for a Demo that is free, and have a practice session before you start to trade on your proper account.

You should also get really familiar with what the forex terms are, and how forex trading is used. You can access this information by reading ebooks online, as this will have a lot of information on Forex trading to help you get on the right track. When you start to feel like you can trade online you can now open an account, and this account can be started off with as little of an amount as $200.

You can either chose a forex broker, or trade on your own. This decision needs to be based on what you are comfortable with. A great benefit in doing this sort of trading, is that you can do it at whenever you like. This trading is open all day, so you can chose to do it at anytime of the day that suits you.

Next, you will need to decide on what currency pair you are interested in, and where you will think that you will earn the most amount of money. The more popular choices of pair currencies in forex trading are: GBP/USD, EUR/USD, EUR/JPY, and USD/CHHF. Once you have decided this, you can now start to make some money.

You will have to prepare yourself, with the fact that there will be losses involved with trading. You will need to expect that you will more than likely have some risks involved in some of the investment capital, before you get the opportunity to make any high returns. You can also do even more searches, when it comes to trading online, to get extra information as this is a sure way to get even more successful with trading and making more money online. Having all the right information, will also make you more comfortable with you how you trade. There are risks involved with trading as already mentioned, but there are also risk involved with any form of trading.

Top 6 Mistakes New Forex Traders Make

Some mistakes made by Forex traders are almost universal. It seems that there are a handful of them that almost all traders will make when they are still starting out their trading careers. Some of the more common ones are below:

Being underfunded

One of the most common issues is a sever lack of trading capital. If you have a smaller account, you might find it tough to pull the trigger on a trade, because you are too worried about losing what little capital you have. You should have enough capital in the account that you can survive a string of losses, because they can and do happen. You need to accept that losing trades happen to everyone, and you don’t want to be in a situation where a few losses can wipe out what trading capital you do have.

Unrealistic expectations

Another common ailment of new traders is simply being unrealistic of what is going to happen. Most of us start out with dreams of sitting on a beach, opening our laptop, hitting a few keys on the keyboard, and suddenly making a few thousand dollars. It only takes a couple of trades to see how unlikely that is.

The truth is that you are entering a business. If you had $1,000 to open a business with, how much would you expect to make on that business right away? Would it be reasonable for you to expect to make a consistent living from that small sum? Since you undoubtedly answered “No”, you really shouldn’t expect to make a killing off that $1,000 trading Forex either.

It will take time to build your balance up, allowing you to trade larger amounts, and make larger profits. With patience and a little common sense, you can get to the point where your profits truly matter.

“Picking it up along the way.”

Seriously, this one is very dangerous. Trading is a skill, and as such, should be treated like one. Most doctors didn’t just “pick it up”, but most Forex traders seem to think they can. You are competing against some of the brightest minds in the world. While you certainly can come out ahead, you need to know what you are doing before you do it! This is just common sense.

Through study, and demo accounts, you can get the experience needed to compete with the larger firms around the world. You do have certain advantages that they don’t, like being able to jump in and out of the market with ease for example. You can learn to use your experience to make money consistently, but it takes time.

Overleveraging

While this is similar to having an underfunded account, there are still a large amount of traders that insist on using all of the leverage they can. The lure of large gains is simply too much for them to ignore, but they don’t seem to think about the losses waiting to happen.

Being far too overconfident

While being confident isn’t a bad thing, it can go too far. Maybe your last trade made a large amount for you. If that’s the case, you should be happy, but it doesn’t make you bulletproof. Some traders will take a string of wins as a signal to start trading with large positions.

This can really hurt you, because one large trade that goes wrong can wipe out several of your normal sized wins. A loss can come at any time, and successful traders will actually trades like it is likely.

Having no plan

A successful forex trader will have a trading plan. Period. You cannot just trade ‘off the cuff” and expect to make reasonable decisions. A trading system as part of your plan can go a long, long way towards becoming profitable. You need to know what to do in various market conditions. A trading plan will help you with that.

Wednesday, April 13, 2011

Huge Forex Profits even from Small Investments

Historically, traders would need several thousands of dollars to be able to trade. Thanks to the ever increasing competitive nature of currency trading online this has been reduced so far that an individual can now begin trading a mini Forex account with as little as $25.

With the often huge leverages on offer even such a small amount can produce considerable returns.

Forex trading is forever increasing in popularity due to the many benefits it offers and more and more trading resources becoming available online.

The Internet is a wonderful thing and when you combine it with the magic of Forex trading you suddenly have an amazing and exciting hobby or profession right in front of you.

Click the next button below to read more about the amazing earning potential trading currencies online can offer you no matter what the level of investment is that you have to put forward.

Online Forex Trading Advances

Of course when Forex first began the Internet was a distant dream and therefore trading was carried out exclusively by the cash rich worldwide organizations.

These were companies who could afford to throw a few million in to the mix in an attempt to make some big money trading currencies.

Trading was carried out over the telephone via several exchange centers all over the world. A trader would monitor global activity and then ring their broker in order to commence or complete a trade order.

The transfer of funds to complete trades was done through bank transfers which often took a few days to go through. This meant that whilst the Forex market offered a fantastic earning opportunity, trading was both time consuming and a hassle.

With the advent and then increasing popularity of the Internet, Forex trading online opened up the doors to millions of people who had never previously had the resources to take part.

Gone are the days of having to phone through your intended trade, Credit and Debit cards are even accepted with some online brokers for depositing funds. Even more recently the Forex market has opened up to individual traders even with very small amounts to invest.

The Birth of the Foreign Currency Exchange

In 1971 when floating exchange rates began to materialize and the bretton woods agreement was abandoned, the foreign currency exchange market was born.

This advancement was welcomed with open arms by the International companies who had often noticed big profit changes both positive and negative simply based on the value of their native currency against the value of the currencies in the markets in which they traded their day to business activities.

These companies would see fluctuating exchange rates effect their profit and loss accounts, often with millions being made or lost simply on the value of one currency against another.

It was also these companies that were first to spot the huge money making opportunity currency fluctuations offered and these same companies were the first to leap on to the Forex trading bandwagon and attempt to increase their profit margins through brave yet profitable currency exchange decisions.

A History of Trading the Forex Market

Forex currency trading has made massive advancements over recent years and is becoming on the Internets most searched for trading opportunities.

Technological advancements have made Forex an opportunity to make money for everyone from small individual speculators to large multi-national companies.

In reality the principles of Forex trade have existed for centuries but it wasn't until 1967 when the idea of a global system of currency exchange first began to be put together.

A college professor named Milton Friedman famously wanted to take a bank loan in Pounds Sterling (feeling that the currency was overpriced against the dollar) and then sell it before buying it back once the price against the dollar had fallen.

This would allow him to repay the bank and pocket a nice profit for himself. His loan application was declined due to the bretton woods agreement that was in place at the time but this set the wheels in motion for worldwide Forex trading.

Forex daily

While thousands of people trade in Forex daily, some still wonder - what is Forex trading?

In short, it's buying and selling currencies - or money, if it sounds better. Imagine that you live in Great Britain. Your friends tells you he is going to the US next week for vacations and therefore he requires some American money. Obviously, in the US no shop would accept British pounds.

Luckily, you have some dollars left from your last business trip to New York, so you take your wallet, get twenty banknotes of 100 USD and sell them to your friend. Obviously, he pays you back with British pounds - because you live in London, you are not interested in any other currency.

Well, you have just made a forex operation! Now, imagine that instead of taking British pounds from your friend, you ask him to give you back the same amount he received - 2000 USD, to be accurate. At this moment, the exchange rate was 1.4282, let's assume. He spends two joyful weeks in the US, traveling around the states, tasting some delicious stakes with Californian wine and even singing local anthem. Then your friend comes back to London and he has to give you back 2000 USD. Luckily, the exchange rate of US dollar versus British pound has increased dramatically due to some latest news from the US - it's 1.4021 now, meaning US dollar is now more expensive in the UK! So, once you receive 2000 USD back, you go to a currency exchange window at your favorite bank and change dollars back to pounds. And then - surprize, you made a profit because of the currency rate fluctuations!

Now, you actually did some primitive form of forex trading!

Nowadays, there are more sophisticated and high-tech ways to do forex trading rather than selling currencies to your friends and fellows. You can open an account with a forex broker and start trading online - from any place in the world, with tens or hundreds of different currencies! And thanks to leverage - automatic "credit" system, your profits can increase ten times or even one hundred times!

So, why waste time, why not start live forex trading right now! Forex4you will be glad to assist you with any queries that may arise throughout the process!

Sunday, February 20, 2011

nvestors Turn to Swiss Franc as Middle East Tensions Escalate

As geopolitical tensions rise in the Middle East and now Northern Africa, in Asian trading the safe haven Swiss Franc is holding steady against the U.S. Dollar near to a 2-week peak. As reported at 2:36 p.m. (JST) in Tokyo, the U.S. Dollar was trading at 0.9505 Swiss Francs, after falling yesterday to 0.9474 Swiss Francs. The Euro, too, was lower against the Swiss currency, trading at 1.2922 Swiss Francs, following yesterday’s drop to 1.2890 Swiss Francs, a 2-week low.

The U.S. Dollar has been under pressure since yesterday’s release of higher than expected claims for initial unemployment benefits. Those figures pushed aside any speculation that the Federal Reserve might soon consider an interest rate hike. The U.S. Dollar Index, a gauge of the greenback’s strength versus a weighted basket of currencies, at one point in the trading session slipped to 77.921 .DXY, a 1-week low, before rebounding to 78.001 .DXY. Analysts attribute the decline in the Index not only to the unemployment data, but to the slight decline in U.S. Treasury bond yields.

Later today, markets will turn their attention to Paris, where Ben Bernanke, the Chairman of the Federal Reserve Bank, will be one of the speakers at the G20 summit of finance ministers which begins today through tomorrow.

All You Need to Know About Forex Trading

There are literally thousands of people who aspire to make a fortune from currency trading or forex trading. Seeing traders earn thousands of pounds everyday while you slog in a 9 to 5 job to make 1/4th of that amount in the entire month can stir the curiosity of anyone indeed.

Although the lucrative potential in this market is quite evident but how to take a bite of that pie remains a mystery for most traders, hence there are only a few perseverant traders who actually taste success in the forex market.

One of the primary reasons why many people fail to decipher the bright side of the forex market is the insufficient availability of good knowledge (Yes, including what is available on the Internet). And even when you find some resource, it usually uses such technical jargon that beginner level traders find themselves completely lost. What more? If you chance to find any good resource, more often than not you may find yourself having to pay to gain full access to the complete guiding material.

In such a scenario, mere survival in the forex market seems to be a big challenge, let alone earning a living from it. Being a forex enthusiast and a successful trader now, I completely understand your struggle and have thereby set up this resource site to help people solve this mystery of success in the forex market, understand the undercurrents of this vast market, and make the most of the opportunities that forex market throws their way.

From useful information to selecting the right forex brokers, you can gain all the necessary guidance here that any beginner or advanced trader may need, and that too in an easy-to-understand language and all for free.

Naturally so, many of you might be thinking as to why am I so interested in sharing my trading knowledge with you all? It’s simple! Unlike other work environments, there is no competition between the traders in the forex market. So, your gain would never mean my loss. It’s not that we are not humans but this is what the nature of the forex market is.

Traders are never competitors, so we dwell in a healthy, mutually-helpful work environment, where I would never be at loss, even if I assist you in your forex endeavour. So, being passionate about the market, it gives me great joy and satisfaction in helping other forex enthusiasts.

Sunday, January 30, 2011

Forex Trading Systems


Despite the apparent simplicity of the forex market: buy a currency at one value and sell it at a higher value to make money, or conversely, sell a currency at a value and buy it back at a lower value, there are literally hundreds of extremely complex “systems,” for sale. These forex trading systems suggest it is possible to predict the direction the market will take. These systems are inherently very complex because they are attempting to predict a very complex pattern.

Many of these systems are not available without an outlay of money, either wth a deposit at a broker or buying the system outright. Which in itself raises a question: are they worth the money? Unfortunately there is only one way to find out for sure - Buy one and see.

In any event, if it doesn’t work, the cost of the system will likely pale in comparison to the trading losses and if it does work you will hardly notice the expenditure, so there is actually a good argument for trying several systems and seeing if any of them do work.

Once the decision is made to begin trading in foreign currencies, this implies a willingness to risk a substantial amount of capital and a few hundred dollars spent on someone’s system is neither here nor there.It is not worth investing in the forex market as a day trader using a “mini account,” because a few hundred dollars at a high leverage can be wiped out in moments and any broker who suggests an investment of this size should be avoided like the plague.

The minimum lot is 100,000 units. A $1,000 deposit gives you the opportunity to buy one lot with US dollars as the quote currency, assuming a leverage of 100:1 – with no margin for error, which means a reputable broker should not accept a deposit of less than $2,000 - $1,000 for the trade and $1,000 to cover your position and the spread (broker's commission) – a 1% move against your position and the broker will shut you down.

Some things to bear in mind when considering buying a forex system or choosing a broker’s forex trading system.

* Who is selling the system and are they in any way able to be contacted?
* Who is saying the system works - Is it an acquaintance of yours whom you know to be successful as a currency trader or a random blogger on the internet?
* It is in a broker’s interest to have you make as many large trades as possible – the bigger the trade and the more often you make trades, the more money the broker will make and most forex trading systems will fail - They work on a commission only basis. It makes absolutely no difference to the broker whether you are profitable or not – they will get paid.
* Trading with a demo or practice account is different from trading with actual funds. Some of the demo accounts work using historical information rather than genuine, “real time,” information, and we all have 20/20 hindsight. Also, whether we care to admit it or not, we behave differently when real money is on the line. It’s human nature – if it makes no difference if you lose the money, (i.e it’s fake money in a demo account) the emotional attachment will not be there and you will make different decisions.

Forex Trading Guide - FX Trading for Dummies


Forex Trading Overview

Forex trading, or the foreign exchange trading market (also commonly known as FX trading or simply, currency exchange, involves trading one currency for another. Forex is by far and away the largest financial market in the world. Trades are made between large banks, central banks, currency speculators, multinational corporations, governments, and even the other financial markets. According to The Bank for International Settlements (BIS), a world-wide central bank organization, the average daily trade in the global forex and related markets is currently over three trillion US dollars – A DAY. This is several times larger than all the U.S stock markets combined. The trading is done from all round the world, with little or no hard cash changing hands.
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Forex Trading vs Stock Market

Two of the main differences between (and some would say advantages over) the forex market compared to the stock market are:

1. Trading hours. The forex market is open 24 hours a day. Trading is done over three continents, allowing a trader to trade continuously and to react immediately to events and new developments. The market opens on Sunday evening and closes Friday night.

2. Commissions. Electronic trading and competition have brought about a sizeable reduction in the bid-offer spread (the equivalent of commissions). The spread covers the risk of the market maker. The spread for the majors remain very low, but can increase as the liquidity of a specific currency drops. Despite recent reductions of commissions through online stock brokers, the Forex market is considered, by some, to have the lowest commissions relative to trade size when compared to other financial markets. This is also in part due to the 100:1 leverage offered by most trading houses. A client with a $10,000 deposit can leverage this to $1,000,000. Some electronic communication network brokerages have introduced a per trade commision alongside a narrow pip spread.

Many retail trading houses would suggest that the large size of the market makes it impossible for a speculator to affect the market. This is not quite the truth - the stakes are higher, larger quantities of money are involved, and the bigger banks spend a lot of time and effort trying to manipulate the market. Governments have been known to step in and affect prices.
"Buy the rumor, sell the fact."

The price of a currency tends to anticipate the effect of a particular action before it occurs and, when the event comes to pass, react in the opposite direction. This is also referred to as a market being "oversold" or "overbought".

Unlike the stock market, where retail clients (individuals) have access to almost exactly the same prices as all other participants, the Forex market has several different levels of access and therefore commission costs or spreads. At the top are the largest investment banking firms such as Citi and Deutsche Bank, where the spreads or the difference between bid and ask prices are tiny. These spreads are a closely guarded secret, not normally known outside the inner circles of international finance.

Further down the trading chain, the spreads become wider. Basically, the larger the volume of trades, the narrower the spread. After the major top-tier banks come the smaller investment banks, large multi national corporations, pension funds, insurance companies and, more recently, some of the major retailers. Retail traders are a small fraction of the market and may only participate indirectly, through brokers or banks.

There are many influences on the value of currency when compared to other currencies, but the Forex market is almost a pure supply and demand market. Demand rises or supply falls, prices rise and vice versa. Electronic trading is slowly increasing in the Forex market with Algorithmic trading increasing also.

Spreads in Forex Trading

The BID price is the price at which a client can sell a unit of the base currency (in return for buying the secondary currency) and the ASK/OFFER price is the price at which a client can buy a unit of the base currency. For example, if the quote for the exchange rate of the Euro/U.S. Dollar in the market is 1.2583/1.2586, this means that the client can pay $1.2586 in order to buy one Euro (the base currency) and will receive $1.2583 if one Euro is sold. The BID price is lower than the ASK price and the difference or 'spread' between the two numbers is measured in 'pips' (3 pips here) and represents the profit of the dealing room or trading house.

Retail Forex Trading

Retail forex brokers or " market makers ," working on behalf of retail clients only handle a tiny fraction of the forex market. One retail broker estimates the total retail volume at $25–50 billion daily, which is approximately 2% of the whole market. Nonetheless, this is a substantial market for the individual trader and the ready availability of good quality trading platforms means this is an ever growing segment.

All You Need to Know About Forex Trading

There are literally thousands of people who aspire to make a fortune from currency trading or forex trading. Seeing traders earn thousands of pounds everyday while you slog in a 9 to 5 job to make 1/4th of that amount in the entire month can stir the curiosity of anyone indeed.

Although the lucrative potential in this market is quite evident but how to take a bite of that pie remains a mystery for most traders, hence there are only a few perseverant traders who actually taste success in the forex market.

One of the primary reasons why many people fail to decipher the bright side of the forex market is the insufficient availability of good knowledge (Yes, including what is available on the Internet). And even when you find some resource, it usually uses such technical jargon that beginner level traders find themselves completely lost. What more? If you chance to find any good resource, more often than not you may find yourself having to pay to gain full access to the complete guiding material.

In such a scenario, mere survival in the forex market seems to be a big challenge, let alone earning a living from it. Being a forex enthusiast and a successful trader now, I completely understand your struggle and have thereby set up this resource site to help people solve this mystery of success in the forex market, understand the undercurrents of this vast market, and make the most of the opportunities that forex market throws their way.

From useful information to selecting the right forex brokers, you can gain all the necessary guidance here that any beginner or advanced trader may need, and that too in an easy-to-understand language and all for free.

Naturally so, many of you might be thinking as to why am I so interested in sharing my trading knowledge with you all? It’s simple! Unlike other work environments, there is no competition between the traders in the forex market. So, your gain would never mean my loss. It’s not that we are not humans but this is what the nature of the forex market is.

Traders are never competitors, so we dwell in a healthy, mutually-helpful work environment, where I would never be at loss, even if I assist you in your forex endeavour. So, being passionate about the market, it gives me great joy and satisfaction in helping other forex enthusiasts.
How to Start Forex Trading?

If you have finally made up your mind to take the plunge into the forex waters for additional income, the foremost thing that you would need to begin trading is a good forex broker. You may take a look at some of my tips for choosing a forex broker, or you can take a look at the comparison chart below for the best forex brokers in the market, or directly visit the forex broker reviews page for detailed-reviews.

Although if you are not very confident about your understanding of trading basics and strategies, it is advisable that you browse through the site first and educate yourself before you try out even a demo account with any forex broker.


Best Forex Brokers 2010


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#1 Easy Forex

$200 US & EU Approved No 200:1 3-7 pips Excellent
Open to both UK and US traders, Easy Forex is an ideal platform for traders with low budget. The professional yet easy-to-use platform offers a superb value for their great features, ultimate support and unrivalled tools. Every trader is also provided with their personal account manager for any guidance. With regulation from both EU and US, you can be sure that it is the most reputable and secure trading platforms around. More information...
#2 eToro

$50 EU Approved Yes 200:1 2, 4 and 6 pips Good
If staring at complicated graphs and charts bore you to death, be sure to give this innovative forex platform a try. eToro really makes trading fun. You may even feel like you are playing a game while making some serious money. Primarily focused at attracting new traders, the bonus of up to $1000 offered on first deposit is another eToro plus. More information...
#3 Forex Yard

$100 N/A Yes 200:1 3-5 pips Good
In case you passed on Easy Forex and eToro, chances are that you are an experienced broker looking for a highly advanced trading platform. Forex Yard tops the charts when it comes to trading at expert’s level. Though you may get started with a minimum deposit of $100, professional account with a minimum deposit of $1000 is highly recommended for experienced traders. Easy-to-use platform, competitive spreads and leverage, loss protection features, all make Forex Yard a great pick for advanced forex trading. More information...

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