How do i start FOREX trading?
2007-12-04 00:51:23 · 3 answers · asked by chuks A 1 in Business & Finance ➔ Personal Finance
Foreign exchange, forex or just FX are all terms used to describe the trading of the world's many currencies. The forex market is the largest market in the world, with trades amounting to more than USD 1.5 trillion every day. This is more than one hundred times the daily trading on the NYSE (New York Stock Exchange). Most forex trading is speculative, with only a few percent of market activity representing governments' and companies' fundamental currency conversion needs.
Unlike trading on the stock market, the forex market is not conducted by a central exchange, but on the “interbank” market, which is thought of as an OTC (over the counter) market. Trading takes place directly between the two counterparts necessary to make a trade, whether over the telephone or on electronic networks all over the world. The main centres for trading are Sydney, Tokyo, London, Frankfurt and New York. This worldwide distribution of trading centres means that the forex market is a 24-hour market.
There's definitely a lot of many to be made, but before you sign up to start forex trading, you should talk with a financial planner about if it makes sense for you. I found mine through www.plannerconnect.com, good site.
There are any number of dealers available to you to contact whom you can get trading guidance from.
2007-12-04 03:39:03 · answer #1 · answered by ADK 2 · 0⤊ 0⤋
No. The only reason you are "interested" is that these schemes are heavily promoted. Forex is just another commodity. You might equally be interested in commodities such as gold, cotton, or eggs. Many forex brokers advertise commission free service. They profit with the bid/ask spread, but their spread is larger than traditional commodity firms, which charge a commission. Pros prefer paying a commision to the "free" brokers. I highly suspect your first responder is a scam. I'd be wary of taking his links. This YA category is filled with more scams than any other category I know of.
2016-05-28 03:13:10 · answer #2 · answered by jennette 3 · 0⤊ 0⤋
You can learn more about forex trading by going to the enclosed link
2014-10-11 12:46:35 · answer #3 · answered by Mary 1 · 0⤊ 0⤋
You can join with Forex club (Free) and then learn with Demo Account and start with low investment http://theclickinfo.com/forexpro/
2007-12-06 18:20:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The foreign exchange market works through financial institutions, and it operates on several levels. Behind the scenes banks turn to a smaller number of financial firms known as “dealers,” who are actively involved in large quantities of foreign exchange trading.
For more details you can visit this link:
http://alpari.com
Please visit this site
2015-11-13 02:26:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2016-02-03 01:03:26 · answer #6 · answered by ? 2 · 1⤊ 0⤋