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Forex Accounts
By Panama Brokerage
What is Forex? The market in which currencies are traded. The forex market is the largest, most liquid market in the world with an average trading that exceeds $2 trillions a day.
here is no central marketplace for currency exchange; trade is conducted over the counter. The forex market is open 24 hours a day, five days a week, and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. Forex is the largest market in the world in terms of the total cash traded, and any person, firm or country may participate in this market.
Foreign exchange is traded on margin. A small deposit can control a larger positions in the market. For trading a 1% marging you need to place just USD 10,000 by way of security in order to trade one million This means that a change of 2%, in the underlying value of your trade will result in a 200% profit or loss on your deposit.
When you trade, you trade a combination of two currencies. For example, you will buy US dollars and sell euro. Or buy euro and sell Japanese yen, or any other combination of dozens of currencies. But there is always a long (bought) and a short (sold) side to a trade, which means that you are speculating on the prospect of one of the currencies strengthening in relation to the other. |
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The copyright for this content entitled "Forex Accounts" has been specified by the contributor as:
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The copyright for this content has been relinquished by the author. The content may be used freely by anyone.
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