Millions of traders from all over the world are trading Forex online. The participants are banks, business organizations - large and small, and obviously many private individuals. Everyone on earth today can immediately start trading Forex online, from any computer, anytime, using their credit cards.

The FOREIGN EXCHANGE (FOREX, FX) market is not a "market" in the traditional sense. In fact, it is the nearest to "perfect market" from economics perspective. There is no centralized location for trading as there is in futures or stocks. Trading occurs around the clock over the telephone and on computer terminals at thousands of locations worldwide. Foreign Exchange is also the world's largest and deepest market.

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Some Forex Basics:



  • The first currency listed in a currency pair is called the "base currency".

  • The “base currency” is usually the U.S. Dollar. Traders will generally trade the U.S. Dollar against another currency, which is called the “counter currency”.

  • Currencies are quoted in pairs. For example: The pair U.S. Dollar and JPY will be quoted in the following way: USD/JPY equals to 2.5 (This means that 1 U.S. Dollar can buy 2.5 JPY).

  • When a quote increases, it means that the “base currency” has risen in value and the “counter currency” has weakened in value. For example: If the USD/JPY quote used to be equal to 2.5 but is now equal to 2.6, then this means that the dollar has strengthened (because 1 U.S. Dollar can now buy 2.6 JPY as opposed to the mere 2.5 JPY it could buy beforehand.)


Now that you know a thing or two about the Foreign Exchange market, we invite you to explore eToro—the Revolutionary Forex Trading Platform. You too can make your mark in the Foreign Exchange market. Use eToro as your gateway to the ever-growing world of Forex trading.


TOPFOREX · 185 views · Leave a comment
24 Mar 2008. 06:30:09 am

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http://forex.utilblog.com/FOREX-TRADING-b1/eTORO-monthly-competition-b1-p4.htm

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