If you plan to start trading with Forex online you will need the right software system to give you the ability to collect information on market prices and make Forex trades quickly and easily. There are two types of Forex software available. One is web based while the other is client based.
The Forex market is a high paced fast moving market and to make good trades you need good information and with the right software and a high speed internet connection everything you need is only mouse click away. You just need to decide on which software is best for you.
Client based Forex trading software is downloaded and then installed on your computer. The biggest draw back to a client based system is that you can only access it from the computer on which it is installed. You also need to be concerned with the security on your system.
Web based software lets you login in with an internet connection and you can use any computer anywhere. Web based software tends to less vulnerable to viruses and hackers because of the high security implemented.
Whether you use web based or client based it needs to provide you with real time quotes and the means to quickly buy and sell on the market. If you choose client based software it pays to pay the fee that ensures you software updates because there are regular changes.
Brokers house your client information on two servers in two different locations for security and safety of your data. So for example if a server has a power failure the data is automatically transferred to the other server and you won’t even realize there was an interruption. Brokers also back up their server using an ongoing system so nothing is ever lost.
You may have found your calling with Forex. There is plenty of money to be made on the currency market. The first step is taking a little risk, the next step is choosing the right Forex trading software, and finally you’ll reap the rewards in profits.
Friday, March 19, 2010
Monday, March 15, 2010
The forex market is the largest financial market
The forex market is the largest financial market in the world, trading around $1.5 trillion each day. Trading in the forex is not done at one central location but is conducted between participants through electronic communication networks (ECNs) and phone networks in various markets around the world. The FOREX market is considered an Over The Counter (OTC) or ‘interbank/inter dealer’ market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.
Currency is also needed around the world for international trade, as well as by central banks and global businesses. Central banks have relied on foreign-exchange markets since 1971 - when fixed-currency markets ceased to exist because the gold standard was dropped. Since that time, most international currencies have been “floated”, rather than pegged to the value of gold.
U.S. Economy Affecting International Currencies.
The downward spiraling condition of the American economy is causing concern on an international level. During late-morning trading in Sydney, Australia, the dollar was mixed against other currencies before any interest rates decisions were passed down by the major central banks of the world and the G7 meeting that will take place in Washington, D.C., later this week. Unfortunately, the pressure on the exchange rates is still moving things downward. Many nations are not trusting of the questionable economy of the United States.
Foreign exchange companies and worldwide banks are feeling the pressure of the lousy American housing market and they are beginning to voice concerns that the ‘economic malaise gripping the US’ is starting to spread to other countries. The dollar was down against the Yen and the Euro when trading closed on Tuesday, April 8, 2008, losing anywhere from one third of a cent (against the Euro) to thirteen cents (against the Yen).
The Federal Open Market Committee released their meeting minutes to the international trading community on March 18 and the report did not help reassure the world community. The state of the American dollar is causing people to fear a very long and debilitating recession. Some held hope, though, that by cutting interest rates across the board could help limit the currencies weakness or maybe even stop its downward progression.
The dollar’s weakness is causing other international currency to be under the same amount of pressure. The British Pound Sterling has suffered thanks to the American housing crunch and many government officials fear that the housing problem will slip across the Atlantic and begin to affect them. In an effort to forestall such a financial crisis, the Bank of England plans to cut some of their country’s interest rates and the exchange market is already adding more cuts to their pricing in anticipation of the United Kingdom’s central bank decision.
The Euro is also down and analysts who are watching the housing market crisis in the United States are waiting to see if it spreads first to the United Kingdom and then in Europe. Until there is some positive indication that this is happening, marketers are concentrating on the British interest rate cuts and Friday’s G7 meeting. The exchange markets are forcing the dollar to consolidate in an effort to keep the exchanges from going to outrageous ranges.
The Bank of England interest rates cuts are to be by a quarter of a percentage point, making it 5.0. The European Central Bank is planning to keep their rate at 4.0 until they see what inflation pressures do to growth prospects. The Bank of Japan is not planning on changing their key rates at all, keeping it a 0.5 percent.
Currency is also needed around the world for international trade, as well as by central banks and global businesses. Central banks have relied on foreign-exchange markets since 1971 - when fixed-currency markets ceased to exist because the gold standard was dropped. Since that time, most international currencies have been “floated”, rather than pegged to the value of gold.
U.S. Economy Affecting International Currencies.
The downward spiraling condition of the American economy is causing concern on an international level. During late-morning trading in Sydney, Australia, the dollar was mixed against other currencies before any interest rates decisions were passed down by the major central banks of the world and the G7 meeting that will take place in Washington, D.C., later this week. Unfortunately, the pressure on the exchange rates is still moving things downward. Many nations are not trusting of the questionable economy of the United States.
Foreign exchange companies and worldwide banks are feeling the pressure of the lousy American housing market and they are beginning to voice concerns that the ‘economic malaise gripping the US’ is starting to spread to other countries. The dollar was down against the Yen and the Euro when trading closed on Tuesday, April 8, 2008, losing anywhere from one third of a cent (against the Euro) to thirteen cents (against the Yen).
The Federal Open Market Committee released their meeting minutes to the international trading community on March 18 and the report did not help reassure the world community. The state of the American dollar is causing people to fear a very long and debilitating recession. Some held hope, though, that by cutting interest rates across the board could help limit the currencies weakness or maybe even stop its downward progression.
The dollar’s weakness is causing other international currency to be under the same amount of pressure. The British Pound Sterling has suffered thanks to the American housing crunch and many government officials fear that the housing problem will slip across the Atlantic and begin to affect them. In an effort to forestall such a financial crisis, the Bank of England plans to cut some of their country’s interest rates and the exchange market is already adding more cuts to their pricing in anticipation of the United Kingdom’s central bank decision.
The Euro is also down and analysts who are watching the housing market crisis in the United States are waiting to see if it spreads first to the United Kingdom and then in Europe. Until there is some positive indication that this is happening, marketers are concentrating on the British interest rate cuts and Friday’s G7 meeting. The exchange markets are forcing the dollar to consolidate in an effort to keep the exchanges from going to outrageous ranges.
The Bank of England interest rates cuts are to be by a quarter of a percentage point, making it 5.0. The European Central Bank is planning to keep their rate at 4.0 until they see what inflation pressures do to growth prospects. The Bank of Japan is not planning on changing their key rates at all, keeping it a 0.5 percent.
Thursday, March 11, 2010
Online Forex trading
Do you know what Forex trading is? Some people have heard of this type of trading, others have not. If you haven't, it might be something you are interested in trying. Forex trading stands for foreign exchange trading. What it consists of is the buying and selling of different currencies. This is done simultaneously, and there are people who make a lot of money with this kind of trading. This is apparent by the 1.9 million dollar turnover in this market that happens every day. Also a lot of it is done online. Online Forex trading is very popular.
The most common currencies to trade are the Euro and the U.S. dollar, and the U.S. dollar and the Japanese Yen. However, nearly all of the Forex trading done involves the major currencies of the world. These include the Euro, Japanese Yen, U.S. dollar, Canadian dollar, British Pound, Australian dollar, and the Swiss franc. The Forex exchange is different from other exchanges, such as the New York Stock Exchange, in that it does not have a physical location or central exchange. The exchange day begins in Sydney, then moves to Tokyo, on to London, and finally ends in New York. Each country takes the responsibility of regulating the Forex exchange activities in their own country. So there is no overall regulatory agency. However, this does not seem to be a problem and most countries do very well at overseeing Forex exchange activities.
There are a lot of things that influence the Forex rate. For instance, economic things, like interest rates and inflation, and also political things, such as political unrest in other countries and major changes in government cause up and down changes in the Forex rate. However, these things tend to be short-term, and don't affect it for long.
Online Forex trading sites are easy to find by surfing the Internet. Most of them provide a wealth of information for the first time trader. You can find out about the history of Forex trading, how to co it, tips on being successful, etc. You can also start trading with as little as $250 in your account on some sites. For anyone who is interested in currency or trading, it is something you should check out.
As with any type of trading, there are no guarantees that you will make money or that you won't make money. It is a smart choice to learn as much as you can about online Forex trading before investing any money and doing any trading. It is a fact that informed investors do better than those who don't know much about what they are trading. So get the fact before you dive in. You might just make a little money in a very interesting currency exchange.
The most common currencies to trade are the Euro and the U.S. dollar, and the U.S. dollar and the Japanese Yen. However, nearly all of the Forex trading done involves the major currencies of the world. These include the Euro, Japanese Yen, U.S. dollar, Canadian dollar, British Pound, Australian dollar, and the Swiss franc. The Forex exchange is different from other exchanges, such as the New York Stock Exchange, in that it does not have a physical location or central exchange. The exchange day begins in Sydney, then moves to Tokyo, on to London, and finally ends in New York. Each country takes the responsibility of regulating the Forex exchange activities in their own country. So there is no overall regulatory agency. However, this does not seem to be a problem and most countries do very well at overseeing Forex exchange activities.
There are a lot of things that influence the Forex rate. For instance, economic things, like interest rates and inflation, and also political things, such as political unrest in other countries and major changes in government cause up and down changes in the Forex rate. However, these things tend to be short-term, and don't affect it for long.
Online Forex trading sites are easy to find by surfing the Internet. Most of them provide a wealth of information for the first time trader. You can find out about the history of Forex trading, how to co it, tips on being successful, etc. You can also start trading with as little as $250 in your account on some sites. For anyone who is interested in currency or trading, it is something you should check out.
As with any type of trading, there are no guarantees that you will make money or that you won't make money. It is a smart choice to learn as much as you can about online Forex trading before investing any money and doing any trading. It is a fact that informed investors do better than those who don't know much about what they are trading. So get the fact before you dive in. You might just make a little money in a very interesting currency exchange.
Wednesday, March 10, 2010
Easy-Forex Launched In United States
Easy-Forex just launched its new online foreign exchange platform in the United States which will allow traders an ‘easy and transparent’ option to make informed decisions in all of their trading options. This platform already has a strong presence in the international Forex marketplace and traders are excited by the fact that this package is now open to American users.
As more and more people are beginning to understand and realize how global Forex trading works, it is actually becoming a more common consumer and retail-based product. Right now there are more than three trillion American dollars trading on the Forex market every day. This fact has validated the high liquidity and opportunity Forex trading is giving traders and with the new Easy-Forex platform in place, traders will be able to work 24 hours a day 5-1/2 days each week.
“Our Easy-Forex online trading platform opens up the playing field to Forex trading by removing the unnecessary complexity and mystery that is so often associated with online foreign exchange trading,” claims Global Brand Director for the Easy-Forex group, Peter Economies. “We are pleased to be entering the U.S. market, and offer our revolutionary approach to online Forex trading as a solution for any trader who has experienced frustration with their existing investment opportunities.”
Easy-Forex works on a proprietary innovative technology that utilizes simple and user-friendly programming. It was built with high-end algorithms that are designed to meet the needs of its users and offers elements that are not found in other popular online trading platforms currently on the market. Some of its distinctive features include: a quick display of current market information; real-time trades of other users on the platform; profit/loss scenarios with measurement and adjustment capabilities; and the ability to freeze rates for moments at a time for more in depth study before committing to a trade.
With the program, Easy-Forex is also launching it’s ‘trade naked’ advertising campaign which will help bring this tongue-in-cheek concept to life. The slogan was designed to express how easy the platform is to use and how its transparency will allow the users to view the market with no problems or road-blocks. The advertising campaign will be run on television, radio, online, and in print, and it has a humorous edge to it while still demonstrating how the platform works. It is also designed to show people how the platform is free of complicated tools and interfaces.
Easy-Forex is located in Chicago, Illinois, and the online trading platform is now available for all traders in the United States who sign up for the service. Traders who enroll and use the program will get an easy trading interface to use that requires no program downloads, low initial deposit fees and a personal account manager.
As more and more people are beginning to understand and realize how global Forex trading works, it is actually becoming a more common consumer and retail-based product. Right now there are more than three trillion American dollars trading on the Forex market every day. This fact has validated the high liquidity and opportunity Forex trading is giving traders and with the new Easy-Forex platform in place, traders will be able to work 24 hours a day 5-1/2 days each week.
“Our Easy-Forex online trading platform opens up the playing field to Forex trading by removing the unnecessary complexity and mystery that is so often associated with online foreign exchange trading,” claims Global Brand Director for the Easy-Forex group, Peter Economies. “We are pleased to be entering the U.S. market, and offer our revolutionary approach to online Forex trading as a solution for any trader who has experienced frustration with their existing investment opportunities.”
Easy-Forex works on a proprietary innovative technology that utilizes simple and user-friendly programming. It was built with high-end algorithms that are designed to meet the needs of its users and offers elements that are not found in other popular online trading platforms currently on the market. Some of its distinctive features include: a quick display of current market information; real-time trades of other users on the platform; profit/loss scenarios with measurement and adjustment capabilities; and the ability to freeze rates for moments at a time for more in depth study before committing to a trade.
With the program, Easy-Forex is also launching it’s ‘trade naked’ advertising campaign which will help bring this tongue-in-cheek concept to life. The slogan was designed to express how easy the platform is to use and how its transparency will allow the users to view the market with no problems or road-blocks. The advertising campaign will be run on television, radio, online, and in print, and it has a humorous edge to it while still demonstrating how the platform works. It is also designed to show people how the platform is free of complicated tools and interfaces.
Easy-Forex is located in Chicago, Illinois, and the online trading platform is now available for all traders in the United States who sign up for the service. Traders who enroll and use the program will get an easy trading interface to use that requires no program downloads, low initial deposit fees and a personal account manager.
Wednesday, March 3, 2010
Forex Trading History
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. Friedman, who had perceived sterling to be priced too high against the dollar, wanted to sell the currency, then later buy it back to repay the bank after the currency declined, thus pocketing a quick profit. The bank’s refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of $35 per ounce of gold which is forex trading .
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.
But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.
The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
Hope you have got all the information and details of forex trading history.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.
But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.
The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
Hope you have got all the information and details of forex trading history.
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