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What is the Forex Currency Market?

The name Forex appeared from the phrase FOReign EXchange market, translated from English meaning Currency market.

What is the Forex Currency Market? Forex - the interbank market, was formed in 1971, when international trade shifted from fixed to floating exchange rates. This is a collection of agents of foreign exchange transactions of the market for the exchange of specified sums of currency of one country's currency for another at an agreed rate on the a certain date. At an exchange rate of one currency relative to another is determined very simple: supply and demand - exchange to which both parties agree.

The volume of transactions in the global foreign exchange market constantly growing. This is associated with the development of international trade and the abolition of currency restrictions in many countries. Impressive is not only on its own volume of transactions, but also rates, which marked the development of the market: in 1977 the daily turnover was five billion U.S. dollars in ten years it rose to 600 billion and reached one trillion dollars in 1992. The daily volume of foreign exchange operations in the world in mid-1998 amounted to 1 trillion 982 billion dollars USA (in the London market share accounted for about 32% of daily turnover, The New York exchanged about 18%, the German market - 10%). At this time, the daily turnover of more than $ 3 trillion. About 80% of all transactions up speculative transactions with a view to profit from playing on the difference in exchange rates. Jobbing attracts numerous participants, both financial institutions and individual investors.

The highest rates of information technology in the last two decades, the market itself changed beyond recognition. Once surrounded with a halo of caste mysterious profession currency dealer has become almost a mass. Forex transactions that were recently privilege of the biggest monopolist banks, are now available, thanks to systems e-commerce. And the foremost banks themselves also often prefer trade electronic systems in the individual bilateral transactions. The share of electronic brokers now account for 11% of the turnover of the FOREX. Daily transaction volume of the largest international banks (Deutsche Bank, Barclays Bank, Union Bank of Switzerland, Citi Bank, Chase Manhattan Bank, Standard Chartered Bank) reaches billions of dollars. Foreign exchange market is around the clock, it is not associated with specific hours of operation of stock exchanges, trade takes place among banks located in different parts of the globe. The mobility of the exchange rate is such that significant changes occur very often, allowing to make several transactions every day. If you have a Trade-proven reliable technology, you can make a business out of it, with which performance can be compared is no other. No wonder the major banks buy expensive electronic equipment and include the states of hundreds of traders trading in the various sectors of the foreign exchange market.

The initial cost of entry into the business today is very small. Indeed, to pass initial training, buy a computer, buy an information service and form a deposit worth more thousands of dollars for that kind of money is no real business can not be organized. With an excess of service offerings in this area find a reliable broker - also a very real thing. The rest depends on the trader. As in any other field of activity today, it all depends on you personally.

The main thing is that the market will require for the successful operation - no amount of money to that you enter into it. The main thing - the ability to continuously concentrate on the work of market research, understanding its mechanisms and participants' interests, it is continually improving its trading approaches and discipline in their implementation. No one has reached Success in this market, going ahead with their capital at the ready. The market is stronger any, it is even stronger than central banks with their huge reserves of foreign exchange reserves. People's hero, George Soros, the currency market does not beat the Bank of England, as many think, it is properly foresaw that in the current contradictions of the European financial system is enough problems and interests that will not allow to keep the pound. And happened. Bank of England, spending about $ 20 billion to support pound, dropped it, leaving the market. The market has understood this problem, and Soros got his billion.

Typical attractive features of the market Forex:

liquidity of the Forex:

market operates huge of money and gives full freedom to open or close an existing position at the moment market quotation. High liquidity is a powerful magnet for any investor, because She gives him the freedom to open and close position of any volume.

efficiency Forex:

by a 24-hour operation the participants FOREX market need not wait to react to an event as it happens in many markets.

availability of Forex:

the ability to trade 24 hours a day, a market participant does not feel the need to wait to react to an event; flexible regulation of the organization of trading Forex: on currency market position may be open to a pre-established period at the request of investor, which allows time to plan for their future activity;

the cost of Forex:

Forex market traditionally does not have any fees, except for the natural market difference bid / ask prices of supply and demand;

uniqueness quotations Forex:

because of high market liquidity, most sales may be performed by a single market price, thus avoiding problems instability that exists in futures and other currency investments, which may at one time and at a certain price sell only a limited amount of currency;

direction of the market Forex:

the movement of currencies has a definite direction, which can be to follow a fairly long period of time. Each individual currency only shows her characteristic changes over time, which gives investment managers the possibility to manipulate the market of FOREX;

margin Forex:

leverage (margin) on the FOREX market is determined only by agreement between the customer and the bank or brokerage firm that provides him access to the market, and is typically 1:100 (maximum 1:2000). In other words, by making a pledge of $ 1,000, the customer may conduct transactions on the the equivalent of 100 thousand dollars. The use of such large leverage, coupled with the strong variability of quotations of currencies, and makes this market highly profitable but risky.

What is the Forex Currency Market?