What you need to know to trade in Forex?
The Foreign Exchange market, also referred to as the “Forex” market is the most traded financial market in the word with a value of approximately $3.98 trillion. It is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.
When is the Forex market open for trading? A true 24-hour market from Sunday 10:00 PM GMT to Friday 10:00 PM GMT. Unlike any other financial market, investors can respond to currency fluctuations at the time they occur - day or night.
What are the most commonly traded currencies? Over 85% of all daily transactions involve trading of the major currencies, which include the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and the Australian Dollar (AUD).
Is Forex trading expensive? Depending on your broker you can trade Forex with a deposit as less as $100. Amazingly Forex allows customers to execute margin trades at up to 200:1 leverage (again this depends on your broker). This means that investors can execute trades of $10,000 with an initial margin requirement of $50.
What is margin?
It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. Basically it allows you to use very small amounts of money to trade very large amounts.
What tools do I need to begin trading Forex? A computer with an internet connection (or a Virtual Private Server for remote trading). It’s that simple!
What trading software do I need? You simply need to download and install MetaTrader 4 and you’re good to go!
Do I have to execute the trades myself? For and Pro Trade Executive you receive trading signals therefore you would need to manually enter them yourself. Pro Trade Wireless and Pro Trade Swiper Deluxe are automated systems which will automatically trade for you. http://www.superprofitsmedia.info/pro-trade-copycat-review/
