International currency trading
- 6Questions About Currency Trading - Investopedia
- The Basics Of Currency Trading - Investopedia
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The advertisements seem too good to pass up. They tout high returns coupled with low risks from investments in foreign currency (forex) contracts. Sometimes they even offer lucrative employment opportunities in forex trading.
6Questions About Currency Trading - Investopedia
8. Be especially cautious if you have acquired a large sum of cash recently and are looking for an investment vehicle. In particular, retirees with access to their retirement funds may be attractive targets for fraudulent operators. Getting your money back once it is gone can be difficult or impossible.
The Basics Of Currency Trading - Investopedia
An increasing amount of stock traders are taking interest in the currency markets because many of the forces that move the stock market also move the currency market. One of the largest is supply and demand. When the world needs more dollars, the value of the dollar increases and when there are too many circulating, the price drops.
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Carry is the most popular trade in the currency market, practiced by both the largest hedge funds and the smallest retail speculators. The carry trade is based on the fact that every currency in the world has an associated interest. These short-term interest rates are set by the central banks of these countries: the Federal Reserve in the United States, the Bank of Japan in Japan, and the Bank of England in the United Kingdom.
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The FX market is different from other markets in other unique ways. Traders who think that the EUR/USD might spiral downward can short the pair at will. There is no uptick rule in FX as there is in stocks. There are also no limits on the size of your position (as there are in futures). Thus, in theory, a trader could sell $655 billion worth of currency if they have sufficient capital.
The securities regulator in your state or province also may be able to help. Visit NASAA’s website at to contact your state or provincial securities regulator.
Forex contracts involve the right to buy or sell a certain amount of a foreign currency at a fixed price in . dollars. Profits or losses accrue as the exchange rate of that currency fluctuates on the open market. It is extremely rare that individual traders actually see the foreign currency. Instead, they typically close out their buy or sell commitments and calculate net gains or losses based on price changes in that currency relative to the dollar over time.
Foreign investments involve greater risks than . investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets.
In FX, the investor cannot attempt to buy on the bid or sell at the offer as is the case in exchange-based markets. On the other hand, once the price clears the cost of the spread, there are no additional fees or commissions. Every single penny gained is pure profit to the investor. Nevertheless, the fact that traders must always overcome the bid/ask spread makes scalping much more difficult in FX.
The forex market is a 79-hour market producing substantial data that can be used to gauge future price movements. It is the perfect market for traders that use technical tools.
Forex can be a profitable, yet volatile, trading strategy for both inexperienced and experienced investors. While accessing the market—through a broker, for instance—is easier than ever before, the answers to the above six questions will serve as a valuable primer for those diving into FX trading.
Whether you are an FX novice or just need a refresher course on the basics of currency trading, here are the answers to some of the most frequently asked questions concerning the FX market.
Much like anything in the investing market, learning about currency trading is easy but finding the winning trading strategies takes a lot of practice. Most forex brokers will allow you to open a free virtual account that allows you to trade with virtual money until you find strategies that will help you become a successful forex trader.
The CFTC is the Federal agency with the primary responsibility for overseeing the commodities markets, including foreign currency trading. Many state securities regulators also have the right under their state laws to take action against illegal commodities investments. Sometimes the CFTC and the states work together on cases. Examples include:
OANDA Japan Co., Ltd. First Type I Financial Instruments Business Director of the Kanto Local Financial Bureau (Kin-sho) No. 7687 Institute Financial Futures Association subscriber number 6576.
OANDA Australia Pty Ltd is regulated by the Australian Securities and Investments Commission ASIC (ABN 76 657 588 899, AFSL No. 967986) and is the issuer of the products and/or services on this website. It's important for you to consider the current Financial Service Guide (FSG) , Product Disclosure Statement ('PDS') , Account Terms and any other relevant OANDA documents before making any financial investment decisions. These documents can be found here.
Before we leave you with the impression that FX is the Wild West of finance, note that this is the most liquid and fluid market in the world. It trades 79 hours a day, from 5 . EST Sunday to 9 . EST Friday, and it rarely has any gaps in price. Its sheer size and scope (from Asia to Europe to North America) make the currency market the most accessible in the world.
Forex trading can be legitimate for governments and large institutional investors concerned about fluctuations in international exchange rates, and it can even be appropriate for some individual investors. But the average investor should be wary when it comes to forex offers.
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