Frequently Asked Questions
Over 5 Trillion Dollars is exchanged every single day on the foreign exchange market. The 8 main Foreign Exchange trading centres in the world are: London, New York, Hong Kong, Sydney, Paris, Tokyo, Zurich and Singapore.
The Foreign Exchange Market is often known as the Forex Market or the FX Market. Foreign Exchange is the exchange of one currency for another, or conversion of one currency into another.
For example If you were to exchange Euros into Dollars, then you would be given an exchange rate of how many dollars you would get for the amount for the amount of euros you are going to exchange. If the Eur/Usd exchange rate was 1.11 and you wanted to exchange 200 Euros then you would have 222.00 Dollars.
The Forex Market is open 5 days a week. It opens Sunday night at 10pm (GMT+1) and closes Friday night at 10pm (GMT+1). The markets run 24 hours during this period.
The Foreign Exchange Market is traded by businesses, investors, banks and retail traders. A retail trader is an individual trading their own personal capital, not for a business or organization. Forex trading is done by speculation through fundamental and technical analysis. Many people all over the world trade the forex market with different types of technical analysis to gain a bias whether the next move for the currency pair is going to be up or down. Each individual has their own trading account that is provided by a broker that allows you to enter and exit a trade when ever you want.
The course begins now and never closes! It is a totally self-guided online course – you choose when you begin and when you wrap up.
How does lifetime get to sound? In the wake of selecting, you have boundless access to this course for whatever length of time that you like – overall gadgets you possess.
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A Forex broker is a company that provides currency traders with access to a trading platform that allows them to buy and sell foreign currencies. A forex broker allows you to simply trade the foreign exchange market with ease from your laptop.
It is very simple to get a broker as it is all done via internet. All you need is a computer and internet connection. There are many different brokers all across the world, however we recommend EXNESS.
If you do prefer to use a different Broker, that’s completely up to you.
PLEASE DO NOT FEEL THAT YOU MUST USE THE SAME BROKER AS WE DO.
Forex scams will be around for as long as the Forex market exists. As schemes are evolving, scammers are always somewhere nearby, trying to extort your money away. But could there be a solution to this problem?Investment scams take many different forms. Some of the scams are even named after their creators – such as a Ponzi scheme, after the infamous scammer Charles Ponzi. Forex scammers tend to target beginners or uneducated traders. The best way to combat this, and avoid getting scammed, is by getting a good forex trading education , so you are aware of everything before you enter the markets.Once you master the markets, you are no longer an easy target. Forex scams often use phrases like “a too-good-to-be-true investment opportunity” as a way of convincing you to part ways with your money. When you lack trading experience, swindlers will try to exploit your optimism and fears. Here’s where Forex scammers step in and make you exciting offers.How To Spot A Forex Trading ScamThe most important giveaway of a Forex scammer is the guarantee of unusually large profits with little or no financial risk. First of all: there’s no such thing as a 100% guarantee. If there was, there’s no way traders would share it with other market players. Some of these offers may sound very attractive, especially to beginning traders. But as the saying goes, the only free cheese is in the mouse trap. The bottom line is this: if something sounds too good to be true, it probably is.Here a few simple rules to follow in order to avoid scammers:Remain safe and don’t run after empty promisesBe especially wary of software that claims to have found a ‘secret formula’Do not install any programs until you are certain they won’t damage your computerAnother giveaway is that scammers never register with any regulatory authorities. Remember – true brokers always provide proof of their legitimacy. If you suspect that a Forex broker is lying about their regulation, you can contact a regulatory authority who may be able to provide a list of regulated companies, and a list of cases opened against regulated companies. This will help you understand which Forex brokers to avoid.