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The Foreign Exchange Market (better known as the FOREX or FX market) as we know it today was established in 1971, following the abolishment of fixed currency exchanges. Operating 24 hours a day, 5 days a week, the daily currency trades on the FOREX market are worth in the region of $1.9 trillion US dollars making it the world's largest market and putting the major stock markets firmly into second place. About the Author: David Shephard. Please take a moment to visit http://ForexOnlineTradingSystem.info to learn more about Forex Currency Trading or http://ForexOnlineTradingSystem.info/Forex-Trading-Online.html for information on Forex Trading Online.
So just what is FOREX trading and who are the players in this market?
Put simply, the FOREX market is a world-wide market for buying and selling currency and involves both major organizations, such as central government and international commercial banks and commercial companies, as well as smaller players in the form of brokerage houses and individual brokers. Unlike the better known world stock markets however the FOREX market does not have a 'home' as such, although there are major trading centers around the world in cities such as New York, London, Tokyo, Frankfurt and others. The FOREX market is in effect a 'digital' market, with trades being carried out by telephone and increasingly over the internet.
The buying and selling of currencies is necessary to support trade between countries in today's global marketplace and, as the major world currencies fluctuate against one another there is, and will continue to be, money to be made from currency transactions. The major players in the market are of course buying and selling in single deals often running into many millions of dollars. The smaller players however, the brokerage houses and individual brokers, are often trading in individual deals of as little as one hundred thousand dollars.
So what exactly does this mean to you sitting at home and surfing the internet?
It means quite simply that you too can join this market and, providing you take the time to learn the ins and outs of the currency markets and have a little bit of capital to invest, you can enjoy a very reasonable income from your online trading efforts.
You will not of course be able to trade on your own and will need to use a broker, but many brokers will allow you to open an account online and start trading with anywhere between $250 and $1,000.
FOREX trading is not everybody's cup of tea of course but its major advantage lies in the fact that it is a highly liquid market that does not involve the commission payments and paperwork which many people find a problem when it come to many other forms of trading.
It is, however, a 'technical' market and you should not venture into it unless you are prepared to take the time to learn the basic principles underlying this currency market and to become competent in the use of some of the 'tools of the trade', such as technical and fundamental analysis. But don't be put off by this. It is not necessary to become an expert in these markets to profit from them. With a little time and effort you can quite easily gain enough of an understanding of the currency markets to start making money through online trading and, in time, you will be surprised at just how quickly you can become quite an expert.
Forex News News
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LONDON, Aug 28 (Reuters) - The euro rose on Thursday, adding to its recovery from a six-month low against the dollar a day after comments from European Central Bank policymakers dimmed speculation that its next move on interest rates would be a cut ...
Read moreFOREX-Euro extends recovery, lifted by ECB rate talk - Forbes
LONDON, Aug 28 (Reuters) - The euro strengthened broadly on Thursday, extending its rebound from six-month lows against the dollar a day after comments from European Central Bank policymakers dimmed speculation the bank will cut interest rates. ECB ...
Read moreFOREX-Revised ECB expectations, oil lift euro; dlr eases - Reuters
Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of ...
Read moreForex - Asia currency summary - Forbes
Grand Prize - Luxury Trip to London for Two NEW YORK , Aug. 27 /PRNewswire-FirstCall/ - Finotec Group, Inc. FTGI , an on-line foreign exchange company whose UK subsidiary, Finotec Trading UK Limited, is regulated by the FSA in the United Kingdom ...
Read moreFinotec Group, Inc. announces World Forex Trading Contest - MSN MoneyCentral
NEW YORK, Aug 27 (Reuters) - The dollar slipped on Wednesday as investors bet the U.S. currency's recent jump to 2008 highs against a basket of currencies was too far, too fast given hawkish rhetoric from a European Central Bank policy-maker. The ...
Read moreFOREX-Dollar down from 2008 high with Weber lifting euro - Reuters
TOKYO, Aug 28 (Reuters) - The dollar slipped from a six-month high against the euro on Thursday after comments by European Central Bank officials the previous day scaled back speculation about an ECB rate cut. ECB Executive Board member Axel Weber ...
Read moreFOREX-Dollar slips against euro on ECB remarks, oil - CNBC
NEW YORK, Aug 26 (Reuters) - The U.S. dollar held gains on Tuesday after minutes from the last Federal Reserve meeting provided no surprises, highlighting both risks to the economic growth outlook and concerns about rising inflation pressures. The ...
Read moreFOREX-US dollar holds gains after Fed minutes - CNBC
For company board meeting and results dates double-click on <BSE/MEETINGS1>, <BSE/MEETINGS2>, <BSE/MEETINGS20>. To navigate forward and backward between pages use function keys F11 and F12. For a timetable of economic indicators, double-click on [ID ...
Read moreDIARY - India - Aug 28-Sept 27 - Reuters India
The Indian rupee was steady at 43.73/74 against the dollar in volatile trade today on alternate bouts of small buying and selling. At the Interbank Foreign Exchange Market (Forex), the domestic unit resumed higher at 43.70/72 a dollar, but later ...
Read moreRupee rules steady at 43.73/74 against dollar - Mid Day.com
MUMBAI, Aug 28 (Reuters) - Indian shares could drop on Thursday as oil prices rose for a fourth day, raising the risk of higher inflation and firmer interest rates. "We are likely to see a lacklustre day with underlying pressure that could bump the ...
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