Online Forex : Online Forex Today
Banks and institutions that wish to trade currencies use the Foreign exchange market for that purpose. Going by volume, the foreign exchange market ranks as the biggest market in the world. The amount traded per day is in the vicinity of 4 trillion dollars. Even the mighty New York Stock Exchange only trades a paltry 30 billion a day in comparison. In terms of scale, if the NYSE was the moon, the foreign exchange market is a gas giant. Further growth is expected due to the popularity of forex trading via the internet.
The forex market consists of many smaller markets around the world that form a single market. Despite this, there are a few locations around the world that serve as financial centers. They include London, New York, Tokyo and Hong Kong. The foreign exchange market is a true 24 hour a day, 5 day a week market. It is closed for trading during the weekends. A typical trading day sees markets opening in Asia (Australia, Singapore, Tokyo, Hong Kong) as it moves to Europe before finally ending with the US session.
The popularity of the internet as a viable medium for commerce has also spilled over to the stock trading, forex trading, commodities trading and futures trading markets. Just about any securities that can be traded can be done so via the internet.
As such, the web has given rise to a new army of forex online traders that are becoming increasingly proficient in the industry. Which is great news for online forex brokers. For it is common knowledge that forex beginners are there simply to lose money in the first year. Due to the speed at which the forex market moves sometimes, huge profits or losses can be sustained in a matter of minutes.
The road for new forex traders is fraught with danger in this exciting market. It is best to start from the basics instead of rushing headlong into any trading systems. Learning from the beginning means avoiding all forms of automated software and forex signals. Head on to forex factory, dailyFX and investopedia and start gleaning all you can from these excellent websites. - 23305
The forex market consists of many smaller markets around the world that form a single market. Despite this, there are a few locations around the world that serve as financial centers. They include London, New York, Tokyo and Hong Kong. The foreign exchange market is a true 24 hour a day, 5 day a week market. It is closed for trading during the weekends. A typical trading day sees markets opening in Asia (Australia, Singapore, Tokyo, Hong Kong) as it moves to Europe before finally ending with the US session.
The popularity of the internet as a viable medium for commerce has also spilled over to the stock trading, forex trading, commodities trading and futures trading markets. Just about any securities that can be traded can be done so via the internet.
As such, the web has given rise to a new army of forex online traders that are becoming increasingly proficient in the industry. Which is great news for online forex brokers. For it is common knowledge that forex beginners are there simply to lose money in the first year. Due to the speed at which the forex market moves sometimes, huge profits or losses can be sustained in a matter of minutes.
The road for new forex traders is fraught with danger in this exciting market. It is best to start from the basics instead of rushing headlong into any trading systems. Learning from the beginning means avoiding all forms of automated software and forex signals. Head on to forex factory, dailyFX and investopedia and start gleaning all you can from these excellent websites. - 23305
About the Author:
Vincent Khoo has been trading the stock market and the forex markets for the better part of the decade. He has penned articles for a wide variety finance portals as well as the articles Forex Trading and Forex.
posted by Mr. Forex at
6:10 AM
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