What is Forex?
Forex market is one of the largest and most important financial markets around the world in terms of trading, which is more than 3.4 trillion dollars daily volume.
Forex trading is a trading currency against another currency, in order to make a profit.
Currency pairs and trading price
Currency trading is the trading price of the currency pair is quoted as a currency that can be purchased for one unit of the base currency such as the dollar or the euro.
Example: the euro and the US dollar are, of course, the most common and widespread currency pair traded in the market. When looking for the euro exchange rate against the US dollar, then you will want to know how much dollars you can buy in exchange for 1 euro.
If the euro exchange rate against the US dollar 1.2356, it means that you can buy US $ 1.2356 per 1 euro.
As previously mentioned for the Forex market liquidity in excess of 3 trillion US dollars a day trader in the market, we can say that the Forex market is one of the most highly liquid markets in the world. In principle, in other words that you can buy almost any currency at your discretion and at any time when it is an open market.
Hours of opening of the market is the main factor that determines Forex trading advantage?
Forex market effectively, and is open 24 hours a day for five days a week. Trading starts at the beginning of the global central market of New Zealand and then to Australia, Asia, Europe, and finally in the United States in New York in particular, this allows the currency to trade at any time day or night from Monday until Friday.
Factors affecting the Forex market?
There are several reasons that they affect the currency exchange in the forex market prices, such as political and economic changes and monetary policy for the countries. However, as the forex trading live and direct, the speculation is that rapidly affect the price changes in the market.
If you anticipate that factor or event would strengthen or weaken a particular currency, they will trade on the change in the market price automatically, because of supply and demand on the landing currency inevitably will change within the market.
The more the number of customers who expect the movement of the currency has increased in a particular direction will increase the impact on prices in the market.
What should be done when the Forex?
When you decide that trading in the Forex market, you will always be traded on currency pairs, including any meaning you will buy or sell a currency against another currency in order to achieve a certain profit.
For example, if I expected, that the pound will fall against the US dollar, you should buy pounds sterling against the US dollar. But if the contrary I expected, you must sell the pound against the US dollar.
From this point, you can take a confident and focused in the direction you assume that the market will move towards him and therefore this will increase the likelihood of your trading opportunities.
Why are advised Forex Trading with BankGCC?
When you start to forex trading, you'll be able to trade with confidence must.
BankGCC We are committed to a set of fundamentals that define our relationship with our customers. In this sense, we want to provide you with the best tools and personal training needed for trading, where we offer you customer service distinct in several languages 24 hours over 55 days in the week with the most sophisticated and easy trading platforms in use, and pledge to continue to innovate for you.
Now you can open a real trading account and join the GCC Islamic investment bank to gain a better experience in trading.