Introduction to the Foreign Exchange Market

June 29, 2013 6:55 pm

forex_vs_binary_optionsThe Forex market has been operating for years, and it has helped hundreds of people become rich. Of course, remember that Forex trading doesn’t necessarily guarantee easy money. In order to be a successful Forex trader, you’ll need to devote a lot of your time and money to this cause.

The people who became rich thanks to the Forex market spent years trying different tactics and investing tremendous amounts of money in the market. Of course, they were confident of their skills and knowledge, and they knew that with enough time, the right strategy, and proper control of their emotions, they would one day be successful. Nowadays, the Forex market is a huge industry that generates billions of dollars of trading volume on a daily basis.

While in the past Forex trading was mostly done offline, nowadays you can start Forex trading from your own home. This is done thanks to the hundreds of Forex brokers that provide you with the software and information required to participate in the market. The Forex market is always changing, so trading online is a great way to keep up the most recent changes and to be able to quickly make the right trades.

Best Forex Brokers for 2012

Forex Broker Regulation Platforms Deposit & Leverage Open an Account
Central Bank of Ireland, C53877 MetaTrader4, Mirror Trader, ActTrader Min Deposit: $100; Max Leverage: 1:200 Open Account Read Review
Cypriot Securities & Exchange Commission MetaTrader, eToro WebTrader, eToro Mobile Trader Min Deposit: $50; Max Leverage: 1:400 Open Account Read Review
Cypriot Securities & Exchange Commission MetaTrader4, Market Trader, Mobile Applications, ActForex Min Deposit: $100; Max Leverage: 1:200 Open Account Read Review

The term foreign exchange market isn’t entirely correct. A more suitable name would be the foreign exchange markets, because there are several such markets operating. Currently, the markets are located in New York, Frankfurt, Zurich, London, Paris and Tokyo. Each one of these cities is situated in a different country, so the market operates in different time zones.

This is why the foreign exchange market is available 24/7 and you can trade at any time you want. The Forex market can be accessed by anyone, and you would be surprised how many different people take part in it. Of course, apart from people, the market is also used by hundreds of companies, banks and other financial institutions. T

he foreign exchange market is available around the entire world, and all you need to participate in it is a computer or mobile device with Internet. Of course, keep in mind that in order to make money from Forex trading, you’ll first need to choose the services of a Forex broker, open a account on their website, and deposit money into your account.

The Forex market can help you make a lot of money, but this won’t be easy and quick. You need to read a lot about the market, get familiar with the most popular strategies and systems used by successful Forex traders. Developing your skills will cost you a lot of time, and in some cases money, but you need to be prepared to make sacrifices in order to progress.

If you have never participated in the Forex market before it is strongly recommended to start trading with a demo account. These accounts are offered by most brokers, and they allow you to make trades by using virtual money. This way you can test different strategies and get familiar with the interface of the trading platform your broker supports. When you think you have enough knowledge, experience and confidence, you can move on to the real Forex market and start making money.

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

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