Electronic Communications Networks, or ECNs, are electronic trading systems that automatically match up pairs of buy and sell orders at given prices. There’s a fair few sites around the place that tap into these in one way or another to provide a forex trading service. This said, these are very definitely for the bigger player than the average (small) trader on the retail forex market.
Continue reading »
The boring stuff that you probably ought to know - if you’re going to make a successful trader.
There’s quite a few people who trade on the retail forex market every day, who watch their charts go up and down, click on their trades, but only have the very vaguest idea of what’s happening in the big wide world out there. Here’s the very simple version – how the retail forex market works in relation to the world of the big players, banks, institutions, the people we love…
Two quick points to clarify first (which you may well know already).
The Interbank Level
The top level of the fx market is known as the Interbank level. It’s not a centralised exchange, in the same way as stocks usually will have an exchange, with intermediate brokers entering the market on behalf of clients – the Interbank level is essentially a collection of bids and offers existing at any one time in order to make potential currency transactions.
Continue reading »
Today, let’s have a look at one of the entrants in the global forex broker’s market, HYMarkets – offering mini, standard and premium accounts which allow you to trade forex, oil, precious metals, together with other commodities – and you can open an account with just $50.
About HY Markets
Live prices, Dow Jones news, market information and calendars, advanced charting systems, and technical analysis tools to give you a competitive edge. The online trading platform is supported by a promise of 24 hr live support via telephone, email or chat.
Continue reading »
When you’re learning your way in the forex trade, regulation is something in the small print to be glossed over.
Some sites offer services to US residents only, some are for EU residents only, others are open to all – nothing to do with the trading, it depends how they operate in their local jurisdiction and how they are regulated.
1. It’s kinda obvious, but maybe stay well away from non-regulated forex brokers…
2. It’s also kinda obvious, but among brokers registered with a regulatory body, look for those with a clean regulatory record.
You can, if you want to have a go, search around for the financials of a given company. There’s information and opinion available from a variety of web sources. But then Enron showed a clean set of financials to the world for quite a long time…
Continue reading »
Or ‘no interest’ accounts – more common nowadays across the internet are spot forex accounts that do not levy or pay swap interest. These are often referred to as an “Islamic Account” – because Islam prohibits the levying or paying out loan interest, which a forex trade is taken to be….
If you’re a day trader, closing trades before your broker’s daily cutoff time, this problem isn’t going to arise, but occasionally there are forex systems and stategies that could benefit from this approach.
Continue reading »
Well, I’ve never totally understood why people use credit cards on the internet anyway…
Give over just one number and they can debit your account at any time they feel like?
Credit card security
Most forex brokers will accept deposits by credit card, wire transfer and, in some cases, checks by good old snail mail. However many forex traders share the view about the use of their credit card online and the possibility of endangering their saving account.
Continue reading »
Comments(2) 
Loading ...