Online Forex Trading Information, News and Reviews
Forex or Currency trading has been around for years and started trading electronically as a closed interbank system in the 1980s operated by Reuters enabling banks to contact each other for forex price quotes. This early electronic system existed, at the time, alongside a global telephone network of brokerage firm’s forex dealing desks.
From the beginning of the 1990s the modern form of electronic forex trading was introduced and has largely replaced the telephone network and dealing desks. The new systems are matching systems enabling the inter-bank market to enter bids and offers on forex trading prices from other banks.
The real advances, that allow individual traders like you and me access to the forex market, started at the start of this decade as the major global banks developed their own trading platforms. These platforms allow forex trading directly on live streaming prices. At the same time retail forex brokers developed their own online trading platforms specifically aimed at the ‘work from home trader’.
Estimates put the daily forex trading volume at more than $2 trillion per day making the forex market by far the largest financial market in the world, surpassing all other financial markets combined!
Some 90% of that volume is thought to be speculative trading. That is, traders buying and selling on the basis of rapid price changes for short term gain.
The forex market never sleeps or takes a vacation. Open 24 hours a day the market barely takes a breather. Open from early Monday morning in New Zealand (Sunday afternoon in the US, Sunday evening in Europe) until Friday’s New York close, the market remains hyperactive.
Few trading restriction exist. No limits on positions size with traders operating on Margin multiples and remember, you are just as likely to be selling short as buying long with positions are not usually held for more than a few days.
You can make a small fortune, if you get it right, you can lose one just as quickly.
But we’re here to help. Let us guide you through the forex stock trading minefield!
Check out our forex trading information pages at any time. We will be adding to these as we go along. Feel free to add your suggestions, comments or questions. Or get in touch at any time via the Contact form or post a comment on our blog.
In addition we will be reviewing various products and services that are available to help you make the right choices.
We have started with a review of some popular robot forex trading systems and you can see our ratings on the forex trading robot reviews page.
Happy Forex Trading! Here’s to your success!
PS. If you are interested in online stock trading why not visit our sister sites MarketCap Mania for all the latest or MicroCap Mania which focuses on penny stocks.
