Foreign exchange market is the global international market where currencies act instead of goods. Its distinctive feature is that the prices are formed on the basis of the agreement between participants and depend only on supply and demand on this or that currency.
The exchange can be compared to office where one currency is bought and another is sold. Unlike other markets Forex has no concrete platform — trade in is conducted on the Internet that is called online forex trading. Forex robot is a program, capable to carry out in the terminal any actions on the instructions of the trader without his direct participation. The program will make all received tasks automatically or mechanically therefore robots are called “experts” or mechanical trading systems (MTS).
Forex rates are units of one currency expresse
d in units of another. Forex trading permits you to both sell each currency pair, and buy, therefore for it there are two prices — Bid and Ask. Each Fx currency is designated by a trigram code. For example, the currency pair «US dollar — euro» looks as follows: EURUSD.
The currency standing at the left is called base currency (in this case it is EUR), and located on the right — quotation currency (in our example — USD).
Forex broker is a legal entity or an individual who is carrying out intermediary functions between the seller and buyer of securities on behalf of the client. The broker, as a rule, receives commission for each transaction.
Forex calendar of events and forex charts reflect daily economic indicators and events in the market Forex, capable to affect cost of currencies.
Fluctuations of currencies are influenced by the widest range of factors. Therefore operative receiving and the professional analysis of news of the market is pledge of successful trade. Forex news is a tool that should be in the arsenal of any trader.
But it is very important to get fresh information. Moreover forex directory can also be of great use. Such Directory is a source of information about trade, live forex rates, currencies in the market, Indicators, programs, strategy , books and literature, Forex training how to trade, analytics, forecasts and trading signals.