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All About Broker Forex Trading
Brokers are agents who act as an intermediary for the trader between them and their client. blog here He or she is a shrewd negotiator when it comes to drawing up contracts for the sale of currencies.



Forex is also called the Foreign Exchange Market or "FX" Market. It involves the simultaneous buying and selling of currencies. Broker Forex trading takes place in the Forex market which is the largest financial market in the world and boasts a daily turnover in the area of $1.2- 1.9 trillion USD.

The currencies utilized in broker Forex trading are always quoted and traded in pairs. The currency listed first is referred to as the base currency while the second one is known as the counter currency or quote currency. To use an example of broker Forex trading in pairs would be the US dollar traded with the Japanese yen (USD/JPY) or the Euro traded with the American dollar (EUR/USD).

In the wholesale Forex market, currencies are denoted by five numbers. The last number is called a point or pip.

The broker Forex trading market has a great deal more buyers, sellers and daily volume turnover than does any other financial market on the globe. The Forex market is open 24-hours a day, six days a week with the first trading starting every day in Sydney, Australia. As the business day begins in other financial business sectors so does the trading. The next financial center after Sydney is Singapore, followed by Tokyo, London, and New York City. These are the most powerful and largest financial centers on the planet.

Tokyo begins trading at 7 pm, while Sydney and Singapore begin at 5 pm on Sunday. Next to commence trading is the city of London, England at 2 AM and then New York City begins at 8 AM in the morning.

Forex is a unique market in that it makes it possible for it's investors to immediately respond to fluctuations in currency whatever their cause, be it an economic, political or social upheaval. The most important thing is that they can happen whenever. You don't have to wait until the sun rises in order to resolve a currency issue. It can be resolved at 3 AM, 3 PM or whenever is needed. This means that currencies that are traded daily are not exposed to "after-hours" reports or a possible loss of value.

As with stock markets, the Forex market has no physical address. It is instead called an "interbank" market or an "Over The Counter" (abbreviated as OTC) because all currency transactions take place either via telephone communication or by way of an electronic network.

The Forex market offers many other benefits besides being accessible 24 hours a days. The Forex market has the highest liquidity in the world. Its 100-to-1 leverage allows for large sums of money to be reduced.
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