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Article » GBP
GBP
May 18 2007, 05:20
GBP

As you may already know there are a lot of currencies that are traded in the forex market. In this article, I am going to take the time to tell you about one of those currencies known as the GBP. I think that it is very important for a trader to actually take the time to learn information about the different types of currencies that are traded in the forex market and that is the main reason that I am choosing to tell you about this particular currency known as the GBP. In this article, you will be able to learn everything there is to know about GBP from what it stands for to where it originated from and these are really important factors to take into consideration when you are trading. Remember that it is not required that you learn all of this information by heart, however it is a helpful idea to make sure that you take the time to familiarize yourself with them so that you don’t get confused and mess up when you are trading. You have to be able to know what the symbols mean so that you will be able to trade effectively.

The GBP

GBP is known as the pound which is divided into one hundred pence. The GBP is the official known currency of the United Kingdom as well as the Crown Dependencies. The nickname for the GBP is known as the quid and is very commonly use in the United Kingdom. When it comes to the GBP its official name is known as the pound sterling and is normally used in formal contexts not to mention when it is actually necessary to be able to distinguish the type of currency that is used within the UK from the others that also share the same name as well. The actual name of the currency and not the actual name of the units is normally abbreviated to just plain sterling, you will find that this is particularly the case in the wholesale financial market. The term that is precisely used in the United States media as the British Pound is not the official name of the currency.

Learning about the GBP

The actual pound was known as the original value when it came to one pound tower weight of actual sterling silver. When it comes to the symbol of the GBP it is the pound sign with a total of two cross bars, at least that was what it was originally. You will find that in the United Kingdom, the laws of actual legal tender are known to be uniquely complex. Actually when it comes to the Royal Mint they say that the legal tender actually means that a certain debtor can not successfully be in fact sued for actual non payment if he or she takes the steps to pay into a court in actual legal tender. I am not going to sit here are go on and on about how the system works but if you would like to know more about the GBP and how the system works in the United Kingdom, then you can go online or to a local library and look up GBP and see all the wonderful pieces of information that is out there for you to learn.

GBP Overall

In this article, you have learned what GBP stands for and what GBP originates from. If you think that you haven’t got a firm grasp on GBP, then I think that you should take the time to actually sit down and read some information on GBP. There are dozens of different books out there that you will be able to read as well as going online and researching GBP there as well. All the information that you will find is going to help you out a lot when it comes to GBP and the forex markets. You may also want to take a look into GBP if you are planning on taking a trip where you are going to have to trade your currency for the GBP. You will need to know how much the GBP is worth when it comes to your money of the country that you are in. GBP could be of lesser value to your currency or the GBP could be a higher values you to your country it all depends. That is why it is important that you learn about GBP and that you take the steps to actually familiarize yourself with the GBP. If you are going to be trading the GBP, then you are going to need to know every piece of information that you can get on the GBP. Just think about trading overall, if you are going to be trading GBP then you are going to need to know what GBP is entitled to and what GBP actually means. If you do not actually understand GBP you will ever be able to trade successfully. So learn about GBP and you want have a problem in the world.
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Interview
with Matthew Sheppard
Senior Forex
Advisor at XForex


1. What is your name and position?
Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?
In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?
We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?
Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?
Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..
Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?
My advice to the beginning trader entering the Forex world is as follows:
• Learn the market and understand what you’re getting into.
• Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
• Invest smartly and calculate your risks
• Always know when to get out of a trade

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