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Forex Trading Education

Written by ForexCult Team
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Forex Trading Education If you are interested in trading in the forex market, it is very important that you get a forex trading education. In the year of nineteen seventy one, the forex market which is also referred to as the foreign exchange market was established as what was known as an interbank or in other words an inter dealer market. Since nineteen seventy one, the forex market has went through a tremendous growth so as a result there are also foreign currencies that are also being traded actively on the home computers. One thing that you need to know that will be important for your forex trading education is that the term foreign exchange relates to the actual changing of one individual currency into a different currency. Some more information that you can use for your forex trading education is that you are able to purchase as well as sell the foreign currencies in the different conditions of the market. You should also know that the forex market or the foreign exchange market is actually known to be the biggest single financial market that is located within the entire world. In fact, it is known that the actual forex market rakes in about two trillion dollars in one day of operation. Another important factor that you may want to take into consideration in your forex trading education is that the United States Treasury Bond market only averages bringing in about three hundred billion dollars a day and the United States Stock Market only averages ten billion dollars a day. Parts of your Forex Trading Education When you are learning your forex trading education, you should break all of the information down into parts so that you are able to learn it better. Some parts that you may think about breaking the information down into may be the basics of forex trading, the background of forex trading as well as the different types of forex trading. The main reason that you are going to want to break this information down is because you are going to want to make sure that you don’t get any of the information mixed up so that you don’t get confused. When it comes to the location of the forex market, you should know that there is no actual centralized location that is associated with the forex market like there is with the stock market or the futures market. However you will find it amazing that the forex markets are actually traded over the terminals of computers. Another way that the forex markets are different from the traditional markets is because of the fact that the forex markets actually trade on a twenty four hour seven day a week period around the whole entire world and with the trading volumes that they possess the actual liquidity is nearly perfect. Basic Understanding of Forex Trading Education One important thing that you are going to need to know as part of your forex trading education is that the forex markets are known to move up as well as move down because of the economic as well as political and also the psychological factors that affect it. You will find that in a single day there are a lot of different movements that take place in the major currencies which in turn offers the traders excellent opportunities for trading when it comes to the speculators. Also you may find it interesting that because of the fact that the margin requirements are known to be relatively small there is a tremendous amount of leverage that is available. However on the other hand due to the extreme amounts of liquidity that is present, it is known to be very easy to actually be able to control the risk that is involved for those traders that understand the importance that is associated with money management. Getting Your Forex Trading Education Where you receive your forex trading education really doesn’t matter, you don’t have to go to college and all of that but you can get online and check out books from the local library so that you are able to get the knowledge that you need so that you are able to be successful at forex trading. Believe it or not there is a lot of different bits and pieces of information that you should know about forex trading and even though they may seem to have no importance at the time that you are learning them you will notice as you begin to trade more and more that they are important and that you are never to experienced to learn something new.

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Which is the Best Forex Broker you have traded with?

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.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.