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Written by ForexCult Team
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ILS ILS is actually an abbreviation for the New Israel Shekel, in case you are unaware of what ILS means. If you are considering becoming a trader in the currency markets, you are going to need to make sure that you familiarize yourself with the abbreviation along with the meaning of the term. A part of being involved with the forex market means that you are going to need to learn about the currencies which are different and that you are also going to need to know the definition as well. A good advantage that you would have as a trader would be you taking the time to learn the history in place behind the currencies which are different as well. Based on the actual fact that there is a lot of information that you are going to have to learn in order to actually be a successful trader, there is not going to be a lot of time that you can spare to learn the history of ILS so I am going to try to actually take the right amount of time to give you a little insight into the history of ILS so that you dont have to do it yourself. If you want to be informed about ILS or any other currency, it really isn’t a really hard job all you have to do is actually put up some effort and a little bit of your time. When it comes to learning the resources about ILS, it is not going to just come to you, you are going to have to familiarize your brain with the term ILS along with the meaning and you also need to make sure that when you are learning this information that you have gotten the right resources about ILS as well. Learning the Background of ILS Now that you know that you can learn about ILS, let’s go over some tips that you can take into consideration when you are learning about ILS so that you will have something to work with. When it comes to the shekel which is the ILS, the word shekel has actually been derived as a part of the ancient unit that referred to the actual amount of weight that is known to amount to one single ounce or roughly twelve grams. If you are looking to learn about when the ILS first came about, the ILS was introduced by a Bank that was located in Israel in the month of September on the fourth day of the actual year of nineteen eighty five. The reason that the ILS was actually introduced was so that it could replace the old form of the shekel which was actually being used at that current time. When it comes to the rate of the new ILS you will learn that it was actually a thousand times the actual amount that the old shekel had. When you are learning about the ILS, you also need to take into consideration that the old shekel was able to replace the Israeli Pound which took place during the actual month of February of the year nineteen eighty and it was on what was considered as the twenty fourth day of month as well, the actual going rate was known to be one unit of the old shekel to be used up against ten pounds. The ILS has also been a freely convertible currency since two thousand and three during the first day of the month of January and what that means is that all of the actual capital controls which been totally removed. You may be thinking that all of the information that I have just told you about the ILS is relevant but that is not the case at all. This information about ILS, even though it may not seem that important now will play a major role in the career of trading that you have ahead of you. One thing that you should always remember is that it doesn’t matter if you have a currency like the ILS or the USD you is going to need to know information about them. The Look of the ILS No, you don’t have to know what the ILS looks like, but it would be a good idea to get a general description of the ILS. In all actuality the ILS is known to be a gold coin and it is also known to have a very unique style. Sometimes it will be the little bits of information about the ILS that is going to help you to remember the major stuff about the ILS that you are going to need to know. The reason that you shouldn’t avoid the smaller pieces of information about the ILS is because of the fact that all information about the ILS is going to be important. ILS is just one of the currencies that you are going to have to learn about. Taking that into consideration if ILS is just one of the currencies that you have to learn about, you can use the information that you get about ILS as a reference guide to see what you need to learn about the other currencies which are similar to the ILS.

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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.
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