In the stock market we trade a single stock or in the case of an ETF a basket of stocks but in the FOREX market we trade a currency pair. Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time.
Investing in online trading is a great alternative to achieve good profits, online forex trading business is very effective if you have knowledge and tools to operate.
WHEN IN MANILA and looking for investment options, you may want to try trading the FOREX Market. Forex is known as foreign exchange market, currency market or fx trading. In a nutshell, it is simply where one currency is traded for another. Similar to stock market, the aim of forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.
Important news that concerns currency fluctuations are most likely to be released worldwide at the same time, giving foreign exchange market little or no inside information. FOREX is an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair.
The FOREX market is open 24 hours per day throughout the week between individuals with Forex brokers, brokers with banks, and banks with banks.
Some Forex brokers give up to 1:400 leverage, meaning trading $1 can be equivalent to trading $400.
Good Forex Brokers will let you deposit or withdraw your funds and earnings fast and smoothly. There are only a few credible Forex Trading teachers or Forex Trading mentors here in the Philippines. In the Philippines and for OFWs I guess the best well known currency we are handling is the US Dollar and the Philippine Peso. To profit in the FOREX Market we got to buy when the exchange rate is going up and we have to sell when the exchange rate is going down. A demand for a certain currency rises when people think its value as reflected in country of that currency’s economy is strengthening. I am an online forex trader myself and I am happy to share some tips on FOREX TRADING and how to get started on Online Forex Trading here in the Philippines. Average daily international forex trading volume was $4.0 trillion in April 2010 according to the BIS triennial report. It is necessary that your forex broker fill you in with the best possible price for your orders.
A forex broker that forces you to use high leverage is probably trying to help you lose your money.
Some forex brokers even extend their hand by giving more options like paypal, credit card or western union.
What started as a small blog from Manila, quickly turned into a platform, an online magazine that boasts the stories from Manila, the Philippines and the world. Don’t get intimidated by this, just make sure you follow these simple reminders on how to choose the right Forex broker.
Be aware that some forex brokers have a variable spread that changes with market conditions (ex. A forex broker that has a fast order execution is definitely an advantage especially in volatile markets. This will give you the competence of the forex brokers when dealing with trouble shooting which will be critical if something wrong happens to your account. You should be able to call your forex broker and have your leverage changed any time that you need it to be. On Saturday, March 17, 2012, Mark So will be conducting a SEMINAR on FOREX TRADING, where he will be discussing steps and guides on HOW TO TRADE FOREX.
How to trade binary options profitably