A forex broker is an intermediary between you and the interbank system. Forex trading is like an orchestra. There are many players, and each has a vital role to play for the performance to be successful. The same applies to the forex market, which consists of various participants. Read on to find more about forex brokers. Introduction To Forex Brokers A foreign exchange broker (sometimes called an FX broker) is a company that offers services to traders and investors who are looking for ways to buy or sell currencies. If you’re planning to trade forex, you’ll work with a forex…
Author: Kent
Kent
Kent has been working in the FX industry since 2012, and has become a successful, experienced forex expert. He is a regular contributor to our website and provides exclusive insights into the financial markets.
When you hear about the forex market, you might think it’s a place for the banks and big institutions to trade currencies. But anyone can trade in the forex market, and that includes you. You probably have seen the term ‘forex’ somewhere online. Whether it was from an advertisement or article or someone who trades the market, this is because forex (also known as foreign exchange) is a vast global market for trading currencies. The Forex market is unique because of its trading volume, which averages $5 trillion per day worldwide! This is larger than all other markets combined! The…
Fundamental analysis is forecasting future currency value by analyzing all of the economic, political, and social factors relevant to it. The goal of fundamental analysis in forex is to evaluate a currency’s intrinsic value, which can help determine whether a currency is currently over-or under-valued compared to another. Fundamental analysis can help you create a profitable forex trading strategy by giving insight into how political and economic events affect supply and demand for currencies. For example, if traders believe that an economy has become too weak or is in danger of becoming so, they may sell that currency in favor…
Ethereum is the second-largest cryptocurrency in market capitalization and one of the mostpopular cryptocurrencies among investors. Ether is traded on the forex market through brokers.It’s easy to buy or sell it. As a commodity, the price of Ethereum can go up when its demand goes up and vice-versa. Several major forex brokers listed ETH/USD at the end of 2017, increasing its popularity and liquidity to new heights. Ethereum’s average daily trading volume exceeds $19 billion, and its market cap is approximately 362 billion. With so much trading, you can take advantage of these opportunities and trade ETH with forex brokers.…
Most people ask, “What is balance and equity in forex?”. Balance and equity are quite similar, but “equity” refers to your account’s total value, including any unrealized profits or losses. The term “balance” is used to describe your remaining funds, that is, how much money you have left in your trading account at any given point in time. If you have no trades open, then equity = balance. But once you start opening trades, they will affect your equity on the platform, and it will no longer be equal to the balance. What Is Balance In Forex? Balance is a…
Ripple(XRP) is currently one of the most profitable cryptocurrencies to trade. It has a market capitalization of approximately $18billion, which places it in third place after Bitcoin and Ethereum. The Ripple block chain platform was launched in 2012 to help banks settle cross-border payments more efficiently. Ripple has been quite successful in its endeavor. Today, it is used by more than 100 financial institutions in over 40 countries. It recently partnered with American Express to help speed up cross-border payments between the United States and Britain. This partnership will help American Express customers send US dollars to British pounds through…
The nonfarm payroll report (NFP) is a key economic indicator in the United States. It represents the total number of paid workers in the US, excluding agricultural employees, government employees, non-profit organization employees, and domestic workers. The monthly non-agricultural payroll report is a major economic data release. It often causes significant market volatility, and a larger price movement than most other economic news releases. Because of this, many analysts, traders, funds, investors and speculators try to predict what the NFP report numbers will be, and what affect it will have on price movement. They then enter the market and use…
Risk management is a broad term. It encompasses every aspect of FX trading from the initial risk-assessment phase, leverage, the entry and exit strategies, and finally, the amount of capital or money you are willing to risk on any one trade. A successful trader will pay attention to each of these areas in their trading plan and ensure that they are in line with their overall trading goals and objectives. If traders cannot control risk, they will not be able to achieve long-term success, regardless of analysis or execution. Risk management in forex trading is also an ongoing process; it…
HotForex has been offering forex trading services for over a decade, opening its doors in 2010. The company’s head office is located in Mauritius, and it also has offices in Cyprus and Seychelles. HotForex is a multi-asset broker that offers trading in more than 150 financial instruments across the foreign exchange market and CFDs on commodities, indices, energies, stocks, bonds, and cryptocurrencies. The broker is regulated by various regulatory bodies such as CySEC, FSCA, and DFSA. HotForex is an award-winning forex and commodities broker, providing trading services and facilities to retail and institutional clients. Through its policy of providing the…
The forex market will always be unpredictable. You never truly know how the market is going to move, and prices can change very suddenly. That’s why having a stop-loss can be helpful. What is a Stop-Loss? A stop-loss order enables you to exit trades automatically, when a predetermined price is reached. This, in turn, enables you to manage your risk and limit any potential losses. Let’s take a look at an example. Say you buy EUR/USD at 1.1708 expecting it to rise. With this in mind, you set up a stop loss at 1.1688 which accounts for 20 pips. In…