Trading the foreign currency market, or the Forex Market, as it is commonly known, is the most developed financial market in the world. The Forex Market is not concentrated in any one exchange, rather the vast majority of forex trades are private deals between two parties in what is known as an 'Over the Counter' or OTC market. The currencies are traded and quoted in pairs such as Euro/U.S. Dollar or U.S. Dollar/Japanese Yen, where a deal is the combination of selling one currency while buying another currency at the same time.
Traders do not take positions on a currency pair at the exact rate at which the currencies are trading. Instead, there are two rates for the currency pair: the bid rate and the ask rate. The difference between the Bid price and Ask price is the spread.
• The bid rate is the price at which traders can Bid the pair.
• The ask rate is the price at which traders can Ask the pair.
Margin is a performance bond, or good faith deposit, to ensure against trading losses. The margin requirement allows traders to hold a position much larger than their actual account value. In the event that funds in the account fall below margin requirements, some or all open positions will close. This prevents clients' accounts from falling into a negative balance, even in a highly volatile, fast moving market.
From the Finexo Platform, you can buy and sell currencies instantly according to your desire. Our platform allows you to leverage your funds 100:1. Currently, the ForexWebTrader platform allows you to trade more than 45 different Currency pairs.
Leverage allows traders to borrow money and use that money to invest in the foreign exchange market. Because of leverage, clients without a huge amount of capital are able to make large investments, whereas in other markets such as the equities market, clients would have to pay 50% of the full amount for each share of stock they were investing in.
Limit orders are commonly used to enter a market and to take profit at predefined levels. Limit orders to buy are placed below the current market price and are executed when the Ask price hits or breaches the price level specified. (If placed above the current market price, the order is filled instantly at the best available price below or at the limit price.) Limit orders to sell are placed above the current market price and are executed when the Bid price breaches the price level specified.
Finexo, a premier provider of online Forex services, was founded in 2003 by veterans of the banking system, capital markets, derivatives trading, and most importantly, the Forex market. In 2004 Finexo became a White Label of Saxo Bank. Today, Finexo’s management consist of career focused individuals, each with diverse experience in business, finance economics, mathematics, media and management, giving Finexo a combined depth of knowledge and experience.
Finexo believes that the Forex market is not only for experienced traders. Therefore, we have created a simple, user-friendly trading platform that is perfect for those seeking an entry-point into the foreign exchange market without prior knowledge.
This philosophy is expressed in Finexo’s desire to improve the skills of its clients, providing trading recommendations and market updates on a daily basis. Finexo understands how important it is for a trader to be able to access large amounts of information from around the globe as quickly and efficiently as possible. Hence, everything that is traded on Finexo's platform is connected to the largest banks and exchanges in the world which drastically reduces liquidity concerns. Clients follow their portfolio's progress in real-time, 24 hours a day, either via the internet or via Finexo's dealing room, allowing them to maintain complete control over their funds. Finexo is also proud to offer complete money-managed accounts for higher volume clients.
Finexo's clients can deposit funds in to their accounts via credit card, MoneyBookers, e-Bullion, and/or wire transfer, adding tremendously to account flexibility. Regardless of deposit type, security is of the highest priority, and advanced precautionary measures are taken to safeguard the clients' personal information, financial assets, and trading environment.
Finexo continually strives for excellence and originality, putting forth innovative ideas to maintain and enhance its role as a market leader.
• US NOV Factory Orders at -4.6% vs. -2.3% expected
• US DEC ISM Non-Manuf Index at 40.6 vs. 36.5 expected
• NZ Trade Balance (Nov) –NZD520 mln vs revised –NZD996 mln prior
• AUST DEC HIA New Home Sales -1.1% m/m vs 4.5% prior
• AUST NOV Retail sales +0.4% m/m S/ADJ vs -0.3% expected
• AUST NOV Retail Sales +0.1 PCT m/m in trend terms
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