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Articles

Introduction to the Forex market

The foreign exchange market mainly deals in the trading of global currencies. Depending on currency projections, the currencies that are traded the most are Canadian Dollar, Australian Dollar, U.S. Dollar, Pound Sterling, Swiss Franc, Euro and Yen.

There are other currencies which are also traded but are done in smaller scale. The highest traded currency is U.S. Dollar. There are certain misconceptions regarding Forex market.

Contrary to popular belief there is no central market where all the currencies are traded. The market is a combination of many contrasting markets, each of which has their own set of rules and regulations. As Forex depends on currency projections, it becomes impossible to trade properly due to the difference in time zones. 

That is why the major markets located in Tokyo, London and U.S are opened at different hours. Almost two thirds of the trading that can be followed by currency projections happens during the convergence of New York market opening and European markets are still operating.

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Currency projections help mitigating the risk factor. The currency projections show that an exchange is done between parties. During a set period of time following currency projections, both parties switch one currency. The reverse as currency projections after the period runs out.

The top ten most active traders, who predict the currency projections well, do almost three quarters of total dealing. They are known as the inter-bank market and made up of international banks. Trading activities determined by currency projections done by them supply the market with bid and ask prices.

The prices are really tight for the retailers to cope with. The continuous movements in currency projections keep the Forex market a fast paced international currency exchange that crushes all competition amongst financial markets.

Proper currency projections help financial organizations; prominent banks and International companies guarantee growth and maintain their popularity.

To start trading the Forex market online you will first need to open an account with a broker.

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