Forex Articles
Foreign Exchange Market
Forex Market Snapshot - GoForex
Foreign Exchange Market - Wikipedia
Triennial Central Bank Survey of Foreign Exchange & Derivatives Market Activity 2007 - Bank for International Settlements
Foreign Exchange and Money Market Transactions - UBS
The Foreign Exchange Market in the United States - Federal Reserve Bank of New York
The Foreign Exchange Market - Bank of England
Forex Online Learning Program - NFA
Trading & Education
Essential Elements of a Successful Trader - by Jimmy Young
Understanding Leverage - Part I - by DrForex
Understanding Leverage - Part II - by DrForex
Forex Broker Guide - by GoForex
Market Makers vs ECNs - by Grace Cheng
Introduction to Currency Exchange and the FX Market - by Oanda
Common Sense Guidelines for the Average Trader - by GVI Learning
Trading: A Mind Game - at GVI Learning
Forex Money Management - Investopedia
High Probability Trading - by FibMaster
Taking Profits - by FibMaster
Identifying Trending and Range Bound Currencies - Investopedia
Projected Fibonacci Targets - by Mohab Nabil
The Elliott Wave Principle - by Elliott Wave International
Pivot Point Trading - by Mark McRae
News Trading - by DrForex
Rollovers in Forex - by Mark McRae
Technical Analysis in the Foreign Exchange Market: A Layman's Guide - by St Louis Fed
How to Read a Chart & Act Effectively - by Jimmy Young
FXtrek University - by FXtrek
Economic Calendar Terms Explained - by Finspreads
Economic Indicators - Baby Pips
Make the Currency Cross Your Boss - Investopedia
Goodman's Swing Count System - by M. Duane Archer
Free Forex Ebooks
Introduction to Forex - by Surefire Trading
Inside the Forex Markets - by Pacific Investor Group
Free Fibonacci Lessons - by FibMaster
Tutorials
Support, Resistance, and Trading on Multiple Time Frames - by Daily Forex Charts
Forex Tutorial - by RealTime Forex
How to trade Currencies using Elliott Wave Analysis - Elliott Wave International
10 lessons on The Elliott Wave Principle - Elliott Wave International
Candlesticks Tutorial by TradingDay
Chart Analysis - by StockCharts
School of Pipsology - by BabyPips
Guide to Technical Analysis - by Incredible Charts
Technical Analysis from A to Z - by MarketScreen
Practical Course for Beginners - by Technical Trading
Programming in Algorithmic Language MQL4 - by MetaQuotes
Risk Warnings & Regulation
Forex Information - CFTC
Forex Compliance - NFA
Trading in the Retail Off-Exchange Foreign Currency Market - What Investors Need to Know - NFA
Forex Scams - Wikipedia
Understanding the Risks of Trading in the Retail Off-Exchange Foreign Currency Market - NFA
Related Links
Forex Basics
Further Reading
Baby PipsInvestopediaTrade2WinFXStreetMark's ForexForex MagazinesFuturesMagCurrency Trader Magazine
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Thursday, January 15, 2009
Forex Hedge Funds
Forex Hedge Funds
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
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* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
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sidc = 0;
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var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
}
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
{
if (SIDString.length > 0)
{
return SIDString;
}
sidc = 0;
while (sidc
var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Hedge Funds
Forex Hedge Funds
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
}
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
{
if (SIDString.length > 0)
{
return SIDString;
}
sidc = 0;
while (sidc
var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
window.google_render_ad();
advertisement*
Bookmark this page Email this page
document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
}
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
{
if (SIDString.length > 0)
{
return SIDString;
}
sidc = 0;
while (sidc
var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
window.google_render_ad();
advertisement*
Bookmark this page Email this page
document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Software
Forex Software
Forex Programming
If you need financial programming of any sort for any type of project related to trading, custom trading platforms or integration of custom designed strategies into various brokers trading platforms, submit your project request here. We provide programming for API and FIX protocol in multiple languages as well as MetaTrader Expert Advisor (EA) programming is available. An MT4 to ECN bridge is available for forex brokerage operations, rated by MetaQuotes as one of the best plugins they had seen. PAMM money management software for MT4 is also available. Free Programming Quote
Forex Tester
Forex Tester is professional forex training software, which allows you to practice on historical prices and improve your trading skills to succeed in the forex market. Download a free trial now
Write a Review Read Reviews [1]
Forex Trend System
Forex Trend System is a set of indicators that generates buy and sell signals for any currency pair. Free 14 day trial available. Click here for a free 14 day Trial
Get this system free!
Write a Review Read Reviews [9]
Position Sizing Calculator
Work out how many lots to trade and your risk:reward ratio quickly and easily with this position sizing calculator. Avoid over-leveraging your account and blowing it out with this helpful tool! Comes with a risk-free 8 week money-back guarantee. Read more...
Write a Review
TradeCopy - MetaTrader Account Copier
TradeCopy is account copying software for MetaTrader 4. The account copier allows you to duplicate all trading operations from one (or more) Metatrader 4 platforms to another.
Features Include:
Copy or adjust lot sizes from one account to another
Reverse trades from one account to another
Use an investor login and password to copy trades
For personal use only. Discounts available for multiple license purchases. US$200
Buy Now
If you would like to add your forex software to this page, please get in touch.
window.google_render_ad();
advertisement*
Bookmark this page Email this page
document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Programming
If you need financial programming of any sort for any type of project related to trading, custom trading platforms or integration of custom designed strategies into various brokers trading platforms, submit your project request here. We provide programming for API and FIX protocol in multiple languages as well as MetaTrader Expert Advisor (EA) programming is available. An MT4 to ECN bridge is available for forex brokerage operations, rated by MetaQuotes as one of the best plugins they had seen. PAMM money management software for MT4 is also available. Free Programming Quote
Forex Tester
Forex Tester is professional forex training software, which allows you to practice on historical prices and improve your trading skills to succeed in the forex market. Download a free trial now
Write a Review Read Reviews [1]
Forex Trend System
Forex Trend System is a set of indicators that generates buy and sell signals for any currency pair. Free 14 day trial available. Click here for a free 14 day Trial
Get this system free!
Write a Review Read Reviews [9]
Position Sizing Calculator
Work out how many lots to trade and your risk:reward ratio quickly and easily with this position sizing calculator. Avoid over-leveraging your account and blowing it out with this helpful tool! Comes with a risk-free 8 week money-back guarantee. Read more...
Write a Review
TradeCopy - MetaTrader Account Copier
TradeCopy is account copying software for MetaTrader 4. The account copier allows you to duplicate all trading operations from one (or more) Metatrader 4 platforms to another.
Features Include:
Copy or adjust lot sizes from one account to another
Reverse trades from one account to another
Use an investor login and password to copy trades
For personal use only. Discounts available for multiple license purchases. US$200
Buy Now
If you would like to add your forex software to this page, please get in touch.
window.google_render_ad();
advertisement*
Bookmark this page Email this page
document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Automated Forex Trading Systems
Automated Forex Trading Systems
Sign Up to the Automated Forex Trading Systems & Forex EA Mailing List:
Email:
BJF Trading Group (Itic Software)
BJF Trading Group
BJF Trading Group has developed a range of expert advisors and third-party expert advisors for automated trading via MetaTrader. Discounted rates are available for multiple purchases.
Christmas Special! 25% off all Expert Advisors!
Click here for more...
Host your Expert Advisors on a VPS!
EA programming: Send your programming request to BJF Trading Group
How Do Automated Trading Systems Work?Automated trading systems are pre-programmed strategies that automatically execute trades on your account based on the rules of the strategy. Automated trading systems can run on your home computer, on hosted servers, through autotrading platforms or as managed accounts.
Related Links:
MetaTrader & EA HostingForex ProgrammingAuto Trading PlatformsManaged Forex AccountsManual Forex Systems
If you would like to add your automated forex system to this page, please get in touch.
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advertisement*
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Sign Up to the Automated Forex Trading Systems & Forex EA Mailing List:
Email:
BJF Trading Group (Itic Software)
BJF Trading Group
BJF Trading Group has developed a range of expert advisors and third-party expert advisors for automated trading via MetaTrader. Discounted rates are available for multiple purchases.
Christmas Special! 25% off all Expert Advisors!
Click here for more...
Host your Expert Advisors on a VPS!
EA programming: Send your programming request to BJF Trading Group
How Do Automated Trading Systems Work?Automated trading systems are pre-programmed strategies that automatically execute trades on your account based on the rules of the strategy. Automated trading systems can run on your home computer, on hosted servers, through autotrading platforms or as managed accounts.
Related Links:
MetaTrader & EA HostingForex ProgrammingAuto Trading PlatformsManaged Forex AccountsManual Forex Systems
If you would like to add your automated forex system to this page, please get in touch.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Manual Forex Trading Systems
Manual Forex Trading Systems
Forex Trend System
GoForex has partnered with a full-time trader and system developer to bring you Forex Trend System. I believe it could be one of the simplest and most easy to use forex trend indicator systems available. Free 14 day trial available. Click Here for a Freee 14 Day Trial
Get this system free!
Write a Review Read Reviews [9]
Stealth Forex Trading System
The Stealth Forex Trading System was designed with the goal of making more winning trades by providing you with simple colour coded buy and sell indicators that tell you when to trade with predefined entry/exit rules. The Stealth Forex trading system provides 4 different trading styles, allowing you maximum flexibility about how and when you trade. Comes with a money-back guarantee. Read more...
Write a Review Read Reviews [8]
How Do Manual Trading System's Work?Manual trading systems in this context are indicator based systems that generate buy and sell signals on your home computer according to the pre-defined rules of the strategy. Traders must manually place the trades into their account based on the signals generated by the indicator based manual trading system.
Related Links
Automated Trading SystemsForex Trading Strategies
If you would like to add your manual forex system to this page, please get in touch.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Trend System
GoForex has partnered with a full-time trader and system developer to bring you Forex Trend System. I believe it could be one of the simplest and most easy to use forex trend indicator systems available. Free 14 day trial available. Click Here for a Freee 14 Day Trial
Get this system free!
Write a Review Read Reviews [9]
Stealth Forex Trading System
The Stealth Forex Trading System was designed with the goal of making more winning trades by providing you with simple colour coded buy and sell indicators that tell you when to trade with predefined entry/exit rules. The Stealth Forex trading system provides 4 different trading styles, allowing you maximum flexibility about how and when you trade. Comes with a money-back guarantee. Read more...
Write a Review Read Reviews [8]
How Do Manual Trading System's Work?Manual trading systems in this context are indicator based systems that generate buy and sell signals on your home computer according to the pre-defined rules of the strategy. Traders must manually place the trades into their account based on the signals generated by the indicator based manual trading system.
Related Links
Automated Trading SystemsForex Trading Strategies
If you would like to add your manual forex system to this page, please get in touch.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Ebooks, Systems & Strategies
Forex Ebooks, Systems & Strategies
See also: Manual Trading Systems & Forex Trading Courses
Bird Watching in Lion Country - Retail Forex Trading Explained
When I wrote BWILC I knew it would be great, revolutionary and eye popping. What I didn't expect in my wildest fantasies was that individual readers would compare it favourably with Reminiscences of a Stock Operator and Trading for a Living. Read more
- DrForex (Dirk du Toit)
Write a Review Read Reviews [42]
Black Dog Trading System
Introducing a new forex trading system from seasoned and professional trader, Dave Atkinson. This system uses clearly defined entry and exit rules and comes with full customer support. Get your hands on a copy of Dave Atkinson's, "Black Dog Trading System" receiving rave reviews from customers. Get the Mini-trend Finder - a second system absolutely free with your purchase of the Black Dog Trading System! Read more
Write a Review Read Reviews [7]
Forex Profits
Forex Profits is a simple and straight forward mechanical strategy for trading the forex market using MACD and some clear rules for entering and exiting a trade. Written by Dr. Jeff Wilde, a trader with 15 years experience, Forex Profits could get you up and trading quickly in the forex market. Comes with a 60 day money-back guarantee. Read More
See also Ultimate Forex System by Jeff Wilde.
Write a Review Read Reviews [2]
Ultimate Forex System
From the author of Forex Profits comes another simple strategy to trade the forex market. The Ultimate Forex System comes with a 38 page ebook and 17 videos to help you get up and trading quickly. Comes with an unconditional 60 day money back guarantee. Read More
Write a Review
Forex Trading Strategy
Learn how to trade EUR/USD, USD/CAD, GBP/USD or any other major currency pair by mastering a system that combines top level mathematics with the fundamental principles of human behaviour. Comes with a 60 day money-back guarantee. Read More
Write a Review Read Reviews [3]
The Affluent Desktop Currency Trader
The Affluent Desktop Currency Trader is a step-by-step training manual that includes 9 separate trading strategies you can learn to apply to your everyday forex trading. Comes with a money-back guarantee. Read More
Get Part 1 of "The Affluent Desktop Currency Trader" free!
Write a Review Read Reviews [4]
Related Links:
Manual Trading SystemsForex Trading CoursesForex Trading Signals
If you would like to add your ebook to this page, please get in touch.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
See also: Manual Trading Systems & Forex Trading Courses
Bird Watching in Lion Country - Retail Forex Trading Explained
When I wrote BWILC I knew it would be great, revolutionary and eye popping. What I didn't expect in my wildest fantasies was that individual readers would compare it favourably with Reminiscences of a Stock Operator and Trading for a Living. Read more
- DrForex (Dirk du Toit)
Write a Review Read Reviews [42]
Black Dog Trading System
Introducing a new forex trading system from seasoned and professional trader, Dave Atkinson. This system uses clearly defined entry and exit rules and comes with full customer support. Get your hands on a copy of Dave Atkinson's, "Black Dog Trading System" receiving rave reviews from customers. Get the Mini-trend Finder - a second system absolutely free with your purchase of the Black Dog Trading System! Read more
Write a Review Read Reviews [7]
Forex Profits
Forex Profits is a simple and straight forward mechanical strategy for trading the forex market using MACD and some clear rules for entering and exiting a trade. Written by Dr. Jeff Wilde, a trader with 15 years experience, Forex Profits could get you up and trading quickly in the forex market. Comes with a 60 day money-back guarantee. Read More
See also Ultimate Forex System by Jeff Wilde.
Write a Review Read Reviews [2]
Ultimate Forex System
From the author of Forex Profits comes another simple strategy to trade the forex market. The Ultimate Forex System comes with a 38 page ebook and 17 videos to help you get up and trading quickly. Comes with an unconditional 60 day money back guarantee. Read More
Write a Review
Forex Trading Strategy
Learn how to trade EUR/USD, USD/CAD, GBP/USD or any other major currency pair by mastering a system that combines top level mathematics with the fundamental principles of human behaviour. Comes with a 60 day money-back guarantee. Read More
Write a Review Read Reviews [3]
The Affluent Desktop Currency Trader
The Affluent Desktop Currency Trader is a step-by-step training manual that includes 9 separate trading strategies you can learn to apply to your everyday forex trading. Comes with a money-back guarantee. Read More
Get Part 1 of "The Affluent Desktop Currency Trader" free!
Write a Review Read Reviews [4]
Related Links:
Manual Trading SystemsForex Trading CoursesForex Trading Signals
If you would like to add your ebook to this page, please get in touch.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Hedge Funds
Forex Hedge Funds
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
}
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
{
if (SIDString.length > 0)
{
return SIDString;
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sidc = 0;
while (sidc
var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
.myForm td, input, select, textarea, checkbox {
font-family: tahoma;
font-size: 12px;
}
.myForm {
background-color: #E7EEF7;
border: 1px solid #CCDCF2;
padding: 10px;
}
.required {
color: red;
}
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:country code + area code + number
* Funds Available:
[ Select an option ]$25,000$50,000$100,000$250,000$500,000$1,000,000 +
* Enter the security code shown:
var SIDString = '';
function getRandomLetter() {
return String.fromCharCode(getRandom(65, 90));
}
function getRandom(lowerBound, upperBound) {
return Math.floor((upperBound - lowerBound + 1) * Math.random() + lowerBound);
}
function SetSID()
{
if (SIDString.length > 0)
{
return SIDString;
}
sidc = 0;
while (sidc
var url = "http://www.goforex.net/sendstudio/admin/resources/form_designs/captcha/index.php?c=" + getRandom(1,1000)+ "&ss=" + SetSID();
document.write("");
function CheckMultiple8(frm, name) {
for (var i=0; i
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex AccountsForex Auto Trading Systems
window.google_render_ad();
advertisement*
Bookmark this page Email this page
document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
MetaTrader Hosting
MetaTrader Hosting
See also Expert Advisors & MetaTrader Programmers
Host your MetaTrader EA (Expert Advisor) on a Forex VPS (Virtual Private Server) from only $35 per month!
"What is a Virtual Private Server or VPS?"
A VPS is basically another computer running on a hosted server. You interact with it in the same way you would with a normal Windows®-based desktop on your PC or laptop. The only difference is, you don't need to keep your computer running at home 24/7, and you don't need to rely on your internet or power connection in order for the VPS to keep running. That is taken care of by the VPS host.
All you need to do is open an account, log in to your VPS, and set up your EA like you normally would on your home computer. You can also set up any other trading platform on your VPS. Then, disconnect and go about your normal day, safe in the knowledge that you can turn off your home computer without missing a trade!
Your VPS
This is what you will see when you log in to your VPS:
Click to Enlarge
Advantages
You don't have to leave your computer running 24/7
You don't have to rely on your internet or power connection
You can run as many platforms and EA's as you wish
You can access any trading platform from any computer anywhere in the world
Features
MetaTrader Pre-installed - MetaTrader 4 comes pre-installed on all hosting plans
Compatible With Any Broker - You can download and install any trading platform from any broker to your VPS
Automatic Restart - If the server is rebooted, you can set up your trading platform to automatically restart
24/7 Access - Log in to your VPS at any time
Guarantee - Every plan comes with a 30 Day, money-back guarantee
More Info...
Choose From 3 ForexVPS Hosting Plans
Starter Desktop - Suitable for 3-4 MetaTrader platforms**
Professional Desktop - Suitable for 6-8 MetaTrader platforms**
Ultimate Desktop - Suitable for 12-16 MetaTrader platforms**
**Based on one EA per platform using 128MB RAM. Depending on your EA, you could run more or less instances of the MetaTrader platform than indicated above.
Click Here to Order Now!
Related Links:
Expert Advisors & Automated SystemsMetaTrader Programmers
Windows is a registered trademark of Microsoft Corporation in the United States and other countries.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
See also Expert Advisors & MetaTrader Programmers
Host your MetaTrader EA (Expert Advisor) on a Forex VPS (Virtual Private Server) from only $35 per month!
"What is a Virtual Private Server or VPS?"
A VPS is basically another computer running on a hosted server. You interact with it in the same way you would with a normal Windows®-based desktop on your PC or laptop. The only difference is, you don't need to keep your computer running at home 24/7, and you don't need to rely on your internet or power connection in order for the VPS to keep running. That is taken care of by the VPS host.
All you need to do is open an account, log in to your VPS, and set up your EA like you normally would on your home computer. You can also set up any other trading platform on your VPS. Then, disconnect and go about your normal day, safe in the knowledge that you can turn off your home computer without missing a trade!
Your VPS
This is what you will see when you log in to your VPS:
Click to Enlarge
Advantages
You don't have to leave your computer running 24/7
You don't have to rely on your internet or power connection
You can run as many platforms and EA's as you wish
You can access any trading platform from any computer anywhere in the world
Features
MetaTrader Pre-installed - MetaTrader 4 comes pre-installed on all hosting plans
Compatible With Any Broker - You can download and install any trading platform from any broker to your VPS
Automatic Restart - If the server is rebooted, you can set up your trading platform to automatically restart
24/7 Access - Log in to your VPS at any time
Guarantee - Every plan comes with a 30 Day, money-back guarantee
More Info...
Choose From 3 ForexVPS Hosting Plans
Starter Desktop - Suitable for 3-4 MetaTrader platforms**
Professional Desktop - Suitable for 6-8 MetaTrader platforms**
Ultimate Desktop - Suitable for 12-16 MetaTrader platforms**
**Based on one EA per platform using 128MB RAM. Depending on your EA, you could run more or less instances of the MetaTrader platform than indicated above.
Click Here to Order Now!
Related Links:
Expert Advisors & Automated SystemsMetaTrader Programmers
Windows is a registered trademark of Microsoft Corporation in the United States and other countries.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Sign Up To The Auto Trading Mailing List:
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ZuluTrade
ZuluTrade offers a range of third-party signal providers executed automatically on your account for free**. All systems have verified track records. You choose the systems you want to trade and let ZuluTrade do the rest!
Click here for a free demo account
Write a Review Read Reviews [1]
FX-Auto
FX-Auto provides signals from over 50 third-party automated and manual systems, executed into your account automatically, each with their own verified track record. You choose the systems you want to trade, the currency pairs, and your money management, and let FX-Auto trade your account automatically.
Click here for a free 30 day demo account
Write a Review
How Does Auto Trading Work?Auto Trading is a term given to the automatic execution of signals sent to client accounts by way of a central auto-trading platform. Clients choose the providers they want to receive signals from, and the trades are automatically executed on their account.
** AutoTrading providers and the FCM are compensated for the difference between the bid and ask spread.
Related Links:
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document.write ("Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.");
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Market Snapshot
Forex Market Snapshot
Introduction
The following facts and figures relate to the foreign exchange market. Much of the information is drawn from the 2007 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity conducted by the Bank for International Settlements (BIS) in April 2007. 54 central banks and monetary authorities participated in the survey, collecting information from approximately 1280 market participants.
Excerpt from the BIS:
"The 2007 survey shows an unprecedented rise in activity in traditional foreign exchange markets compared to 2004. Average daily turnover rose to $3.2 trillion in April 2007, an increase of 71% at current exchange rates and 65% at constant exchange rates...Against the background of low levels of financial market volatility and risk aversion, market participants point to a significant expansion in the activity of investor groups including hedge funds, which was partly facilitated by substantial growth in the use of prime brokerage, and retail investors...A marked increase in the levels of technical trading – most notably algorithmic trading – is also likely to have boosted turnover in the spot market...Transactions between reporting dealers and non-reporting financial institutions, such as hedge funds, mutual funds, pension funds and insurance companies, more than doubled between April 2004 and April 2007 and contributed more than half of the increase in aggregate turnover." - BIS
Structure
Decentralised 'interbank' market
Main participants: Central Banks, commercial and investment banks, hedge funds, corporations & private speculators
The free-floating currency system arose from the collapse of the Bretton Woods agreement in 1971
Online trading began in the mid to late 1990's
Source: BIS Triennial Survey 2007
Trading Hours
24 hour market
Sunday 5pm EST through Friday 4pm EST.
Trading begins in the Asia-Pacific region followed by the Middle East, Europe, and America
Size
One of the largest financial markets in the world
$3.2 trillion average daily turnover, equivalent to:
More than 10 times the average daily turnover of global equity markets1
More than 35 times the average daily turnover of the NYSE2
Nearly $500 a day for every man, woman, and child on earth3
An annual turnover more than 10 times world GDP4
The spot market accounts for just under one-third of daily turnover
1. About $280 billion - World Federation of Exchanges aggregate 2006 2. About $87 billion - World Federation of Exchanges 2006 3. Based on world population of 6.6 billion - US Census Bureau 4. About $48 trillion - World Bank 2006.
Source: BIS Triennial Survey 2007
Major Markets
The US & UK markets account for just over 50% of turnover
Major markets: London, New York, Tokyo
Trading activity is heaviest when major markets overlap5
Nearly two-thirds of NY activity occurs in the morning hours while European markets are open6
5. The Foreign Exchange Market in the United States - NY Federal Reserve6. The Foreign Exchange Market in the United States - NY Federal Reserve
Average Daily Turnover by Geographic Location
Source: BIS Triennial Survey 2007
Concentration in the Banking Industry
12 banks account for 75% of turnover in the U.K.
10 banks account for 75% of turnover in the U.S.
3 banks account for 75% of turnover in Switzerland
9 banks account for 75% of turnover in Japan
Source: BIS Triennial Survey 2007
Technical AnalysisCommonly used technical indicators:
Moving averages
RSI
Fibonacci retracements
Stochastics
MACD
Momentum
Bollinger bands
Pivot point
Elliott Wave
Currencies
The US dollar is involved in over 80% of all foreign exchange transactions, equivalent to over US$2.7 trillion per day
Currency Codes
USD = US Dollar
EUR = Euro
JPY = Japanese Yen
GBP = British Pound
CHF = Swiss Franc
CAD = Canadian Dollar (Sometimes referred to as the "Loonie")
AUD = Australian Dollar
NZD = New Zealand Dollar
Average Daily Turnover by Currency
N.B. Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%.
Source: BIS Triennial Survey 2007
Currency Pairs
Majors: EUR/USD (Euro-Dollar), USD/JPY, GBP/USD - (commonly referred to as the "Cable"), USD/CHF
Dollar bloc: USD/CAD, AUD/USD, NZD/USD - (commonly referred to as the "Kiwi")
Major crosses: EUR/JPY, EUR/GBP, EUR/CHF
Average Daily Turnover by Currency Pair
Source: BIS Triennial Survey 2007
Related Links
Foreign exchange marketForex Articles
Introduction
The following facts and figures relate to the foreign exchange market. Much of the information is drawn from the 2007 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity conducted by the Bank for International Settlements (BIS) in April 2007. 54 central banks and monetary authorities participated in the survey, collecting information from approximately 1280 market participants.
Excerpt from the BIS:
"The 2007 survey shows an unprecedented rise in activity in traditional foreign exchange markets compared to 2004. Average daily turnover rose to $3.2 trillion in April 2007, an increase of 71% at current exchange rates and 65% at constant exchange rates...Against the background of low levels of financial market volatility and risk aversion, market participants point to a significant expansion in the activity of investor groups including hedge funds, which was partly facilitated by substantial growth in the use of prime brokerage, and retail investors...A marked increase in the levels of technical trading – most notably algorithmic trading – is also likely to have boosted turnover in the spot market...Transactions between reporting dealers and non-reporting financial institutions, such as hedge funds, mutual funds, pension funds and insurance companies, more than doubled between April 2004 and April 2007 and contributed more than half of the increase in aggregate turnover." - BIS
Structure
Decentralised 'interbank' market
Main participants: Central Banks, commercial and investment banks, hedge funds, corporations & private speculators
The free-floating currency system arose from the collapse of the Bretton Woods agreement in 1971
Online trading began in the mid to late 1990's
Source: BIS Triennial Survey 2007
Trading Hours
24 hour market
Sunday 5pm EST through Friday 4pm EST.
Trading begins in the Asia-Pacific region followed by the Middle East, Europe, and America
Size
One of the largest financial markets in the world
$3.2 trillion average daily turnover, equivalent to:
More than 10 times the average daily turnover of global equity markets1
More than 35 times the average daily turnover of the NYSE2
Nearly $500 a day for every man, woman, and child on earth3
An annual turnover more than 10 times world GDP4
The spot market accounts for just under one-third of daily turnover
1. About $280 billion - World Federation of Exchanges aggregate 2006 2. About $87 billion - World Federation of Exchanges 2006 3. Based on world population of 6.6 billion - US Census Bureau 4. About $48 trillion - World Bank 2006.
Source: BIS Triennial Survey 2007
Major Markets
The US & UK markets account for just over 50% of turnover
Major markets: London, New York, Tokyo
Trading activity is heaviest when major markets overlap5
Nearly two-thirds of NY activity occurs in the morning hours while European markets are open6
5. The Foreign Exchange Market in the United States - NY Federal Reserve6. The Foreign Exchange Market in the United States - NY Federal Reserve
Average Daily Turnover by Geographic Location
Source: BIS Triennial Survey 2007
Concentration in the Banking Industry
12 banks account for 75% of turnover in the U.K.
10 banks account for 75% of turnover in the U.S.
3 banks account for 75% of turnover in Switzerland
9 banks account for 75% of turnover in Japan
Source: BIS Triennial Survey 2007
Technical AnalysisCommonly used technical indicators:
Moving averages
RSI
Fibonacci retracements
Stochastics
MACD
Momentum
Bollinger bands
Pivot point
Elliott Wave
Currencies
The US dollar is involved in over 80% of all foreign exchange transactions, equivalent to over US$2.7 trillion per day
Currency Codes
USD = US Dollar
EUR = Euro
JPY = Japanese Yen
GBP = British Pound
CHF = Swiss Franc
CAD = Canadian Dollar (Sometimes referred to as the "Loonie")
AUD = Australian Dollar
NZD = New Zealand Dollar
Average Daily Turnover by Currency
N.B. Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%.
Source: BIS Triennial Survey 2007
Currency Pairs
Majors: EUR/USD (Euro-Dollar), USD/JPY, GBP/USD - (commonly referred to as the "Cable"), USD/CHF
Dollar bloc: USD/CAD, AUD/USD, NZD/USD - (commonly referred to as the "Kiwi")
Major crosses: EUR/JPY, EUR/GBP, EUR/CHF
Average Daily Turnover by Currency Pair
Source: BIS Triennial Survey 2007
Related Links
Foreign exchange marketForex Articles
Foreign Exchange Market
Foreign Exchange MarketFrom Wikipedia
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.
Contents
Market size and liquidity
Trading characteristics
Market participants
Banks
Commercial Companies
Central Banks
Investment Management Firms
Hedge Funds
Retail Forex Brokers
Speculation
Reference
See also
External links
Market size and liquidity
The foreign exchange market is unique because of:
its trading volume,
the extreme liquidity of the market,
the large number of, and variety of, traders in the market,
its geographical dispersion,
its long trading hours - 24 hours a day (except on weekends).
the variety of factors that affect exchange rates,
Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study Triennial Central Bank Survey 2004
$600 billion spot
$1,300 billion in derivatives, ie
$200 billion in outright forwards
$1,000 billion in forex swaps
$100 billion in FX options.
Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, but only accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 Currency Traders
% of overall volume, May 2005
Rank
Name
% of volume
1
Deutsche Bank
17.0
2
UBS
12.5
3
Citigroup
7.5
4
HSBC
6.4
5
Barclays
5.9
6
Merrill Lynch
5.7
7
J.P. Morgan Chase
5.3
8
Goldman Sachs
4.4
9
ABN AMRO
4.2
10
Morgan Stanley
3.9
The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually only 1-3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203. Minimum trading size for most deals is usually $1,000,000.
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' cheques. Spot prices at market makers vary, but on EUR/USD are usually no more than 5 pips wide (i.e. 0.0005). Competition has greatly increased with pip spreads shrinking on the majors to as little as 1 to 1.5 pips.
Trading characteristics
There is no single unified foreign exchange market. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is no such thing as a single dollar rate - but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs.
Top 6 Most Traded Currencies
Rank
Currency
ISO 4217 Code
Symbol
1
United States dollar
USD
$
2
Eurozone euro
EUR
€
3
Japanese yen
JPY
¥
4
British pound sterling
GBP
£
5-6
Swiss franc
CHF
-
5-6
Australian dollar
AUD
$
The main trading centers are in London, New York, and Tokyo, but banks throughout the world participate. As the Asian trading session ends, the European session begins, then the US session, and then the Asian begin in their turns. Traders can react to news when it breaks, rather than waiting for the market to open.
There is little or no 'inside information' in the foreign exchange markets. Exchange rate fluctuations are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in GDP growth, inflation, interest rates, budget and trade deficits or surpluses, and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers order flow. Trading legend Richard Dennis has accused central bankers of leaking information to hedge funds. [1]
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.
On the spot market, according to the BIS study, the most heavily traded products were:
EUR/USD - 28 %
USD/JPY - 17 %
GBP/USD (also called cable) - 14 %
and the US currency was involved in 89% of transactions, followed by the euro (37%), the yen (20%) and sterling (17%). (Note that volume percentages should add up to 200% - 100% for all the sellers, and 100% for all the buyers). Although trading in the euro has grown considerably since the currency's creation in January 1999, the foreign exchange market is thus still largely dollar-centered. For instance, trading the euro versus a non-European currency ZZZ will usually involve two trades: EUR/USD and USD/ZZZ. The only exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market.
Market participants
According to the BIS study Triennial Central Bank Survey 2004
53% of transactions were strictly interdealer (ie interbank);
33% involved a dealer (ie a bank) and a fund manager or some other non-bank financial institution;
and only 14% were between a dealer and a non-financial company.
Banks
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems, such as EBS, Reuters Dealing 3000 Matching (D2), the Chicago Mercantile Exchange, Bloomberg and TradeBook(R). The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
Commercial Companies
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.
Central Banks
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves, to stabilize the market. Milton Friedman argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high - that is, to trade for a profit. Nevertheless, central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives, however. The combined resources of the market can easily overwhelm any central bank. Several scenarios of this nature were seen in the 1992-93 ERM collapse, and in more recent times in South East Asia.
Investment Management Firms
Investment Management firms (who typically manage large accounts on behalf of customers such as pension funds, endowments etc.) use the Foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager with an international equity portfolio will need to buy and sell foreign currencies in the spot market in order to pay for purchases of foreign equities. Since the forex transactions are secondary to the actual investment decision, they are not seen as speculative or aimed at profit-maximisation.
Some investment management firms also have more speculative specialist currency overlay units, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. The number of this type of specialist is quite small, their large assets under management (AUM) can lead to large trades.
Hedge Funds
Hedge funds, such as George Soros's Quantum fund have gained a reputation for aggressive currency speculation since 1990. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Retail Forex Brokers
Retail forex brokers or market makers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at $25-50 billion daily, [2]which is about 2% of the whole market. CNN also quotes an official of the National Futures Association "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically."
All firms offering foreign exchange trading online are either market makers or facilitate the placing of trades with market makers.
In the retail forex industry market makers often have two separate trading desks- one that actually trades foreign exchange (which determines the firm's own net position in the market, serving as both a proprietary trading desk and a means of offsetting client trades on the interbank market) and one used for off-exchange trading with retail customers (called the "dealing desk" or "trading desk").
Many retail FX market makers claim to "offset" clients' trades on the interbank market (that is, with other larger market makers), e.g. after buying from the client, they sell to a bank. Nevertheless, the large majority of retail currency speculators are novices and who lose money [3], so that the market makers would be giving up large profits by offsetting. Offsetting does occur, but only when the market maker judges its clients' net position as being very risky.
The dealing desk operates much like the currency exchange counter at a bank. Interbank exchange rates, which are displayed at the dealing desk, are adjusted to incorporate spreads (so that the market maker will make a profit) before they are displayed to retail customers. Prices shown by the market maker do not neccesarily reflect interbank market rates. Arbitrage opportunities may exist, but retail market makers are efficient at removing arbitrageurs from their systems or limiting their trades.
A limited number of retail forex brokers offer consumers direct access to the interbank forex market. But most do not because of the limited number of clearing banks willing to process small orders. More importantly, the dealing desk model can be far more profitable, as a large portion of retail traders' losses are directly turned into market maker profits. While the income of a marketmaker that offsets trades or a broker that facilitates transactions is limited to transaction fees (commissions), dealing desk brokers can generate income in a variety of ways because they not only control the trading process, they also control pricing which they can skew at any time to maximize profits.
The rules of the game in trading FX are highly disadvantageous for retail speculators. Most retail speculators in FX lack trading experience and and capital (account minimums at some firms are as low as 250-500 USD). Large minimum position sizes, which on most retail platforms ranges from $10,000 to $100,000, force small traders to take imprudently large positions using extremely high leverage. Professional forex traders rarely use more than 10:1 leverage, yet many retail Forex firms default client accounts to 100:1 or even 200:1, without disclosing that this is highly unusual for currency traders. This drastically increases the risk of a margin call (which, if the speculator's trade is not offset, is pure profit for the market maker).
According to the Wall Street Journal (Currency Markets Draw Speculation, Fraud July 26, 2005) "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of FXCM, 'I'd be surprised.' " [4]
In the US, "it is unlawful to offer foreign currency futures and option contracts to retail customers unless the offeror is a regulated financial entity" according to the Commodity Futures Trading Commission [5]. Legitimate retail brokers serving traders in the U.S. are most often registered with the CFTC as "futures commission merchants" (FCMs) and are members of the National Futures Association (NFA). Potential clients can check the broker's FCM status at the NFA. Retail forex brokers are much less regulated than stock brokers and there is no protection similar to that from the Securities Investor Protection Corporation. The CFTC has noted an increase in forex scams [6].
Speculation
Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly. Nevertheless, many economists (e.g. Milton Friedman) argue that speculators perform the important function of providing a market for hedgers and transferring risk from those people who don't wish to bear it, to those who do. Other economists (e.g. Joseph Stiglitz) however, may consider this argument to be based more on politics and a free market philosophy than on economics.
Large hedge funds and other well capitalized "position traders" are the main professional speculators.
Currency speculation is considered a highly suspect activity in many countries. While investment in traditional financial instruments like bonds or stocks often is considered to contribute positively to economic growth by providing capital, currency speculation does not, according to this view. It is simply gambling, that often interferes with economic policy. For example, in 1992, currency speculation forced the Central Bank of Sweden to raise interest rates for a few days to 150% per annum, and later to devalue the krona. Former Malaysian Prime Minister Mahathir Mohamad is one well known proponent of this view [7]. He blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators.
Gregory Millman reports on an opposing view, comparing speculators to "vigilantes" who simply help "enforce" international agreements and anticipate the effects of basic economic "laws" in order to profit.
In this view, countries may develop unsustainable financial bubbles or otherwise mishandle their national economies, and forex speculators only made the inevitable collapse happen sooner. A relatively quick collapse might even be preferable to continued economic mishandling. Mahathir Mohamad and other critics of speculation are viewed as trying to deflect the blame from themselves for having caused the unsustainable economic conditions.
Reference
Gregory J. Millman, Around the World on a Trillion Dollars a Day, Bantam Press, New York, 1995.
See also
Exchange rate
Forex scams
Foreign exchange option
Bretton Woods system
Balance of trade
Balance of Payments
Base currency
External links
BBC cross rates
Bloomberg
CFTC fraud warning
"Currency Markets Draw Speculation, Fraud", from The Wall Street Journal, July 26, 2005
Federal Reserve daily update
Federal Reserve daily history since 2000
Federal Reserve educational material
Foreign Exchange related material from the Federal Reserve
Foreign Currency Units per 1 U.S. Dollar, 1948 - 2004
Financial Times
From Wikipedia: Foreign Exchange Market
Article History
4 July, 2006
All text is available under the terms of the GNU Free Documentation License (see Copyrights for details). Disclaimers.
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The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.
Contents
Market size and liquidity
Trading characteristics
Market participants
Banks
Commercial Companies
Central Banks
Investment Management Firms
Hedge Funds
Retail Forex Brokers
Speculation
Reference
See also
External links
Market size and liquidity
The foreign exchange market is unique because of:
its trading volume,
the extreme liquidity of the market,
the large number of, and variety of, traders in the market,
its geographical dispersion,
its long trading hours - 24 hours a day (except on weekends).
the variety of factors that affect exchange rates,
Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study Triennial Central Bank Survey 2004
$600 billion spot
$1,300 billion in derivatives, ie
$200 billion in outright forwards
$1,000 billion in forex swaps
$100 billion in FX options.
Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, but only accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 Currency Traders
% of overall volume, May 2005
Rank
Name
% of volume
1
Deutsche Bank
17.0
2
UBS
12.5
3
Citigroup
7.5
4
HSBC
6.4
5
Barclays
5.9
6
Merrill Lynch
5.7
7
J.P. Morgan Chase
5.3
8
Goldman Sachs
4.4
9
ABN AMRO
4.2
10
Morgan Stanley
3.9
The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually only 1-3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203. Minimum trading size for most deals is usually $1,000,000.
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' cheques. Spot prices at market makers vary, but on EUR/USD are usually no more than 5 pips wide (i.e. 0.0005). Competition has greatly increased with pip spreads shrinking on the majors to as little as 1 to 1.5 pips.
Trading characteristics
There is no single unified foreign exchange market. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is no such thing as a single dollar rate - but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs.
Top 6 Most Traded Currencies
Rank
Currency
ISO 4217 Code
Symbol
1
United States dollar
USD
$
2
Eurozone euro
EUR
€
3
Japanese yen
JPY
¥
4
British pound sterling
GBP
£
5-6
Swiss franc
CHF
-
5-6
Australian dollar
AUD
$
The main trading centers are in London, New York, and Tokyo, but banks throughout the world participate. As the Asian trading session ends, the European session begins, then the US session, and then the Asian begin in their turns. Traders can react to news when it breaks, rather than waiting for the market to open.
There is little or no 'inside information' in the foreign exchange markets. Exchange rate fluctuations are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in GDP growth, inflation, interest rates, budget and trade deficits or surpluses, and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers order flow. Trading legend Richard Dennis has accused central bankers of leaking information to hedge funds. [1]
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.
On the spot market, according to the BIS study, the most heavily traded products were:
EUR/USD - 28 %
USD/JPY - 17 %
GBP/USD (also called cable) - 14 %
and the US currency was involved in 89% of transactions, followed by the euro (37%), the yen (20%) and sterling (17%). (Note that volume percentages should add up to 200% - 100% for all the sellers, and 100% for all the buyers). Although trading in the euro has grown considerably since the currency's creation in January 1999, the foreign exchange market is thus still largely dollar-centered. For instance, trading the euro versus a non-European currency ZZZ will usually involve two trades: EUR/USD and USD/ZZZ. The only exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market.
Market participants
According to the BIS study Triennial Central Bank Survey 2004
53% of transactions were strictly interdealer (ie interbank);
33% involved a dealer (ie a bank) and a fund manager or some other non-bank financial institution;
and only 14% were between a dealer and a non-financial company.
Banks
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems, such as EBS, Reuters Dealing 3000 Matching (D2), the Chicago Mercantile Exchange, Bloomberg and TradeBook(R). The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
Commercial Companies
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.
Central Banks
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves, to stabilize the market. Milton Friedman argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high - that is, to trade for a profit. Nevertheless, central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives, however. The combined resources of the market can easily overwhelm any central bank. Several scenarios of this nature were seen in the 1992-93 ERM collapse, and in more recent times in South East Asia.
Investment Management Firms
Investment Management firms (who typically manage large accounts on behalf of customers such as pension funds, endowments etc.) use the Foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager with an international equity portfolio will need to buy and sell foreign currencies in the spot market in order to pay for purchases of foreign equities. Since the forex transactions are secondary to the actual investment decision, they are not seen as speculative or aimed at profit-maximisation.
Some investment management firms also have more speculative specialist currency overlay units, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. The number of this type of specialist is quite small, their large assets under management (AUM) can lead to large trades.
Hedge Funds
Hedge funds, such as George Soros's Quantum fund have gained a reputation for aggressive currency speculation since 1990. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Retail Forex Brokers
Retail forex brokers or market makers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at $25-50 billion daily, [2]which is about 2% of the whole market. CNN also quotes an official of the National Futures Association "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically."
All firms offering foreign exchange trading online are either market makers or facilitate the placing of trades with market makers.
In the retail forex industry market makers often have two separate trading desks- one that actually trades foreign exchange (which determines the firm's own net position in the market, serving as both a proprietary trading desk and a means of offsetting client trades on the interbank market) and one used for off-exchange trading with retail customers (called the "dealing desk" or "trading desk").
Many retail FX market makers claim to "offset" clients' trades on the interbank market (that is, with other larger market makers), e.g. after buying from the client, they sell to a bank. Nevertheless, the large majority of retail currency speculators are novices and who lose money [3], so that the market makers would be giving up large profits by offsetting. Offsetting does occur, but only when the market maker judges its clients' net position as being very risky.
The dealing desk operates much like the currency exchange counter at a bank. Interbank exchange rates, which are displayed at the dealing desk, are adjusted to incorporate spreads (so that the market maker will make a profit) before they are displayed to retail customers. Prices shown by the market maker do not neccesarily reflect interbank market rates. Arbitrage opportunities may exist, but retail market makers are efficient at removing arbitrageurs from their systems or limiting their trades.
A limited number of retail forex brokers offer consumers direct access to the interbank forex market. But most do not because of the limited number of clearing banks willing to process small orders. More importantly, the dealing desk model can be far more profitable, as a large portion of retail traders' losses are directly turned into market maker profits. While the income of a marketmaker that offsets trades or a broker that facilitates transactions is limited to transaction fees (commissions), dealing desk brokers can generate income in a variety of ways because they not only control the trading process, they also control pricing which they can skew at any time to maximize profits.
The rules of the game in trading FX are highly disadvantageous for retail speculators. Most retail speculators in FX lack trading experience and and capital (account minimums at some firms are as low as 250-500 USD). Large minimum position sizes, which on most retail platforms ranges from $10,000 to $100,000, force small traders to take imprudently large positions using extremely high leverage. Professional forex traders rarely use more than 10:1 leverage, yet many retail Forex firms default client accounts to 100:1 or even 200:1, without disclosing that this is highly unusual for currency traders. This drastically increases the risk of a margin call (which, if the speculator's trade is not offset, is pure profit for the market maker).
According to the Wall Street Journal (Currency Markets Draw Speculation, Fraud July 26, 2005) "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of FXCM, 'I'd be surprised.' " [4]
In the US, "it is unlawful to offer foreign currency futures and option contracts to retail customers unless the offeror is a regulated financial entity" according to the Commodity Futures Trading Commission [5]. Legitimate retail brokers serving traders in the U.S. are most often registered with the CFTC as "futures commission merchants" (FCMs) and are members of the National Futures Association (NFA). Potential clients can check the broker's FCM status at the NFA. Retail forex brokers are much less regulated than stock brokers and there is no protection similar to that from the Securities Investor Protection Corporation. The CFTC has noted an increase in forex scams [6].
Speculation
Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly. Nevertheless, many economists (e.g. Milton Friedman) argue that speculators perform the important function of providing a market for hedgers and transferring risk from those people who don't wish to bear it, to those who do. Other economists (e.g. Joseph Stiglitz) however, may consider this argument to be based more on politics and a free market philosophy than on economics.
Large hedge funds and other well capitalized "position traders" are the main professional speculators.
Currency speculation is considered a highly suspect activity in many countries. While investment in traditional financial instruments like bonds or stocks often is considered to contribute positively to economic growth by providing capital, currency speculation does not, according to this view. It is simply gambling, that often interferes with economic policy. For example, in 1992, currency speculation forced the Central Bank of Sweden to raise interest rates for a few days to 150% per annum, and later to devalue the krona. Former Malaysian Prime Minister Mahathir Mohamad is one well known proponent of this view [7]. He blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators.
Gregory Millman reports on an opposing view, comparing speculators to "vigilantes" who simply help "enforce" international agreements and anticipate the effects of basic economic "laws" in order to profit.
In this view, countries may develop unsustainable financial bubbles or otherwise mishandle their national economies, and forex speculators only made the inevitable collapse happen sooner. A relatively quick collapse might even be preferable to continued economic mishandling. Mahathir Mohamad and other critics of speculation are viewed as trying to deflect the blame from themselves for having caused the unsustainable economic conditions.
Reference
Gregory J. Millman, Around the World on a Trillion Dollars a Day, Bantam Press, New York, 1995.
See also
Exchange rate
Forex scams
Foreign exchange option
Bretton Woods system
Balance of trade
Balance of Payments
Base currency
External links
BBC cross rates
Bloomberg
CFTC fraud warning
"Currency Markets Draw Speculation, Fraud", from The Wall Street Journal, July 26, 2005
Federal Reserve daily update
Federal Reserve daily history since 2000
Federal Reserve educational material
Foreign Exchange related material from the Federal Reserve
Foreign Currency Units per 1 U.S. Dollar, 1948 - 2004
Financial Times
From Wikipedia: Foreign Exchange Market
Article History
4 July, 2006
All text is available under the terms of the GNU Free Documentation License (see Copyrights for details). Disclaimers.
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