RedeemFX Education Kit is an integration of all the trading strategies. Forex Trading is Over-the-Count(OTC), Foreign Exchange Market that incorporates foreign exchange. Currencies are always conducted in pairs for instance EUR/USD, USD/JPY, AUD/USD.
The forex market attracts many beginners and experienced traders, which has high liquidity larger than any other markets. A trader who speculates the market will rise is called a ‘Bullish Trader’, while on the other side its ‘Bearish Trader’, who is more on the defensive side.
The forex market open's 24 hours in 5 days a week, one can buy almost any currency he wants in high volumes while the market is open. The forex market during the summer starts at 9:00pm GMT on Sunday, and ends at 9:00pm GMT on Friday. In the winter it’s 10:00pm-10:00pm accordingly.
The forex market comprises high liquidity, due to an elevated supply and demand rate. When a currency will be on high demand, its value will rise comparing to the other currencies, and vice versa.
Below we provide you with the factors affecting forex trade, that will help those who are new to forex.
Currencies are divided into two parts– Major and minor. The major currencies are derived from the most powerful economies, together with the other currencies they create forex pairs. The major pairs are the largely traded ones and always involve the USD. The seven major pairs are EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, AUD/USD and NZD/USD. In the minor pairs the major currencies are traded between each other, excluding the USD. The exotic pairs have one major currency and one minor, such as EUR/TRY, USD/NOK and many more. Exotic currencies establishes the forex pairs as well stated pairs recommended.
Any change in the currency value will usually be seen on the fourth figure after the dot, mainly known as a pip. The spreads, gains and losses will usually be presented in pips.
Make sure to follow all relevant details so that you can precede the changes in the market and gain profit with RedeemFX.