Basics

New to Forex?

Totally new to Forex? Come and get acquainted

What is Forex?

Trade using the Metaquotes MT4 Platform with no trading restrictions and lightning fast execution. When retail forex trading first became available to individuals there were a handful of brokers operating dealing desks.The situations facing retail traders with spreads and slippage was really bad. Also account protection, broker financial responsibility, net capital,  and having segregated accounts was not in place yet. The current direction of retail forex brokers is a movement away from dealing desks to direct access forex platforms and variable spreads.

Benefits of Forex currency trading

There are a number of benefits and advantages for trading in the Forex markets. Below are a few reasons why many people choose to trade in this market over others.

Bid/Ask and Spread

Whenever you open a ticket on a currency pair, you will notice that there are two prices shown, just like in the picture below:

Introduction to Forex Trading

So you're interested in the exciting world of Forex Trading? The fact that you have found this page and got this far is a great start. You now stand a much better chance of succeeding and profiting in foreign exchange trading than the majority of beginners who jump straight into it, without any idea of whats what. I bet you're wondering, so what exactly is Forex Trading and why is everyone always talking about it? Well simply put, FX trading (or Forex Trading) is the simultaneous buying and selling of a currency pair.

Forex – The Beginning

Today it goes by the name of “Forex”, but people’s need for exchanging currencies manifested soon after money appeared. During the medieval times, the Medici family opened banks at foreign locations for exchanging currencies in order to facilitate textile trading for foreign merchants. This was happening in the 15th century and later, during the 17th and 18th century, Amsterdam operated an active Forex market. In 1880 emerged one of the first banks to conduct a Foreign Exchange business,  Banco Espirito e Comercial de Lisboa.

Glossary

When first starting out in the world of Forex, the jargon and terms seasoned traders use can be very confusing to a newcomer. Here's a list of commonly used words that you will surely come across throughout your time on the foreign exchange market.