MoneyXE General

• 1. What is Currency Trading?

Currency trading is the buying and selling of a country's currency in order to purchase currency belonging to another.
This is referred to, by professionals, as foreign exchange, or Forex and FX.

• 2. What is Currency Exchange Rate?

The currency exchange rate will ascertain the amount you gain in the quote currency when selling one unit of the base currency.
The base and quote currency are stated in pairs, whilst being abbreviated by ISO code e.g. EUR/USD (the Euro and the US Dollar).
The base currency comes first followed by the quote currency.
In this case the EUR/USD exchange rate indicates the number of US Dollars you have to pay to buy one Euro.
Conversely, it is how many US Dollars you obtain when you sell one Euro.

•  3. What is a "mid-market" currency rates?

This implies the rates that are calculated as the average between buy and sell rates. This method is most precise since the buy and sell rates differentiate between banks, however the medium value is remains constant. This is the middle rate between buy/sell quotes in foreign exchange.
For example, if the NZD/USD quote was 0.6010/0.6020, the mid-rate would be 0.6015.

• 4. Why Trade Currencies?

The world's largest market is Forex, with figures showing daily trading volumes in excess of 3 trillion dollars. It is named as the most efficient and liquid financial market in the world.
Of all the equity markets, the transaction volume is 50 times greater.

* Forex trading has already been opened to individuals.
* It gives investors the opportunity to be flexible.
* It is organized as an over-the-counter market.
* Trading takes place via advanced telecommunication networks such as the internet.
* Trading is open 24 hours a day, five days a week around the world.
* Currencies can still be bought or sold, indifferent of a country's overall economy

• 5. How can I tell if Currency Trading is for me?

Why Currency Trading Is Not For Everyone

Due to a high risk factor trading foreign exchange may not be suitable for all customers.
Forex can be unforseeable and a real challenge as a result of Global economies constantly changing.  

Before making an investment in forex, advance your financial knowledge through research. Also become aquainted with the terms and concepts involved in Forex trading.
Be sure to make informed decisions before implementing trades to achieve desired returns.  
 
Remember, you could encounter a loss in your investment. Therefore you should use risk capital or funds you can afford to lose.
If in doubt, it is recommended to consult an independent financial advisor.

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