EURO.uz -The Forex quick guide for beginners and private traders

| Forex | Форекс
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The Forex quick guide for beginners and private traders

Depositing funds


New registrants must deposit funds to facilitate trading. However, the
majority of the Forex platforms today require that, in addition to funds used
for actual trading, an additional amount be deposited. Often called
"maintenance margin" or "activity collateral", its purpose is for the platform
to have an additional guarantee. Some of the platforms that require an
additional deposit do pay interest on the collateral, which is "frozen" under
the trader's name.

The Easy-ForexT Trading Platform does NOT require any additional guarantee,
and allows trading with 100% of the amount deposited. Easy-ForexT is able to provide these advantages because it assures "guaranteed rates and Stop- Loss". That means that there will never be any additional requirement for
funds as a result of a "gap" that causes you to surpass the Stop-Loss. See "20
issues you must consider" (Chapter 9) for more.

Trading online


The trading platform operates 24 hours a day just as the global Forex market
runs around the clock.

However, many online Forex market makers require the download and
installation of software specific to their own trading platform. Consequently,
accessibility is limited to those terminals that have the software. Since Forex
trading is borderless, and may be performed at any given time, it is obviously
advantageous to have access to trading from as many locations as possible.

The Easy-ForexT Trading Platform is a fully web-based system, which means
trading can be conducted from any computer connected to the internet.

Traders are only required to log-in, ensure they have available funds to trade,
or make new deposits, and commence trading.

The Trading Platform: real-time software


The main feature of any Forex trading platform is real time access to
exchange rates, to deal and order making, to deposits and withdrawals, and
to monitoring the status of positions and one's account.

The Easy-ForexT Trading Platform system uses web services to continuously
fetch the most current exchange rates. The most recent data displays without
the need for a page refresh. This includes account status screens such as "My
Position", which updates continually to reflect changes in rates and other real
time elements.

Easy-ForexT guarantees the accuracy, security and integrity of all
transactions. Read more here
Transaction processing and storage
As soon as a transaction is executed, the relevant data is processed securely
and sent to the data server where it is stored. A backup is created on a
different server farm, to ensure data integrity and continuity. All of this
happens in real time, with no human intervention.

Trading via brokers and dealing rooms (by phone)


Performing Forex trading via Dealing Room dealers (over the phone) requires
knowledge about the way dealing rooms work, and the terminologies used in
the course of trading.

At start, the client should specify whether he/she is interested in obtaining a
QUOTE (in order to make a deal) or just an INDICATION. In the case of an
indication, the price given does not bind the dealer, but rather provides
information about market conditions.

When asking for QUOTE, the trader must specify the currency pair and the
deal amount (volume). For example: "Need a quote for EUR/USD in
EUR100,000".

It is wise to withhold from the dealer the intended direction of the deal,
specifying the pair only. Accordingly, the dealer then provides a quote
comprising two prices, buy and sell ("both sides quote"). The quote binds the
dealer for the very second it is given. If the trader does not immediately ask
for execution, then the price is no longer in force. The dealer would then tell
the customer "risk", or "change", meaning - the price quoted is no longer in
force. In such case, the trader should ask for a new price.

On the other hand, in order to make a deal, the trader must proclaim "buy"
or "sell", together with the currency (or the price).

An example:

  • The trader asks for a quote for EUR/USD.
  • The dealer says "1.2010/15".
  • If the trader wants to buy EUR, he/she says "buy" (or "buy EURO", or "15".
  • If the trader wants to sell EUR, he/she says "sell" (or "sell EURO", or"10".

The moment the trader says "buy" (or "sell") he/she is bound to the deal,
regardless of the market situation.

Banks are closed at nights, weekends and holidays. Trade, deposit and
withdraw at Easy-ForexT, 24x7


 

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