are traded to the tune of four million dollars. The major currencies that are traded here include US Dollars, Japanese Yen, Euro, Australian Dollars and the Swiss franc. Currencies are traded in pairs usually through a broker or dealer who acts as the middle man. Forex trading online is a lucrative field and you can make some easy money here if you know all the rules and regulations.
Forex trading online can be done at any time of the day from anywhere in the world for five days a week. Some of the advantages of this market over stocks and bonds are that it requires only low transaction costs, no commissions or agents, high leverage and liquidity, mini and macro trading for both individuals and financial institutions.
There are many tools that can be put to good use in forex trading online. These include charts, newsletters and data analysis graphs, all of which give you an idea of the market trends. There are also software applications called forex robots which are automated programs that can help you immensely especially if you are a beginner to this field. A robot can help you make the right interpretations from all the real time data available and even trade on your behalf if you cannot find time to spend in front of the computer.
It is possible to start forex trading online with just a few hundred bucks and hence you are not at risk even if the trade fails. But it is always better to familiarize yourself with all the rules of the trading before plunging into this market. There is a lot of money to be made here if you know how to read and interpret all the data and make the right trading move.
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