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    • CommentAuthordmt1997325
    • CommentTimeJan 12th 2018

    What is Forex trading?

    Forex trading , or FX, are terms to describe the exchange of the world's many currencies. The Forex market is the biggest marketplace in the world. The daily volume of the fx market is more than $5 trillion USD per day. The biggest participant are national banks, commercial banks, hedge funds, brokerages on the market. In the last 10 years the numbers of the retail clients significantly growing, because successful traders can make a lot money with forex trading.

    Forex Trading

    If somebody wants to trade on the interbank forex market, which is an OTC (over the counter) market, then the clients need to open a trading account at a forex broker. The forex broker provide all of tools and technology and settle trades to the market through it's Liquidity network. Trading can be done either over the phone or through electronic networks, but the most popular way is using an online trading platform, where clients can analyze the market movements and based on their expectations and opinions, they can make investment decisions and place trades on the real market. The Forex trading is available 24 hour per day 5 days a week. Sydney, London, Tokyo, New York, and Frankfurt are the main hubs of trading. The market makes the biggest movements when these hub markets overlaps each other. Trader mostly like London and New York session, because this is the most volatile period.

    It is very important to learn Forex trading before you start to trade. - ECN PRIME offer a free forex wiki to learn forex trading basics and trading strategies. - For instance, one should know about basic terms like currency trade. A currency trade is a synchronized purchase of one currency and selling of another. The currency combination used in this exchange is known as a cross (for instance, the euroUS dollar, or the GB poundJapanese yen). The most frequently exchanged currencies are called "majors" and include EURUSD, USDCHF, USDJPY, and GBPUSD.

    The spot market is the most important Forex trading market as it has the biggest volume. The market gets its name because all of the exchanges are settled immediately, or "on the spot," although this is practically accomplished in two working days. Other than these terms, ECN PRIME offers real access to interbank forex market with ultra-fast order execution with very low spreads & commissions via award winning MetaTrader 4, cTrader and Currenex trading platforms. ECN Prime provide real-time market quotes and charts as free of charge. It gives you the possibility to trade on real market with virtual money and you can test your trading strategy and learn trading without any risk.

    When you are ready to start to make money on the real forex market, then opening a real Forex account is very easy. It is done in three simple steps. The first step is to select the account type. You should decide in advance whether you want to open a live account in your name or in your business's name. Also, there is an option between Innovative Liquidity Connector and xLeverage accounts.

    The next step is the online registration. The proof of ID and proof of address documents needs to be submitted to verify an account application. These documents are necessary to complete account application, because ECN Prime needs to follow and comply with the International and Local Know Your Clients and Anti-Money Laundering Rules and Regulations.

    Once the broker receives all the paperwork required, you will receive an email on how to fund your trading account with real money. After this process is completed, you will receive a final email with a username, password to login your trading account. You can now also open a MetaTrader 4 and cTrader demo account with ECN PRIME.