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Saturday, August 19, 2006

What is FOREX?

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Over the last three decades the foreign exchange market has become the world's largest financial market, with over $1.5 trillion USD traded daily. Forex is part of the bank-to-bank currency market known as the 24-hour Interbank market. The Interbank market literally follows the sun around the world, moving from major banking centers of the United States to Australia, New Zealand to the Far East, to Europe then back to the United States.
Forex Market Summary of Benefits
– Forex is open 24 hours a day.
– Forex is the most liquid market in the world.
– 100-to-1 leverage reduces the need for large
amounts of capital.
– Commission-free* trading on more than 60
– No restrictions on shorting which allows you to
enjoy profit opportunities during any market

Until recently, the forex market wasn't for the average trader or individual speculator. With the large minimum transaction sizes and often-stringent financial requirements, banks, hedge funds, major currency dealers and the occasional high net-worth individual speculator were the principal participants. These large traders were able to take advantage of the many benefits offered by the forex market vs. other markets, including fantastic liquidity and the strong trending nature of the world's primary currency exchange rates.

* GFT is compensated by revenues from its activities as a currency dealer, including proceeds from buying, selling, converting as well as holding currencies and interest on deposited funds and rollover fees.
GFT Gives You the Access and Resources to Trade Forex

As a primary market-maker in foreign currency trading, Global Forex Trading is able to offer smaller transactional sizes and allow traders of almost any size, including individual speculators or smaller companies, the opportunity to trade the same rates and price movements as the large players who once dominated the forex market.

The forex market removes the traditional barriers that exist in other markets without restricting the forex traders' ability to make a trade at the right times.

Some examples include:
Other Markets

Forex Markets
Limited floor trading hours dictated by the time zone of the trading location, significantly restricting the number of hours a market is open and when it can be accessed. The Forex market is open 24 hours a day, 5.5 days a week. Because of the decentralized clearing of trades and overlap of major markets in Asia, London and the United States, the market remains open and liquid throughout the day and overnight.
Threat of liquidity drying up after market hours or because many market participants decide to stay on the sidelines or move to more popular markets.
Most liquid market in the world eclipsing all others in comparison. Most transactions must continue, since currency exchange is a required mechanism needed to facilitate world commerce.
Traders are gouged with fees, such as commissions, clearing fees, exchange fees and government fees.
Large capital requirements, high margin rates, restrictions on shorting, very little autonomy. One consistent margin rate 24 hours a day allows Forex traders to leverage their capital more efficiently with as high as 100-to-1 leverage.
Short selling and stop order restrictions.
Pattern daytraders subject to restrictions requiring account balances in excess of $50,000. No restrictions. Very low account balances.