If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills.
No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.
Forex dates back to ancient times, when traders first began exchanging coins from different countries and groups. However, the foreign exchange industry itself is the newest of the financial markets.In the last hundred years, the foreign exchange market has undergone some dramatic transformations….
Black Wednesday: The Day The Bank of England was Broken.
This is one of the well-known stories involving Forex Trading. Among the largest profiteers was the legendary George Soros, who made an amazing 1 Billion pound
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ForexGen strives to give incomparable professional and individualized trading services.
As a professional online trading service, ForexGen provides several facilities for all kinds of traders
FXAcademy has two tutorials . Going through both of them will greatly assist any individual wishing to teach themself forex concepts.
Fast-track introduction..
This is an easy guide on forex market basics for newbies. The fast track intro is for forex beginners. Experienced traders should skip this simple tutorial .
Advanced Forex.
This is an introduction to advanced forex concepts. A greater part of this tutorial goes into introducing technical and fundamental analysis.Teach yourself advanced concepts such as money management, risk management ….
- Understanding fundamental analysis:
- Learn technical analysis.
More…
Our goals:
To provide education for beginners hence give everyone an opportunity to learn profitable forex trading.
To promote the best forex trading platform.
To endorse the best tools for learning and trading - software, forex education and training ,online brokers, courses, traders’ groups and books.
By registering on ForexGen, you create your ForexGen profile and you can go ahead and open as
many Demo accounts , and Live accounts as you need. All accounts can be created online and
managed under your ForexGen profile. You can mix between Mini, Standard, Pro, Premium and
No Dealing Desk accounts in one Profile. Instant Approval.
Teach yourself forex trading now! It will be the most important step towards your financial freedom. One of the secrets to successful trading is ” millionaire traders are ordinary people like you”.
The only difference is they have taken time to learn and understand how forex works. Placing profitable trades and making money with forex is easy once you learn and develop the required skills.
FXacademy has forex tutorials aimed at explaining the forex market concepts to beginners.
It is a simple guide meant to explain concepts of forex using easy to understand tutorials. Tutorials range from basic to advanced and caters for beginners and experienced traders.
Why should I Learn Forex ?
Forex is the largest market on planet earth. Gross daily turnover is over US$2.5 trillion. That’s many times bigger than all equity markets. It is no secret that you can make huge profits in currency markets.
Many individuals are successfully investing in day trading and generate a turnover of US$50 Billion daily. Internet technology makes online trading the best home business opportunity available.
Anyone can teach themselves and start trading forex online immediately from their home computer.
How You Make Money Trading Forex Online?
The goal of forex market trading is to exchange one currency for another in the expectation that the currency you bought will increase in value compared to the one you sold.
Most investors are day traders, they enter and close their positions in a single day (EST).
Learn more…
What are the requirements for trading?
Below is a list of things needed to start currency trading.
1. Learn how the market works.
Profitable trading requires good knowledge and skills. One needs to understand how to read quotes, place trades, stop losses… Many online forex resources and trading guides are available to individuals who wish to learn how forex works.
2. A forex trading strategy.
Many online brokers allow you to open practice accounts before trading with real money. This allows you to develop and test forex strategies,You can then pick the best one , that allows you to place more profitable trades. You should develop a trading strategy that works otherwise you will not make profit in forex trading.
3. An online broker.
You need to open a trading account with a online broker. For $25 000 + you can open a managed account. Mini forex accounts require a minimum of $25 depending on your broker.
A managed forex account allows you to relax while experienced investors trade on your behalf.
With ‘minis’ you do trading, money management..everything by yourself.
The broker will provide a trading platform which is an application for conducting trades. It is important to learn how to correctly use the platform provided by your chosen online broker.There is no room for mistakes in forex trading.
Why ForexGen?
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
The are many benefits of forex trading when compared to other financial markets. One of the major advantages over all other markets is the low margin requirements.
Some modern retail brokers offer traders leverage of a whopping 500:1. This is a margin requirement of just 0.2%. This may sound very enticing when we think that we can open a $1,000,000 position for just $2,000. However, it is important to remember that leverage can work with you as well as against you. Leverage can amplify your trading gains as well as your losses.
Another huge benefit of the forex market is the fact that it is open 24 hours a day. Just as one financial center closes, another opens. More information about the trading times of different financial centers can be found on our trading hours page.
The Forex market is the most liquid of all the financial markets. The main of this is the fact it can result in some very low spreads (the difference between the buy and sell price), especially on the major currency pairs. For example I have seen spreads of lower than 1 pip on EUR/USD.
Due to the high liquidity of the forex marketplace, it makes it possible to trade a very wide range of forex trading strategies. Some of these include scalping strategies, news spike strategies, swing trading strategies, pseodo hedge type strategies, carry trade strategies and many more.
Another benefit of the currency market is the fact that as it trades currencies, and currencies all have a base interest rate, it opens the opportunity to buy a currency with a high interest rate, whilst selling a currency with a low interest rate. This enables the trader to profit from the difference in the interest rates. This is known as the carry trade.
In conclusion, the forex market has many advantages over the other financial markets and there is great potential to earn excellent returns on your investment. However, it is very important to remember that whilst leverage can improve your trading gains, it can also increase your trading losses.
ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.
This introduction is for absolute beginners in Forex trading. If you don’t need to refresh your mind on basics go ahead and skip to the next section:Mechanics of Forex Trading.
What Is Forex?
What Drives The Forex Market?
Exchange Rates.
1. What is Forex ?
No prizes for answering the above. The word Forex consists of two words FOReign and EXchange.
Definition: Forex is a cash market where currencies are traded against each other
The word can be shortened to FX hence the full name for this site becomes Foreign Exchange Academy.
The Forex market is not exactly a single physical location. It can be in a bank, forex bureau, travel agent or wherever trading of one currency for another occurs.
It is an over the counter market. Major Buyers and sellers are banks, governments, corporation , investors, private individuals .These parties exchange currencies at the current going rate known as the spot price.
2. What Drives the Forex Market?
Different countries use different currencies, however cross-border trade has to take place.
The Forex market is therefore a vehicle driven by the need to move monetary payments across borders and transfer funds and value from one currency to another. If the whole world used one currency there would be no need for the forex market.
For example if a US restaurant needs to buy Italian cheese it needs Euros to pay the Italian cheese maker so it must be able to exchange US dollars for Euros.
Likewise if the US restaurant makes the payment in US Dollars the Italian cheese maker must be able to change the Dollars into Euros. It’s as simple as that.
3.Exchange Rates?
What then is the rate used to exchange one currency for another?
How many Euros are exchanged for one US Dollar?
This rate is where the ‘Forex game’ begins. What does this rate depend on?Several conditions affect the rate of one currency against the other. The most significant factors that move currency rates are interest rates, global trade, inflation, and political stability.Many other factors determine currency rates and these will be examined next.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
