Showing posts with label Forex. Show all posts
Showing posts with label Forex. Show all posts

Monday, August 18, 2014

Forex Peace Army: Hackers or Defenders of Traders?

Those who have run into Forex Peace Army must have been struck by a question – what is this anonymous organization about? Who are they? Hackers, fighters against dishonest brokerages, or rather shrewd money suckers concentrating on brokers financially incapable to resist it?


Traders

So, how can Forex Peace Army be defined for strangers to Forex? A priori, FPA is a forum that was set up for posting good and bad comments (mostly bad though) on a certain Forex brokerage, dealing centre or investment company. The authors of these posts are obscure, but the trustworthiness of the posts is even more obscure. So, for what purpose was this portal established? The perfect answer would go as follows: to tear the masks off Forex fraudsters among brokerages and dealing centres... But the facts tell their own tale. FPA is a source of easy pickings through blackmailing. Let's have a look at pure facts to understand the essence of FPA flourishing on the internet.

You can't leave a post contradicting the general tone of a thread focused on a given brokerage. In other words, you can't post a positive feedback on a broker you have had a smooth experience with in a thread criticizing it. Your upbeat post simply won't be allowed by moderators. Moving further, the FPA website has an apparently false traffic, which means its developers strive for significance in the eyes of brokerages, rather than statistics of real visits. So, once a number of negative comments on a broker is sufficient, FPA offers the broker to stop the flow of criticism for a price, which, as they say in the internet, depends on a brokerage and on how sensitive its reputation is to FPA. Yet, it is for sure that the price starts from $15,000. Should a brokerage decline the suggestion of FPA, it is doomed to the FPA enemies list, black PR and slander for years to come. Anyway, it should be said that large reputable brokerages well-established on the market never succumb to vicious FPA's attacks, ignoring their blackmail attempts.

Some more facts on FPA. The authors of this project have also been creating pseudobrokerages that trade professional and reliable Forex signals “thanks” to which hundreds of traders around the globe “wasted” their deposits. By the way, neither FPA, nor websites trading signals offer any contact information except for emails, which suggests that these are nothing but a couple of computers in private houses.

The fact about FPA creator, Dmitri Chavkerov, is that he has been engaged in a criminal trial over a fake marriage scam. His plan was to arrange a fake marriage to a U.S. National for his girlfriend so that she could get a U.S. green card, while Dmitri Chavkerov himself was illegally staying in the United States. Besides preparing the wedding, Dmitri was in talks with a U.S. husband-to-be over the monthly premium for the later.

All the above-mentioned facts provide a sufficient ground to conclude that the FPA project led by Dmitri Chavkerov (aka Forex-Bastard) are fraudsters grabbing money from their customers offering false signals and racketeers forcing brokerages to pay by posting lies.

Moreover, the U.S. government website mentions a delinquent nature of Dmitri Chavkerov. Consequently, he may well be engaged in other criminal activities since he who breaks one law can easily break others.

Saturday, May 10, 2014

Understanding Forex Trading and Making Money

Forex is a technical term which is not known to many individuals because of its complex methodology. Basically, forex is derived from two words – ‘foreign’ and ‘exchange’. This is the act of exchanging one currency for another. Since the globe is infiltrated with various currencies, transaction is facilitated worldwide. Forex is affected by different factors that is why it is characterized as volatile. In order to understand the volatility of the market, you need to acquire certain forex tools and techniques so you can follow the trends and be able to make more money. If you want to trade, you have to accept the fact that losing is part of the game. Even the most successful trader experiences ups and downs and this is what this business is all about, accepting ambiguities and striving further to move on.

Forex Trading

Any person can engage in forex. Whether you are a plain housewife or a successful businessman, you are welcome in the world of trading. If you are a beginner in this business, you need to be guided by certain guidelines that will help you in making realistic decisions. When it comes to investing money, you have to be keen and intelligent. Here are ways on how to understand the business and be able to make money.

How does the system work?

Brokerage companies invite investors, businessmen and career individuals to engage in buying and selling of currencies through the internet. In the process, you will be offered some software and tools that will help you trade more efficiently. For any successful trade that you achieve, the brokerage company is given a small commission. Therefore, you have to find a reliable broker and sign up for an account. Once you have completed the process, you need to fund your account using your credit card or any financial platform. In the case of making profit, the money will be transferred into your account for withdrawal.

What are the currencies to trade?

In the world of forex trading, you have to deal with the so-called ‘currency pairs’. The four major currency pairs are: USD and Swiss Franc (USD/CHF), USD and Japanese Yen (USD/JPY), Euro and USD (EUR/USD) and British Pound and USD (GBP/USD). A pair of currency is further understood as one being the commodity and the other as money. For example, when you choose EUR/USD pair, you will have to buy Euros against the USD. If you plan to sell the currency, you will have to sell Euros against the USD. You don’t need to worry about currency conversion because the trading software you acquired will take care of this. Take note that exchanges are done automatically.

How can you make money through Forex Trading?

The most basic formula to use in order to make money is buying low and selling high or selling high and buying low. Here is a concrete example: If you buy JPY against USD where each JPY is $1.9544USD, you have to sell it at $2.0235USD. As you can see, in every JPY you sell, you earn a particular amount of profit. Hence, the amount of currency you purchased will be multiplied with the profit you gained. For example, if you bought 100JPY then your profit will be multiplied by 100. This is how you gain profit in forex trading. The only drawbacks are variables such as calamities, disasters and petrol price increase. The movement of the market is dependent on these factors therefore; you ought to know when it is the best time to trade.

Forex trading is considered as a technical form of business that requires analytical thinking and logical reasoning. It may be difficult to understand the system at first but as long as you are equipped with complete forex trading tools and strategies, you can trade efficiently. Sometimes, intuition can help you become a successful trader. If you want to make money out of forex, study the market first and search for a quality brokerage company.

Tuesday, March 18, 2014

What Are The Forex Markets?

The foreign exchange market, also referred to as Forex, is an international market for the buying and selling of currencies. It is by far the largest and most liquid of all the major financial markets around the globe, with a daily turnover that exceeds $5 trillion dollars each day. This is actually more than 3 times the total combined value that is traded on the world's stock markets. For this reason it is a financial market that investors simply cannot ignore.

Forex Markets

What Is Traded On Forex?

Money to be precise. Forex trading is all about trading and exchanging currencies. International currencies are traded against each other with a view to finding value and therefore profit. Traders back those currencies which are expected to outperform and appreciate in value against their peers.

The value of a currency is reflected in a currency quote. Currency dealing takes place in pairs and therefore in each quote you will see two currencies listed. With each transaction you are effectively buying one currency and selling the other. The rate quoted reflects how much of the lead currency is needed to purchase the second currency in the quote.

Here is an example. If you buy the EUR/USD currency pair, then you are exchanging one EURO for a one unit of the US Dollar rate that is specified in the quote.

It is important to recognize that the quotes used in currency trader are constantly changing. This fluctuations reflects the underlying deals that are being executed on the market.

Which Currency Pairs Are Traded?

All of the major currencies of the worlds are traded on Forex. However most of the dealing is carried on what are known as the currency 'Majors'. These represent the most important currencies on the markets from an investment perspective.

The most traded pairs containing these currencies are - EUR/USD, USD/JPY, GBP/USD and USD/CHF.

The next most traded currency pairs are the USD/CAD, EUR/GPB, AUD/USD and NZD/USD. Other more exotic currencies are traded. However their high costs for transactions and lower trading volumes make them less attractive from a trading and investment perspective.

Who Trades Forex?

Dealing in currencies for trade and investment is not know. It is long been practiced in ancient civilizations  In these times it was mainly used to help with trade agreements between different regions and to support movement to between different areas of the globe.

These reasons still make up a large portion of the deals that are made on this market. However increasingly Forex has become the focus for day traders and investors. Banks and financial companies as well as individuals deal on this market in the hope to profit from the constant fluctuations of rates. In many instances huge sums of money are used to make high profits on both short and long term price movements in this market.

The retail part of the Forex market is now one of the fastest growing areas of financial investment. Low barriers to entry and an increasingly discerning investor have made it a popular destination for speculators. It is not common for currencies to make up a proportion of the portfolio of many seasoned investors.

Is it easy to start with Forex?

Getting started with trading on Forex has never been easier. All that is needed is access to a computer and a small amount of money deposited with a broker with which you can start trading.

You carry out transactions through an online broker who will provide you with the necessary tools such as a trading platform to carry out live dealing in the Forex markets. Many also will provide introductory information and guides to help get you started.

About The Author

Phil Moore is a blogger for BinaryOptionsInvestor, an independent financial trading site for Forex and Stock traders. To find out more information about how to trade Forex with Binary Options pay it a visit now.

Thursday, January 2, 2014

Starting Out in Forex

Forex Trading is fairly new to the investment scene.  It's been roughly 10 years since the Foreign Exchange Currency markets were opened to the small investor.  It's taken only a decade for the Forex markets to reach a daily trading volume of over $5 trillion.

Forex

New online brokerage firms are popping up all the time, some with fantastic websites and features that offer you the world just for signing up for a trading account. With offers of high bonuses, small minimum deposits, free tutorial videos and a choice of platforms, choosing a broker has become a difficult task.

Information Availability

One of the other reasons Forex trading online has grown is the ready access to public information on the currency markets at any time.  Years ago, there was very little information available to the home investor but now that has all changed. Competition pushes innovation along at a rapid pace and when it comes to making money, the world of technology duly responds.  Only recently, free charting services in real time were made available, regenerating in as little as 5 second intervals.  Technology and increased Internet speed has revolutionized many aspects of investing and has helped to make Forex trading a very popular way to make money.

Most broker websites offer a ton of useful information for the Forex trader. In addition to up-to-date news from around the world, they post reports on Forex trends, describe Forex strategies and upload blogs and articles that could interest the trader. Some brokers allow their account members to view trades being made by other traders so they can copy them or at the very least, get a feeling of the direction traders are taking in Forex trading.

In addition, brokers offer educational seminars and online tutorials for their account holders. This material covers the basics of Forex trading and more advanced tools and techniques for increasing your chances of coming out with a profitable trade.

There are very few brokers that don't offer a demo or practice account. This account is made available to new traders for specific periods of time during which you can trade with virtual money supplied by the broker without the risk of losing your own funds. This is a terrific way to experiment with trading and gain the experience you need before moving over to a regular trading account.

Day Traders

Just as there are day traders in stocks, so there are day traders with Forex. Forex day traders move quickly and at all times of day and night.  There are online economic calendars that post economic events happening around the world on a monthly basis and the currency markets jump on these news items sending prices upward or downward at a rapid pace.

Day traders and investment traders alike should stay close to what is happening in all parts of the world as these events happen in split second time frames and have immediate effect on currency prices.

There are also many software packages available that help you develop a trading strategy. Using a strategy is one of the most important ways to trade Forex. It's not always easy to formulate your own system of trading and there are so many programs available online that this is no longer a problem. Always pick a system that you feel will work for you. You can even find websites that let you try out their platforms with their built in software tools and allow you to make actual trades using a dummy account. This is a great way to test out your system and see if it works for you