Characteristics of Foreign Exchange Market: Complex Subject Made Simple by24x7assignmenthelp.com
Foreign exchange is converting one currency into another currency or exchange a currency with the other. The term foreign exchange is usually abbreviated to ‘forex’ or ‘FX’.
Forex market is the place for trading currencies.Some of the largest trading centers are London, New York, Singapore and Tokyo.
Characteristics of Forex market:
Foreign exchange market is the only market which stays open 24 hours a day, except for weekends. This is possible since all continents are part of trading. This is a unique concept, and it gives dealers the option to act without a time limit, and to respond to any development that occurs in any place on the planet.
There’s a very high volume and high liquidity in the forex market because of many big players in foreign exchange market. The forex market’sdaily volume is approximately 3 trillion dollars and increasing! This gets divided between import-export payments, and other investment deals. These investment deal should majority of the flow in the market.This lures many banks, brokers and investment houses into the market, thus creating competition.
Forex accounts can be opened with just a few hundred dollars.Lower costs make possible losses significantly lesser. Forex trading costs are limited to the variation (spread) between the buying and selling costs of a particular currency pair. Intense competition has lowered the spreads between selling and buying prices. Low spreads, along with high competition has drawn many people including small, individual investors into forex trading.
Forex trading is a transparent process because the trader gets complete access to all market related data and information that are required to perform successful transactions. This transparency implies that forex traders have a better control over their investments and can make better decisions based on the information available. Get all these explanations in your assignment through characteristics of foreign exchange homework help.
Geographical boundaries don’t play any role in the Forex market, contrary to stock markets and other markets. It is possible for anyone to trade from anywhere.
Forex traders make money by analyzing and predicting the direction the market takes. For this, they have to ensure they get accurate market data. They, therefore, need to rely heavily on trends for accurate prediction.
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