Forex is a decentralized money market. It can also be described as a market where the trading of currencies between two countries takes place. It is a global platform where worldwide financial centres act as the pillars of trading through which buyers and sellers can conduct transactions of foreign exchange. This financial market basically determines the relative assessment of currencies across the world that is majorly influenced by a particular country’s economic and political situation, and allows the conversion of currencies to assist in international trade and investment opportunities. Forex is also known as Foreign Exchange market.
One can buy as well as sell financial products like shares, bonds, stocks, currencies or securities over the internet the process of which is known as Online Trading. It is done online through internet based software that is essentially the brokerage’s proprietary trading platform. In this case the investor makes use of the brokerage services by placing an order to the broker online. The broker in turn performs its execution and charges a nominal fee unlike regular brokers who take commission on the trade. Online trading is different from Electronic trading that takes place on an exchange and wireless trading that is done through mobile phones or hand held organizers.
There are many benefits that come along with online trading. A full service broker charges a certain amount of commission fee that equals to a percentage of the trade amount. So one can save quite a lot by not having to pay that if trades over the internet. The owner of the brokerage firm site also charges a fee but is much lower and based on a per trade scenario. What’s more, necessary assistance is provided during trading hours. Online trading is convenient and helpful also because it offers moment to moment control while following open investments. This gives the investor the chance to trade the instance an occasion arises, without having to run after a broker to do the same. That’s not all. It is much simpler to “paper trade” or “virtual trade” over the internet as far as ‘pretend trading’ is concerned (done by starters before actually investing real money). Some online sites also encourage traders to start with a very little investment capital in an account.
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