OnlineForex.biz covers major news and events in this Foreign Exchange industry. In addition, you can find educational material, reviews, and comparisons regarding the online Forex market. There is a wide variety of articles and trading analysis for beginners and advanced currency traders.
Introducing the Foreign Exchange Market
Forex means FOReign EXchange and it is a 24/5 global market where world currencies are traded one against the other. Forex is the largest financial market in the world, as the daily volume of transactions is estimated to exceed $4 trillion.
■ The most significant Forex centers include London, New York, Tokyo, and Sydney
More: » The Forex Industry | » Regulation | » Forex Partners
- Forex Currency Pairs
A currency pair or else an exchange rate is a quotation of two different currencies (i.e. EURUSD). The first listed currency of a currency pair (i.e. EUR) is called the base currency, and the second currency is called the quote currency (i.e. USD).
The most liquid pairs in the Foreign Exchange Market are: EURUSD, GBPUSD, USDJPY, CADUSD, AUDUSD, EURGBP, EURJPY, and NZD/USD
- ECN & STP Forex Trading
ECN means Electronic Communication Network and it is an electronic bridge connecting large liquidity providers (i.e. banks) with smaller market participants (i.e. retail traders). This connection works through an ECN Forex Broker who charges trading commissions for offering access to the ECN market. STP means Straight-Through Processing and refers to the method of transferring retail trading orders straight to liquidity providers, without any dealing desk intervention. STP Forex brokers usually offer a transaction speed between 70 and 150 milliseconds.
■ NDD Brokers: They include ECN/STP brokers and provide direct access to interbank rates. That means traders get a better quotation and faster order-execution
■ DD Brokers: They are known as Market Makers and they build an internal market following the ECN market. Not a good choice for intraday Forex traders
Find News & Events -Covering the Vast Foreign Exchange Market
Forex trading is quite popular around the globe, and this means there are thousands of providers and millions of traders. OnlineForex.biz aimd to cover the main news and events in the Foreign Exchange market.
- Forex Expos
There is a great number of high-class Forex expos happening every year. These expos are held all over the world, from New York to Cyprus, Dubai, and Hong Kong. During these events, retail traders and Forex companies have the chance to meet in person and discuss Forex trading. Moreover, Forex expos usually offer a strong educational incentive by offering seminars and workshops, and by hosting important spokesmen.
» Forex Events | » Market News
Find Online Forex Reviews & Ratings
OnlineForex.Biz is specialized in trading reviews, and that includes Forex brokers and trading systems. You may read these reviews like reading a business card. More specifically, you may find:
■ Company info | Trading info | Account Info
In addition, you can find Forex Brokers comparisons based on certain important trading aspects:
» Compare Forex Brokers | » Compare Forex EAs
Forex Brokers Ratings
OnlineForex.Biz has developed a unique rating formula to evaluate Forex brokers. This formula is originally created by the financial analyst Giorgos Protonotarios, and it is used under license.
The rating formula incorporates various parameters, classified into four (4) major trading aspects:
■ Safety of Trading Funds | Trading Cost | Trading Options | Efficient Technology
Currently, OnlineForex.Biz uses the 2nd version of the formula, but there is also a 5th version of the formula (by the same developer):
» Rating Formula v.1.0 (OnlineForex.Biz) | » Rating Formula V.5.0 (TradingCenter.org)
Forex Education -Successful Trading is Demanding
Knowledge is power when trading the Foreign Exchange market. OnlineForex.biz includes various educational and technical resources.
- Introduction to Trading Strategy and Money Management
Selecting and implementing a trading strategy is essential for every Forex trader. Forex strategies may involve several trading styles (scalping, news-trading, swing, etc.) and multiple timeframes {intraday, daily, weekly, or monthly}. A successful trading strategy must incorporate money management principles and reflect the risk appetite of each Forex trader. Money management aims to protect portfolios by helping investors to decide how much to risk on any trade based on their total available capital.
- Forex beginners
Forex trading is very demanding and requires a lot of skills in order to start trading successfully. The importance of preparation before starting to trade is always highlighted on our website. Education and preparation is the only path to trade profitably in any financial market. You can find several educational resources for Forex beginners:
» Forex Trading for Beginners | » Forex Trading Resources
- MetaTrader Platform
The MetaTrader platform from MetaQuotes is the standard platform of the Forex industry. There are two versions of MetaTrader, MT4, and MT5, that allow trading Forex, CFDs, and Futures. MetaTrader can meet the requirements of any trader, offering features such as a full set of trading orders, full customization, 1-click trading, built-in language for developing EAs, historical back-testing, depth of the market (MT5), and much more.
» MetaTrader-4 Tips and Tricks
- Automated Trading
Forex auto-trade refers to a method where a trading system (hardware/software) automatically executes and modifies trading orders in the Forex market on behalf of a certain trading account, without any human intervention. These orders follow certain criteria (rules) that are predefined by the administrator of the system.
» Forex Auto-Trade | » Compare Forex EAs | » Forex Auto-Trade Systems
- Forex Trading Orders
A trading order is an instruction to your broker to buy or sell a financial asset on your behalf. The order-driven system in all modern exchanges automatically matches buyers and sellers.
Generally, trading orders are divided into market orders and pending orders:
- A market order is an order to buy or sell a financial asset immediately, at any given price. This order type guarantees execution but does not guarantee the execution price.
- Pending orders are executed at a pre-specified market price. A pending order can be placed in advance, or afterward, a position is opened, it can also be modified at any time. The great advantage of a pending order is that eliminates the risk of slippage.
You can learn about:
(1) Market Orders | (2) Stop-Loss Orders | (3) Take-Profit Order | (4) Trailing-Stops | (5) Guaranteed stop-loss orders (GSLO) | (6) One-Cancels-the-Other Orders (OCO)
» More on Forex Trading Orders
□ Getting Started at Online Forex
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