Exchange rates at Forex are changing constantly, and fluctuations may happen many times per second - this market is very liquid, compared to Indian stock markets. Indian forex traders should profit from this situation.
Stay in India. Earn in Dollars.
The size of foreign exchange markets now dwarfs any other investment market by a large factor. It is estimated that more than USD 3,000 billion is traded every day, far more than the world's stock and bond markets combined.
Seven Reasons to Trade in Forex Market
Foreign Exchange, also known as Forex, is an inter-bank market where investors "institutions and individuals alike" can trade foreign currencies on a global scale. The Forex market emerged in 1971 when international trade transitioned from fixed to floating exchange rates. Since then the rates of currencies relative to each other are determined by the most obvious means which is the exchange at a mutually agreed rate. With the easing of RBI regulations, the Indian forex trading has started picking up.
Foreign Exchange, also known as Forex, is an inter-bank market where investors "institutions and individuals alike" can trade foreign currencies on a global scale. The Forex market emerged in 1971 when international trade transitioned from fixed to floating exchange rates. Since then the rates of currencies relative to each other are determined by the most obvious means which is the exchange at a mutually agreed rate. With the easing of RBI regulations, the Indian forex trading has started picking up.
Forex doesn't have a fixed location of the trading floor and trading is done via phone or internet simultaneously in hundreds of facilities around the world. During the 2008-2009 global recession, while commercial companies have had to face a much more volatile currency environment, investors and financial institutions have found a new playground. Indian forex traders should take advantage of this scenario. Forex traders in India can just start with a credit card or a paypal account. You can get a free paypal account here.
Forex is open 24 hours a day and currency exchange operations are maintained throughout the working days of the week in almost every time zone including London, New York, Tokyo, Hong Kong, India and Sydney. To understand how quickly Indian forex traders can make money, just click on the banner below.
Forex is open 24 hours a day and currency exchange operations are maintained throughout the working days of the week in almost every time zone including London, New York, Tokyo, Hong Kong, India and Sydney. To understand how quickly Indian forex traders can make money, just click on the banner below.
Forex Beginner's FAQs
Q: What is Forex trading?
Forex, Foreign Exchange Market, is an international exchange market where currencies from all around the world are traded. It involves buying and selling different currencies of the world. Forex market is the largest trade market in the world, yielding $3 trillion daily. It is traded all around the world however United States, Japan, United Kindom, and Europes have the most active Forex traders. In India, after RBI has revised its regulations, Forex trading has started pickingup. Many internatioal forex broking houses have started taking interest in India and a few of them like eToro and Alpari have also opened their local trading office in India.
Q: How Forex trading works?
Forex is often traded in pairs, for example USD/Euro, USD/JPY, Euro/JPY, GBP/CHF, and CAD/USD. You get 'short' in one currency and you will get 'long' in the other one. Unlike conventional stocks market, Forex trading does not have a centralized trade market. It is considered as Over-the-Counter or Inter-bank as trades are done between two counterparts via electronic network or telephone connections. Forex works truly as a 24-hour market. Everyday Forex trade begins when the financial centers in Sydney start their day, and moves around the globe to Tokyo, London, and then New York. Traders can always response to the market regardless of the local time. Therefore Indian forex traders can trade from home in the evening or night unlike stock trading in NSE/BSE.
Q: How high are the risk in Forex trading?
The risks of losing money in Forex trading is like any other financial market, but it is controllable via proper education and trading system. Trading system is a must in Forex trading. Charts, graphs, or pivot points are handful to indicate the right time to enter or exit the market. An 'automated system', such as artificial intelligent robot softwares make your life easier. As in any trade market, discipline, control of emotion, and money management are the traits needed to be succeed in Forex trading. Rewards in Forex trading can be very lucrative if traders manage their risk nicely. One benefit to using our recommended brokerage firm is that they guarantee fills at your Limit and Stop-Loss order prices with no slippage. This means you can have total control over the amount you risk on each trade. But remember, FOREX Trading is speculative and any capital used should be risk capital.
Q: Forex vs traditonal stocks/mutual funds trading: How does they match up?
Forex and conventional stocks are different type of trading. When trading Forex, most trader's objectives are to predict short term movement in the currency exchange values. Therefore its highly "technical intensive" and hence automated softwares can be used. The beauty of this system is that once your strategies are in place, the software does all your trading for you passively. Most Forex tradings are done in day-trading style where traders will buy and sell in the same day. Different from Forex, stocks and mutual funds trading are more to long term style where trades may last for years or even decades! Indian stock traders do not have a chance to work with automatic robots, because the NSE/BSE trading platforms do not allow it. However, Indian forex traders do not have this limitation as the forex trading in India done online through international brokers.
Forex, Foreign Exchange Market, is an international exchange market where currencies from all around the world are traded. It involves buying and selling different currencies of the world. Forex market is the largest trade market in the world, yielding $3 trillion daily. It is traded all around the world however United States, Japan, United Kindom, and Europes have the most active Forex traders. In India, after RBI has revised its regulations, Forex trading has started pickingup. Many internatioal forex broking houses have started taking interest in India and a few of them like eToro and Alpari have also opened their local trading office in India.
Q: How Forex trading works?
Forex is often traded in pairs, for example USD/Euro, USD/JPY, Euro/JPY, GBP/CHF, and CAD/USD. You get 'short' in one currency and you will get 'long' in the other one. Unlike conventional stocks market, Forex trading does not have a centralized trade market. It is considered as Over-the-Counter or Inter-bank as trades are done between two counterparts via electronic network or telephone connections. Forex works truly as a 24-hour market. Everyday Forex trade begins when the financial centers in Sydney start their day, and moves around the globe to Tokyo, London, and then New York. Traders can always response to the market regardless of the local time. Therefore Indian forex traders can trade from home in the evening or night unlike stock trading in NSE/BSE.
Q: How high are the risk in Forex trading?
The risks of losing money in Forex trading is like any other financial market, but it is controllable via proper education and trading system. Trading system is a must in Forex trading. Charts, graphs, or pivot points are handful to indicate the right time to enter or exit the market. An 'automated system', such as artificial intelligent robot softwares make your life easier. As in any trade market, discipline, control of emotion, and money management are the traits needed to be succeed in Forex trading. Rewards in Forex trading can be very lucrative if traders manage their risk nicely. One benefit to using our recommended brokerage firm is that they guarantee fills at your Limit and Stop-Loss order prices with no slippage. This means you can have total control over the amount you risk on each trade. But remember, FOREX Trading is speculative and any capital used should be risk capital.
Q: Forex vs traditonal stocks/mutual funds trading: How does they match up?
Forex and conventional stocks are different type of trading. When trading Forex, most trader's objectives are to predict short term movement in the currency exchange values. Therefore its highly "technical intensive" and hence automated softwares can be used. The beauty of this system is that once your strategies are in place, the software does all your trading for you passively. Most Forex tradings are done in day-trading style where traders will buy and sell in the same day. Different from Forex, stocks and mutual funds trading are more to long term style where trades may last for years or even decades! Indian stock traders do not have a chance to work with automatic robots, because the NSE/BSE trading platforms do not allow it. However, Indian forex traders do not have this limitation as the forex trading in India done online through international brokers.
Q: What are the major traded currencies?Major traded currencies are United States dollars, Australian Dollars, Japanese Yens, British Pounds, Swiss Francs, Canadian Dollars, and the Euro Dollars.They are the ones which forex traders in India also trade in as India Rupee is not actively traded in the forex market.
Q: Who are the major players in Forex trading?
According to Wall Street Journal Europe, 73% of the trade volume is covered by Deutsche Bank, who covered 17% of the total currency trades; followed by UBS, Citi Group, HSBC, Barclays, Merril Lynch, J. P. Morgan Chase, Coldman Sachs, ABN Amro, and Morgan Stanley. The Indian forex trader can take advantage of the forex market fluctuations because of the interbank trading as well as government decisions of major countries in America and Europe.
Q: Who do you recommend to learn Forex from?
You can start with this free forex book. To get your copy please click here.
Q: What tools do i need to start trading Forex?
It does not need a lot to start trading Forex: a funded Forex account and a computer with Internet connections are basically sufficient for you to start trading foreign currencies. Forex traders in India can just start with a credit card or a paypal account. You can get a free paypal account here.
However, proper Forex education and systematic trading tools are highly recommended to minimize your risks in Forex market.
Also, beginner forex traders in India are advised to start off their trading in Forex with a demo account first. A demo account is an account set up with 'play' money for the purpose of training and sharpen your trading skills. It's free to open a demo account with all the Forex brokers given here and it does not risk your real money in the trades.
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