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FOReign EXchange market is in its way a large currency exchange on which currencies are traded. It was established in 1971 when worldwide trading changed fixed currencies to the floating ones. Each currency is a trading good as oil or gold on the Forex market. Prices for every currency depend on economies and politics of the world countries. Forex market is the biggest financial market in the world, including all economically developed countries, and nowadays has an average turnover 3 trillion USD per day.
Schedule of trade - 0:00 Monday to Friday 24:00 (CET time), five days a week. The market is closed on Saturday and Sunday.
Currencies are traded in currency pairs. Currency on the first place in the currency pair is a base one. Currency on the second place is a quoted currency. Currency pair determines a position between currencies. For example, how much of quoted currency is needed to buy the base currency.
Marginal Trading is used as part of leverage, and thanks to which a client can make trading operations using amounts which significantly exceed the amount on their trading account.
Margin is an amount of money that must be available on account to open a position and keep it in trade. If equity falls below margin level, some or all positions may be closed. It helps to save your account from more sufficient losses.
АSK is the price at which the trader buys currency.
BID is the price at which the trader sells currency.
SPREAD is the difference between ASK and BID.
Leverage is a financial technique to multiply income or loss. Leverage 1:100 means that for performing an order you can have on trading account an amount in 100 times smaller than the amount of order.