Who is FXOpen?
What kind of services does FXOpen provide?
FXOpen gives the clients access to the Forex market covering major world currencies, gold and silver. The company offers a unique combination of retail Forex and true ECN online currency trading with Level 2 data on the FXOpen MetaTrader 4. The ECN Model gives traders access to the Interbank market (know more about FXOpen business model here). When compared to the MM trading model with fixed spreads and no commissions, the ECN trading model with floating spreads and commissions significantly lowers your costs.
What is Forex?
Forex is an inter-bank market that took shape in 1971 when global trade shifted from fixed exchange rates to floating ones. This is a set of transactions among forex market agents involving exchange of specified sums of money in a currency unit of any given nation for currency of another nation at an agreed rate as of any specified date. During exchange, the exchange rate of one currency to another currency is determined simply: by supply and demand – exchange to which both parties agree.
What is this website about?
This is an official blog of FXOpen Company. Here you can find articles related to Forex and FXOpen, that were not published on our main website www.fxopen.com for various reasons. Here on blog.fxopen.com you can learn Forex with our Trading Tips and Forex strategies, Forex and Crypto Analytics, Market Insights articles, also read about FXOpen News and ForexCup competitions and events.
Who is the author of posts published on this website?
The team of FXOpen Blog consists of several regular contributors:
Aayush Jindal has spent over 10 years as a financial markets contributor and observer
Usman Ahmed – an individual Forex trader and market analyst
Petar Kotevski – forex trader, writing articles on Bitcoin and other alternative currencies
Also we have several experts, who write for the blog rarely, but neatly:
Jafar Calley – a trader of 10 years experience, an Expert at FXOpen Company
Sherif Saad – Chief of Education, Speaker of the FXOpen Company
That would be also great to mention guest authors like Bitcoin Rat (one of the most active members of the Bitcoin twitter community), Igor Titara (individual Forex trader and market analyst), Marcin Nowogórski (Forex trader, analyst and editor), etc.
How to know more about FXOpen?
Please, visit FXOpen official website at www.fxopen.com
How to trade over the Internet?
FXOpen clients may place trades manually from the MetaTrader 4 terminal or use an Expert Advisor (a Robot) – an automated trading strategy which trade the Forex market 24/7 without any user intervention. Executing trades via the Internet is made easy byFXOpen. Just download and install the MetaTrader 4 software and log in to your account. To place an instant Market Order, click the New Order button in the trading terminal, enter the desired trading volume (the number of lots) in the New Order window, then click on the Sell (BID price) or Buy (ASK price). Your deal is then automatically executed by the dealing software which will calculate the margin requirement, and if there is sufficient margin funds available in the account, the deal is confirmed online within just a few seconds (instantly on ECN/STP accounts!). The open order will then appear in your trading terminal, window Terminal, tab Trade and its floating Profit/Loss will be updated automatically according to the current market conditions.
How much profit can actually be made?
Naturally results can and do vary among individuals and no guarantees can be made as to profitability. Some markets for instance the Japanese Yen have been known to move 400 pips in one day. If you calculate that 1 pip is equal to approximately $7.8 per lot and you entered the market favouring that move, even if you only got in halfway through that move, you would have made quite a substantial profit. But, and this is a big “but”- you need to be aware that the risks of Forex trading can be substantial, that results do vary from person to person, and that the knowledge and experience that each one has is different.