Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly. Nevertheless, economists including Milton Friedman have argued that speculators ultimately are a stabilizing influence on the market and perform the important function of providing a market for hedgers and transferring risk from those people who don't wish to bear it, to those who do.[16] Other economists such as Joseph Stiglitz consider this argument to be based more on politics and a free market philosophy than on economics.[17]
Large hedge funds and other well capitalized "position traders" are the main professional speculators.
Currency speculation is considered a highly suspect activity in many countries. While investment in traditional financial instruments like bonds or stocks often is considered to contribute positively to economic growth by providing capital, currency speculation does not; according to this view, it is simply gambling that often interferes with economic policy. For example, in 1992, currency speculation forced the Central Bank of Sweden to raise interest rates for a few days to 500% per annum, and later to devalue the krona.[18] Former Malaysian Prime Minister Mahathir Mohamad is one well known proponent of this view. He blamed the devaluation of the Malaysian ringgit in 1997 on George Soros and other speculators.
Gregory J. Millman reports on an opposing view, comparing speculators to "vigilantes" who simply help "enforce" international agreements and anticipate the effects of basic economic "laws" in order to profit.[19]
In this view, countries may develop unsustainable financial bubbles or otherwise mishandle their national economies, and foreign exchange speculators allegedly made the inevitable collapse happen sooner. A relatively quick collapse might even be preferable to continued economic mishandling. Mahathir Mohamad and other critics of speculation are viewed as trying to deflect the blame from themselves for having caused the unsustainable economic conditions. Given that Malaysia recovered quickly after imposing currency controls directly against IMF advice, this view is open to doubt.
Saturday, May 16, 2009
Swap
Main article: foreign exchange swap
The most common type of forward transaction is the currency swap. In a swap, two parties exchange currencies for a certain length of time and agree to reverse the transaction at a later date. These are not standardized contracts and are not traded through an exchange.
[edit] Option
Main article: foreign exchange option
A foreign exchange option (commonly shortened to just FX option) is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. The FX options market is the deepest, largest and most liquid market for options of any kind in the world.
[edit] Exchange-Traded Fund
Main article: exchange-traded fund
Exchange-traded funds (or ETFs) are open ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g., SPY), but recently they are now replicating investments in the currency markets with the ETF increasing in value when the US Dollar weakens versus a specific currency, such as the Euro. Certain of these funds track the price movements of world currencies versus the US Dollar, and increase in value directly counter to the US Dollar, allowing for speculation in the US Dollar for US and US Dollar denominated investors and speculators.
The most common type of forward transaction is the currency swap. In a swap, two parties exchange currencies for a certain length of time and agree to reverse the transaction at a later date. These are not standardized contracts and are not traded through an exchange.
[edit] Option
Main article: foreign exchange option
A foreign exchange option (commonly shortened to just FX option) is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. The FX options market is the deepest, largest and most liquid market for options of any kind in the world.
[edit] Exchange-Traded Fund
Main article: exchange-traded fund
Exchange-traded funds (or ETFs) are open ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g., SPY), but recently they are now replicating investments in the currency markets with the ETF increasing in value when the US Dollar weakens versus a specific currency, such as the Euro. Certain of these funds track the price movements of world currencies versus the US Dollar, and increase in value directly counter to the US Dollar, allowing for speculation in the US Dollar for US and US Dollar denominated investors and speculators.
Main article: currency future
Future
Foreign currency futures are exchange traded forward transactions with standard contract sizes and maturity dates — for example, $1000 for next November at an agreed rate [4],[5]. Futures are standardized and are usually traded on an exchange created for this purpose. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.
Foreign currency futures are exchange traded forward transactions with standard contract sizes and maturity dates — for example, $1000 for next November at an agreed rate [4],[5]. Futures are standardized and are usually traded on an exchange created for this purpose. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.
Spot
A spot transaction is a two-day delivery transaction (except in the case of trades between the US Dollar, Canadian Dollar, Turkish Lira and Russian Ruble, which settle the next business day), as opposed to the futures contracts, which are usually three months. This trade represents a “direct exchange” between two currencies, has the shortest time frame, involves cash rather than a contract; and interest is not included in the agreed-upon transaction. The data for this study come from the spot market. Spot transactions has the second largest turnover by volume after Swap transactions among all FX transactions in the Global FX market. NNM
[edit] Forward
[edit] Forward
Algorithmic trading in foreign exchange
Electronic trading is growing in the FX market, and algorithmic trading is becoming much more common. According to financial consultancy Celent estimates, by 2008 up to 25% of all trades by volume will be executed using algorithm, up from about 18% in 2005.[citation needed]
An algorithmic trader needs to be mindful of potential fraud by the broker. Part of the weekly algorithm should include a check to see if the amount of transaction errors when the trader is losing money occurs in the same proportion as when the trader would have made money.
An algorithmic trader needs to be mindful of potential fraud by the broker. Part of the weekly algorithm should include a check to see if the amount of transaction errors when the trader is losing money occurs in the same proportion as when the trader would have made money.
Market psychology
Market psychology and trader perceptions influence the foreign exchange market in a variety of ways:
Flights to quality
Unsettling international events can lead to a "flight to quality," with investors seeking a "safe haven". There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts. The Swiss franc has been a traditional safe haven during times of political or economic uncertainty.[12]
Long-term trends
Currency markets often move in visible long-term trends. Although currencies do not have an annual growing season like physical commodities, business cycles do make themselves felt. Cycle analysis looks at longer-term price trends that may rise from economic or political trends. [13]
"Buy the rumor, sell the fact"
This market truism can apply to many currency situations. It is the tendency for the price of a currency to reflect the impact of a particular action before it occurs and, when the anticipated event comes to pass, react in exactly the opposite direction. This may also be referred to as a market being "oversold" or "overbought".[14] To buy the rumor or sell the fact can also be an example of the cognitive bias known as anchoring, when investors focus too much on the relevance of outside events to currency prices.
Economic numbers
While economic numbers can certainly reflect economic policy, some reports and numbers take on a talisman-like effect: the number itself becomes important to market psychology and may have an immediate impact on short-term market moves. "What to watch" can change over time. In recent years, for example, money supply, employment, trade balance figures and inflation numbers have all taken turns in the spotlight.
Flights to quality
Unsettling international events can lead to a "flight to quality," with investors seeking a "safe haven". There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts. The Swiss franc has been a traditional safe haven during times of political or economic uncertainty.[12]
Long-term trends
Currency markets often move in visible long-term trends. Although currencies do not have an annual growing season like physical commodities, business cycles do make themselves felt. Cycle analysis looks at longer-term price trends that may rise from economic or political trends. [13]
"Buy the rumor, sell the fact"
This market truism can apply to many currency situations. It is the tendency for the price of a currency to reflect the impact of a particular action before it occurs and, when the anticipated event comes to pass, react in exactly the opposite direction. This may also be referred to as a market being "oversold" or "overbought".[14] To buy the rumor or sell the fact can also be an example of the cognitive bias known as anchoring, when investors focus too much on the relevance of outside events to currency prices.
Economic numbers
While economic numbers can certainly reflect economic policy, some reports and numbers take on a talisman-like effect: the number itself becomes important to market psychology and may have an immediate impact on short-term market moves. "What to watch" can change over time. In recent years, for example, money supply, employment, trade balance figures and inflation numbers have all taken turns in the spotlight.
Political conditions
Internal, regional, and international political conditions and events can have a profound effect on currency markets.
All exchange rates are susceptible to political instability and anticipations about the new ruling party. Political upheaval and instability can have a negative impact on a nation's economy. For example, destabilization of coalition governments in India, Pakistan and Thailand can negatively affect the value of their currencies. Similarly, in a country experiencing financial difficulties, the rise of a political faction that is perceived to be fiscally responsible can have the opposite effect. Also, events in one country in a region may spur positive or negative interest in a neighboring country and, in the process, affect its currency.
All exchange rates are susceptible to political instability and anticipations about the new ruling party. Political upheaval and instability can have a negative impact on a nation's economy. For example, destabilization of coalition governments in India, Pakistan and Thailand can negatively affect the value of their currencies. Similarly, in a country experiencing financial difficulties, the rise of a political faction that is perceived to be fiscally responsible can have the opposite effect. Also, events in one country in a region may spur positive or negative interest in a neighboring country and, in the process, affect its currency.
Economic factors
These include: (a)economic policy, disseminated by government agencies and central banks, (b)economic conditions, generally revealed through economic reports, and other economic indicators.
1. Economic policy comprises government fiscal policy (budget/spending practices) and monetary policy (the means by which a government's central bank influences the supply and "cost" of money, which is reflected by the level of interest rates).
2. Economic conditions include:
Government budget deficits or surpluses
The market usually reacts negatively to widening government budget deficits, and positively to narrowing budget deficits. The impact is reflected in the value of a country's currency.
Balance of trade levels and trends
The trade flow between countries illustrates the demand for goods and services, which in turn indicates demand for a country's currency to conduct trade. Surpluses and deficits in trade of goods and services reflect the competitiveness of a nation's economy. For example, trade deficits may have a negative impact on a nation's currency.
Inflation levels and trends
Typically a currency will lose value if there is a high level of inflation in the country or if inflation levels are perceived to be rising [. This is because inflation erodes purchasing power, thus demand, for that particular currency. However, a currency may sometimes strengthen when inflation rises because of expectations that the central bank will raise short-term interest rates to combat rising inflation.
Economic growth and health
Reports such as GDP, employment levels, retail sales, capacity utilization and others, detail the levels of a country's economic growth and health. Generally, the more healthy and robust a country's economy, the better its currency will perform, and the more demand for it there will be.
Productivity of an economy
Increasing productivity in an economy should positively influence the value of its currency. It affects are more prominent if the increase is in the traded sector [3].
1. Economic policy comprises government fiscal policy (budget/spending practices) and monetary policy (the means by which a government's central bank influences the supply and "cost" of money, which is reflected by the level of interest rates).
2. Economic conditions include:
Government budget deficits or surpluses
The market usually reacts negatively to widening government budget deficits, and positively to narrowing budget deficits. The impact is reflected in the value of a country's currency.
Balance of trade levels and trends
The trade flow between countries illustrates the demand for goods and services, which in turn indicates demand for a country's currency to conduct trade. Surpluses and deficits in trade of goods and services reflect the competitiveness of a nation's economy. For example, trade deficits may have a negative impact on a nation's currency.
Inflation levels and trends
Typically a currency will lose value if there is a high level of inflation in the country or if inflation levels are perceived to be rising [. This is because inflation erodes purchasing power, thus demand, for that particular currency. However, a currency may sometimes strengthen when inflation rises because of expectations that the central bank will raise short-term interest rates to combat rising inflation.
Economic growth and health
Reports such as GDP, employment levels, retail sales, capacity utilization and others, detail the levels of a country's economic growth and health. Generally, the more healthy and robust a country's economy, the better its currency will perform, and the more demand for it there will be.
Productivity of an economy
Increasing productivity in an economy should positively influence the value of its currency. It affects are more prominent if the increase is in the traded sector [3].
Determinants of FX Rates
The following theories explain the fluctuations in FX rates in a floating exchange rate regime (In a fixed exchange rate regime, FX rates are decided by its government):
(a) International parity conditions viz; purchasing power parity, interest rate parity, Domestic Fisher effect, International Fisher effect. Though to some extent the above theories provide logical explanation for the fluctuations in exchange rates, yet these theories falter as they are based on challengeable assumptions [e.g., free flow of goods, services and capital] which seldom hold true in the real world.
(b) Balance of payments model (see exchange rate). This model, however, focuses largely on tradable goods and services, ignoring the increasing role of global capital flows. It failed to provide any explanation for continuous appreciation of dollar during 1980s and most part of 1990s in face of soaring US current account deficit.
(c) Asset market model (see exchange rate) views currencies as an important asset class for constructing investment portfolios. Assets prices are influenced mostly by people’s willingness to hold the existing quantities of assets, which in turn depends on their expectations on the future worth of these assets. The asset market model of exchange rate determination states that “the exchange rate between two currencies represents the price that just balances the relative supplies of, and demand for, assets denominated in those currencies.”
None of the models developed so far succeed to explain FX rates levels and volatility in the longer time frames. For shorter time frames (less than a few days) algorithm can be devised to predict prices. Large and small institutions and professional individual traders have made consistent profits from it. It is understood from above models that many macroeconomic factors affect the exchange rates and in the end currency prices are a result of dual forces of demand and supply. The world's currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly. No other market encompasses (and distills) as much of what is going on in the world at any given time as foreign exchange.
Supply and demand for any given currency, and thus its value, are not influenced by any single element, but rather by several. These elements generally fall into three categories: economic factors, political conditions and market psychology.
(a) International parity conditions viz; purchasing power parity, interest rate parity, Domestic Fisher effect, International Fisher effect. Though to some extent the above theories provide logical explanation for the fluctuations in exchange rates, yet these theories falter as they are based on challengeable assumptions [e.g., free flow of goods, services and capital] which seldom hold true in the real world.
(b) Balance of payments model (see exchange rate). This model, however, focuses largely on tradable goods and services, ignoring the increasing role of global capital flows. It failed to provide any explanation for continuous appreciation of dollar during 1980s and most part of 1990s in face of soaring US current account deficit.
(c) Asset market model (see exchange rate) views currencies as an important asset class for constructing investment portfolios. Assets prices are influenced mostly by people’s willingness to hold the existing quantities of assets, which in turn depends on their expectations on the future worth of these assets. The asset market model of exchange rate determination states that “the exchange rate between two currencies represents the price that just balances the relative supplies of, and demand for, assets denominated in those currencies.”
None of the models developed so far succeed to explain FX rates levels and volatility in the longer time frames. For shorter time frames (less than a few days) algorithm can be devised to predict prices. Large and small institutions and professional individual traders have made consistent profits from it. It is understood from above models that many macroeconomic factors affect the exchange rates and in the end currency prices are a result of dual forces of demand and supply. The world's currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly. No other market encompasses (and distills) as much of what is going on in the world at any given time as foreign exchange.
Supply and demand for any given currency, and thus its value, are not influenced by any single element, but rather by several. These elements generally fall into three categories: economic factors, political conditions and market psychology.
Trading characteristics
Most traded currencies[2]
Currency distribution of reported FX market turnover Rank Currency ISO 4217 code
(Symbol) % daily share
(April 2007)
1 Flag of the United States United States dollar USD ($) 86.3%
2 Flag of Europe Euro EUR (€) 37.0%
3 Flag of Japan Japanese yen JPY (¥) 17.0%
4 Flag of the United Kingdom Pound sterling GBP (£) 15.0%
5 Flag of Switzerland Swiss franc CHF (Fr) 6.8%
6 Flag of Australia Australian dollar AUD ($) 6.7%
7 Flag of Canada Canadian dollar CAD ($) 4.2%
8-9 Flag of Sweden Swedish krona SEK (kr) 2.8%
8-9 Flag of Hong Kong Hong Kong dollar HKD ($) 2.8%
10 Flag of Norway Norwegian krone NOK (kr) 2.2%
11 Flag of New Zealand New Zealand dollar NZD ($) 1.9%
12 Flag of Mexico Mexican peso MXN ($) 1.3%
13 Flag of Singapore Singapore dollar SGD ($) 1.2%
14 Flag of South Korea South Korean won KRW (₩) 1.1%
Other 14.5%
Total 200%
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. A joint venture of the Chicago Mercantile Exchange and Reuters, called Fxmarketspace opened in 2007 and aspired but failed to the role of a central market clearing mechanism.
The main trading center is London, but New York, Tokyo, Hong Kong and Singapore are all important centers as well. Banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.
Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX is expressed (called base currency). For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.5465 dollar. Out of convention, the first currency in the pair, the base currency, was the stronger currency at the creation of the pair. The second currency, counter currency, was the weaker currency at the creation of the pair.
The factors affecting XXX will affect both XXX/YYY and XXX/ZZZ. This causes positive currency correlation between XXX/YYY and XXX/ZZZ.
On the spot market, according to the BIS study, the most heavily traded products were:
* EUR/USD: 27%
* USD/JPY: 13%
* GBP/USD (also called sterling or cable): 12%
and the US currency was involved in 86.3% of transactions, followed by the euro (37.0%), the yen (17.0%), and sterling (15.0%) (see table). Note that volume percentages should add up to 200%: 100% for all the sellers and 100% for all the buyers.
Trading in the euro has grown considerably since the currency's creation in January 1999, and how long the foreign exchange market will remain dollar-centered is open to debate. Until recently, trading the euro versus a non-European currency ZZZ would have usually involved two trades: EUR/USD and USD/ZZZ. The exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market. As the dollar's value has eroded during 2008, interest in using the euro as reference currency for prices in commodities (such as oil), as well as a larger component of foreign reserves by banks, has increased dramatically. Transactions in the currencies of commodity-producing countries, such as AUD, NZD, CAD, have also increased.
Currency distribution of reported FX market turnover Rank Currency ISO 4217 code
(Symbol) % daily share
(April 2007)
1 Flag of the United States United States dollar USD ($) 86.3%
2 Flag of Europe Euro EUR (€) 37.0%
3 Flag of Japan Japanese yen JPY (¥) 17.0%
4 Flag of the United Kingdom Pound sterling GBP (£) 15.0%
5 Flag of Switzerland Swiss franc CHF (Fr) 6.8%
6 Flag of Australia Australian dollar AUD ($) 6.7%
7 Flag of Canada Canadian dollar CAD ($) 4.2%
8-9 Flag of Sweden Swedish krona SEK (kr) 2.8%
8-9 Flag of Hong Kong Hong Kong dollar HKD ($) 2.8%
10 Flag of Norway Norwegian krone NOK (kr) 2.2%
11 Flag of New Zealand New Zealand dollar NZD ($) 1.9%
12 Flag of Mexico Mexican peso MXN ($) 1.3%
13 Flag of Singapore Singapore dollar SGD ($) 1.2%
14 Flag of South Korea South Korean won KRW (₩) 1.1%
Other 14.5%
Total 200%
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. A joint venture of the Chicago Mercantile Exchange and Reuters, called Fxmarketspace opened in 2007 and aspired but failed to the role of a central market clearing mechanism.
The main trading center is London, but New York, Tokyo, Hong Kong and Singapore are all important centers as well. Banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.
Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX is expressed (called base currency). For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.5465 dollar. Out of convention, the first currency in the pair, the base currency, was the stronger currency at the creation of the pair. The second currency, counter currency, was the weaker currency at the creation of the pair.
The factors affecting XXX will affect both XXX/YYY and XXX/ZZZ. This causes positive currency correlation between XXX/YYY and XXX/ZZZ.
On the spot market, according to the BIS study, the most heavily traded products were:
* EUR/USD: 27%
* USD/JPY: 13%
* GBP/USD (also called sterling or cable): 12%
and the US currency was involved in 86.3% of transactions, followed by the euro (37.0%), the yen (17.0%), and sterling (15.0%) (see table). Note that volume percentages should add up to 200%: 100% for all the sellers and 100% for all the buyers.
Trading in the euro has grown considerably since the currency's creation in January 1999, and how long the foreign exchange market will remain dollar-centered is open to debate. Until recently, trading the euro versus a non-European currency ZZZ would have usually involved two trades: EUR/USD and USD/ZZZ. The exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market. As the dollar's value has eroded during 2008, interest in using the euro as reference currency for prices in commodities (such as oil), as well as a larger component of foreign reserves by banks, has increased dramatically. Transactions in the currencies of commodity-producing countries, such as AUD, NZD, CAD, have also increased.
Money Transfer/Remittance Companies
Money transfer/remittance companies perform high-volume low-value transfers generally by economic migrants back to their home country. In 2007, the Aite Group estimated that there were $369 billion of remittances (an increase of 8% on the previous year). The four largest markets (India, China, Mexico and the Philippines) receive $95 billion. The largest and best known provider is Western Union with 345,000 agents globally.
Non-bank Foreign Exchange Companies
Non-bank foreign exchange companies offer currency exchange and international payments to private individuals and companies. These are also known as foreign exchange brokers but are distinct in that they do not offer speculative trading but currency exchange with payments. I.e., there is usually a physical delivery of currency to a bank account.
It is estimated that in the UK, 14% of currency transfers/payments[10] are made via Foreign Exchange Companies.[11] These companies' selling point is usually that they will offer better exchange rates or cheaper payments than the customer's bank. These companies differ from Money Transfer/Remittance Companies in that they generally offer higher-value services.
It is estimated that in the UK, 14% of currency transfers/payments[10] are made via Foreign Exchange Companies.[11] These companies' selling point is usually that they will offer better exchange rates or cheaper payments than the customer's bank. These companies differ from Money Transfer/Remittance Companies in that they generally offer higher-value services.
Retail foreign exchange brokers
There are two types of retail brokers offering the opportunity for speculative trading: retail foreign exchange brokers and market makers. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks. Retail brokers, while largely controlled and regulated by the CFTC and NFA might be subject to foreign exchange scams.[8][9] At present, the NFA and CFTC are imposing stricter requirements, particularly in relation to the amount of Net Capitalization required of its members. As a result many of the smaller, and perhaps questionable brokers are now gone. It is not widely understood that retail brokers and market makers typically trade against their clients and frequently take the other side of their trades. This can often create a potential conflict of interest and give rise to some of the unpleasant experiences some traders have had. A move toward NDD (No Dealing Desk) and STP (Straight Through Processing) has helped to resolve some of these concerns and restore trader confidence, but caution is still advised in ensuring that all is as it is presented.
Investment management firms
Investment management firms (who typically manage large accounts on behalf of customers such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager bearing an international equity portfolio needs to purchase and sell several pairs of foreign currencies to pay for foreign securities purchases.
Some investment management firms also have more speculative specialist currency overlay operations, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. Whilst the number of this type of specialist firms is quite small, many have a large value of assets under management (AUM), and hence can generate large trades.
Some investment management firms also have more speculative specialist currency overlay operations, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. Whilst the number of this type of specialist firms is quite small, many have a large value of assets under management (AUM), and hence can generate large trades.
Hedge funds as speculators
About 70% to 90% of the foreign exchange transactions are speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency. Hedge funds have gained a reputation for aggressive currency speculation since 1996. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Central banks
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves to stabilize the market. Milton Friedman argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high—that is, to trade for a profit based on their more precise information. Nevertheless, the effectiveness of central bank "stabilizing speculation" is doubtful because central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives. The combined resources of the market can easily overwhelm any central bank.[7] Several scenarios of this nature were seen in the 1992–93 ERM collapse, and in more recent times in Southeast Asia.
The mere expectation or rumor of central bank intervention might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a dirty float currency regime. Central banks do not always achieve their objectives. The combined resources of the market can easily overwhelm any central bank.[7] Several scenarios of this nature were seen in the 1992–93 ERM collapse, and in more recent times in Southeast Asia.
Commercial companies
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.
Banks
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems. The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems. The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.
Market participants
Unlike a stock market, where all participants have access to the same prices, the foreign exchange market is divided into levels of access. At the top is the inter-bank market, which is made up of the largest investment banking firms. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and usually unavailable, and not known to players outside the inner circle. The difference between the bid and ask prices widens (from 0-1 pip to 1-2 pips for some currencies such as the EUR). This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to as a better spread. The levels of access that make up the foreign exchange market are determined by the size of the “line” (the amount of money with which they are trading). The top-tier inter-bank market accounts for 53% of all transactions. After that there are usually smaller investment banks, followed by large multi-national corporations (which need to hedge risk and pay employees in different countries), large hedge funds, and even some of the retail FX-metal market makers. According to Galati and Melvin, “Pension funds, insurance companies, mutual funds, and other institutional investors have played an increasingly important role in financial markets in general, and in FX markets in particular, since the early 2000s.” (2004) In addition, he notes, “Hedge funds have grown markedly over the 2001–2004 period in terms of both number and overall size” Central banks also participate in the foreign exchange market to align currencies to their economic needs.
Market size and liquidity
The foreign exchange market is unique because of
* its trading volumes,
* the extreme liquidity of the market,
* its geographical dispersion,
* its long trading hours: 24 hours a day except on weekends (from 22:00 UTC on Sunday until 22:00 UTC Friday),
* the variety of factors that affect exchange rates.
* the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
* the use of leverage
Main foreign exchange market turnover, 1988 - 2007, measured in billions of USD.
As such, it has been referred to as the market closest to the ideal perfect competition, notwithstanding market manipulation by central banks. According to the Bank for International Settlements,[2] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion. Trading in the world's main financial markets accounted for $3.21 trillion of this. This approximately $3.21 trillion in main foreign exchange market turnover was broken down as follows:
* $1.005 trillion in spot transactions
* $362 billion in outright forwards
* $1.714 trillion in foreign exchange swaps
* $129 billion estimated gaps in reporting
Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York accounted for 16.6%, and Tokyo accounted for 6.0%.[4] In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts.
Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account.
FX futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 currency traders [5]
% of overall volume, May 2008 Rank Name Volume
1 Flag of Germany Deutsche Bank 21.70%
2 Flag of Switzerland UBS AG 15.80%
3 Flag of the United Kingdom Barclays Capital 9.12%
4 Flag of the United States Citi 7.49%
5 Flag of the United Kingdom Royal Bank of Scotland 7.30%
6 Flag of the United States JPMorgan 4.19%
7 Flag of the United Kingdom HSBC 4.10%
8 Flag of the United States Lehman Brothers 3.58%
9 Flag of the United States Goldman Sachs 3.47%
10 Flag of the United States Morgan Stanley 2.86%
Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues have made it easier for retail traders to trade in the foreign exchange market. In 2006, retail traders constituted over 2% of the whole FX market volumes with an average daily trade volume of over US$50-60 billion (see retail trading platforms).[6] Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 34.1% in April 2007. The ten most active traders account for almost 80% of trading volume, according to the 2008 Euromoney FX survey.[3] These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of base currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100/1.2300 for transfers, or say 1.2000/1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e., 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
* its trading volumes,
* the extreme liquidity of the market,
* its geographical dispersion,
* its long trading hours: 24 hours a day except on weekends (from 22:00 UTC on Sunday until 22:00 UTC Friday),
* the variety of factors that affect exchange rates.
* the low margins of profit compared with other markets of fixed income (but profits can be high due to very large trading volumes)
* the use of leverage
Main foreign exchange market turnover, 1988 - 2007, measured in billions of USD.
As such, it has been referred to as the market closest to the ideal perfect competition, notwithstanding market manipulation by central banks. According to the Bank for International Settlements,[2] average daily turnover in global foreign exchange markets is estimated at $3.98 trillion. Trading in the world's main financial markets accounted for $3.21 trillion of this. This approximately $3.21 trillion in main foreign exchange market turnover was broken down as follows:
* $1.005 trillion in spot transactions
* $362 billion in outright forwards
* $1.714 trillion in foreign exchange swaps
* $129 billion estimated gaps in reporting
Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York accounted for 16.6%, and Tokyo accounted for 6.0%.[4] In addition to "traditional" turnover, $2.1 trillion was traded in derivatives.
Exchange-traded FX futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts.
Several other developed countries also permit the trading of FX derivative products (like currency futures and options on currency futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Most emerging countries do not permit FX derivative products on their exchanges in view of prevalent controls on the capital accounts. However, a few select emerging countries (e.g., Korea, South Africa, India—[1]; [2]) have already successfully experimented with the currency futures exchanges, despite having some controls on the capital account.
FX futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).
Top 10 currency traders [5]
% of overall volume, May 2008 Rank Name Volume
1 Flag of Germany Deutsche Bank 21.70%
2 Flag of Switzerland UBS AG 15.80%
3 Flag of the United Kingdom Barclays Capital 9.12%
4 Flag of the United States Citi 7.49%
5 Flag of the United Kingdom Royal Bank of Scotland 7.30%
6 Flag of the United States JPMorgan 4.19%
7 Flag of the United Kingdom HSBC 4.10%
8 Flag of the United States Lehman Brothers 3.58%
9 Flag of the United States Goldman Sachs 3.47%
10 Flag of the United States Morgan Stanley 2.86%
Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues have made it easier for retail traders to trade in the foreign exchange market. In 2006, retail traders constituted over 2% of the whole FX market volumes with an average daily trade volume of over US$50-60 billion (see retail trading platforms).[6] Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 34.1% in April 2007. The ten most active traders account for almost 80% of trading volume, according to the 2008 Euromoney FX survey.[3] These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of base currency, which is a standard "lot".
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100/1.2300 for transfers, or say 1.2000/1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e., 0.0003). Competition is greatly increased with larger transactions, and pip spreads shrink on the major pairs to as little as 1 to 2 pips.
Monday, March 9, 2009
Random-access memory
RAM is a form of computer data storage. Today it takes the form of integrated circuits that allows the stored data to be accessed in any order (i.e., at random). The word random thus refers to the fact that any piece of data can be returned in a constant time, regardless of its physical location and whether or not it is related to the previous piece of data.[1]
This contrasts with storage mechanisms such as tapes, magnetic discs and optical discs, which rely on the physical movement of the recording medium or a reading head. In these devices, the movement takes longer than the data transfer, and the retrieval time varies depending on the physical location of the next item.
The word RAM is mostly associated with volatile types of memory (such as DRAM memory modules), where the information is lost after the power is switched off. However, many other types of memory are RAM as well (i.e., Random Access Memory), including most types of ROM and a kind of flash memory called NOR-Flash.
This contrasts with storage mechanisms such as tapes, magnetic discs and optical discs, which rely on the physical movement of the recording medium or a reading head. In these devices, the movement takes longer than the data transfer, and the retrieval time varies depending on the physical location of the next item.
The word RAM is mostly associated with volatile types of memory (such as DRAM memory modules), where the information is lost after the power is switched off. However, many other types of memory are RAM as well (i.e., Random Access Memory), including most types of ROM and a kind of flash memory called NOR-Flash.
Sunday, March 1, 2009
Forex Online Training Courses
FOREX.com's comprehensive online training courses allow
you the flexibility and convenience to learn at your own pace.
Self-study course
This online course is ideal for students who want a quick introduction to forex.
Seven web-based lessons will teach you.
Basic terms and concepts, like pips, major and minor currency pairs.
How to develop a personal trading plan using the tools and resources available.
Instructor-led course
Learn forex essentials plus trading strategies, and tips for intelligent risk management.
Study on your own online and benefit from access to a dedicated Forex instructor. You'll learn how:
To anticipate and react to major announcements and events.
To recognize trading patterns and detect trading opportunities more effectively using technical tools.
Core risk management concepts and strategies.
you the flexibility and convenience to learn at your own pace.
Self-study course
This online course is ideal for students who want a quick introduction to forex.
Seven web-based lessons will teach you.
Basic terms and concepts, like pips, major and minor currency pairs.
How to develop a personal trading plan using the tools and resources available.
Instructor-led course
Learn forex essentials plus trading strategies, and tips for intelligent risk management.
Study on your own online and benefit from access to a dedicated Forex instructor. You'll learn how:
To anticipate and react to major announcements and events.
To recognize trading patterns and detect trading opportunities more effectively using technical tools.
Core risk management concepts and strategies.
IBFX
About IBFX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX) is a leading provider of online forex trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade spot foreign currency online.
Unlike other retail FX brokers, IBFX has distinguished itself as an industry leader with its unique "no dealing desk" agency model, proprietary tools and services, and focus on customer care. This has led to longer term and more profitable relationships and has also manifested itself in the numerous awards and industry accolades that IBFX has compiled. The recognition includes Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
Interbank FX serves clients from more than 140 countries and supports trading volume in excess of US$70 billion per month. The company is regulated as a Forex Dealer Member by the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant.
3165 Millrock Drive
STE 200
Salt Lake City, UT 84121-4732
Driving Directions (printer friendly)
Toll Free:
US and Canada: 866.468.3739
Australia 1.800.884.912
Indonesia 001.803.017.9112
Malaysia 1.800.813.776
New Zealand 0800.445647
Singapore 800.101.2097
United Kingdom 0.808.120.1966
International: +1.801.930.6800
Fax: 212.884.0609
Account Funding
DEPOSIT FUNDS INTO YOUR TRADING ACCOUNT INSTANTLY* The fastest and easiest way to fund your account is with a credit card. To make a transfer with a credit card, login to My FXCLUB and click on "Deposit Funds" in the menu. Processing fee for credit card payments is from 2.24% to 2.59% depending on a credit card. If you make a deposit before the closing of a weekly trading session, the money will reach your account immediately, as long as your transaction clears. The end of a weekly trading session occurs at 21:00 GMT on Fridays, except for the holidays.
Login to MY FXCLUB
--------------------------------------------------------------------------------
ALTERNATIVE PAYMENT OPTIONS
We accept other popular payment types, but they are not instant.
PayPal
PayPal deposits are processed within 1-3 business days. Processing fees: 2.9%+ $0.30 (e.g., when sending $1,000, your fees would be up to $29.30).
Bank Wires
Funds sent via bank wire will be deposited to your trading account as soon as they reach our bank. Forex Club does not charge any fees and it is not responsible for any fees charged by processing banks, which usually range between $15 and $30 depending on commissions charged by correspondent banks.
Checks
US customers may fund their accounts using checks. Such deposits will not be processed until the funds clear our bank. Checks should be sent to:
Forex Club Financial Company
1200 South Ave. Suite 203
Staten Island, NY 10309
--------------------------------------------------------------------------------
Notes:
Processing time may be prolonged due to national holidays.
Forex Club does not process any Third Party transactions or payments from blocked countries, under any circumstances.
Forex Club will process withdrawals within one business day upon receipt of request.
Forex Club is not responsible for any delays in transactions caused by processing banks.
Login to MY FXCLUB
--------------------------------------------------------------------------------
ALTERNATIVE PAYMENT OPTIONS
We accept other popular payment types, but they are not instant.
PayPal
PayPal deposits are processed within 1-3 business days. Processing fees: 2.9%+ $0.30 (e.g., when sending $1,000, your fees would be up to $29.30).
Bank Wires
Funds sent via bank wire will be deposited to your trading account as soon as they reach our bank. Forex Club does not charge any fees and it is not responsible for any fees charged by processing banks, which usually range between $15 and $30 depending on commissions charged by correspondent banks.
Checks
US customers may fund their accounts using checks. Such deposits will not be processed until the funds clear our bank. Checks should be sent to:
Forex Club Financial Company
1200 South Ave. Suite 203
Staten Island, NY 10309
--------------------------------------------------------------------------------
Notes:
Processing time may be prolonged due to national holidays.
Forex Club does not process any Third Party transactions or payments from blocked countries, under any circumstances.
Forex Club will process withdrawals within one business day upon receipt of request.
Forex Club is not responsible for any delays in transactions caused by processing banks.
Webinars
FOREX.com's webinar series delivers hands-on training,
demonstrations & techniques specifically developed for
anyone actively trading the Forex market.
Register now for Getting Started in Forex.
Attend a Local Workshop
Upcoming Webinars:
Each live session provides instruction, demonstration and discussion, followed up by a Q&A with the speaker. We encourage all attendees to interact with the speaker and ask questions that are important to you.
Event Date
Weekly Market Call with Brian Dolan (45 mins)
Join Brian Dolan, FOREX.com's Chief Currency Strategist, as he prepares you for the upcoming trading week. Get a grasp on this week's economic data and learn how the markets may react. Every Monday
9:00 AM ET More Info
Getting Started in Forex (45 mins)
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market. Tuesday and Thursday
1:00 & 9:00 PM ET More Info
Introduction to Support and Resistance (45 mins)
Learn how to identify levels of support and resistance across a multitude of chart timeframes and see how you can use this information to develop an entry and exit strategy for trading currencies. Every Wednesday
4:30PM ET More Info
Identifying Trading Opportunities: Live Market Analysis (60 mins)
Join one of FOREX.com's Market Strategists for an in-depth look at current market conditions and learn how to develop a trading strategy that incorporates both current technical and fundamental data. Every Thursday
4:30 PM ET More Info
Introduction to the FOREXTrader Trading Platform (30 mins)
Learn how to place orders, manage positions, and access research with an
in-depth overview of the FOREXTrader trading platform. Every Friday
12:00 PM ET More Info
demonstrations & techniques specifically developed for
anyone actively trading the Forex market.
Register now for Getting Started in Forex.
Attend a Local Workshop
Upcoming Webinars:
Each live session provides instruction, demonstration and discussion, followed up by a Q&A with the speaker. We encourage all attendees to interact with the speaker and ask questions that are important to you.
Event Date
Weekly Market Call with Brian Dolan (45 mins)
Join Brian Dolan, FOREX.com's Chief Currency Strategist, as he prepares you for the upcoming trading week. Get a grasp on this week's economic data and learn how the markets may react. Every Monday
9:00 AM ET More Info
Getting Started in Forex (45 mins)
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market. Tuesday and Thursday
1:00 & 9:00 PM ET More Info
Introduction to Support and Resistance (45 mins)
Learn how to identify levels of support and resistance across a multitude of chart timeframes and see how you can use this information to develop an entry and exit strategy for trading currencies. Every Wednesday
4:30PM ET More Info
Identifying Trading Opportunities: Live Market Analysis (60 mins)
Join one of FOREX.com's Market Strategists for an in-depth look at current market conditions and learn how to develop a trading strategy that incorporates both current technical and fundamental data. Every Thursday
4:30 PM ET More Info
Introduction to the FOREXTrader Trading Platform (30 mins)
Learn how to place orders, manage positions, and access research with an
in-depth overview of the FOREXTrader trading platform. Every Friday
12:00 PM ET More Info
What's Forex?
"Forex" stands for foreign exchange; it's also known as FX. In a forex trade, you buy one currency while simultaneously selling another - that is, you're exchanging the sold currency for the one you're buying. The foreign exchange market is an over-the-counter market.
Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there's no centralized exchange for forex. All transactions happen via phone or electronic network.
Who trades currencies, and why?
Daily turnover in the world's currencies comes from two sources:
Foreign trade (5%). Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency.
Speculation for profit (95%).
Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.
The world's most traded market, trading 24 hours a day
With average daily turnover of US$3.2 trillion, forex is the most traded market in the world.
A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET, forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.
Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night.
More Info
Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there's no centralized exchange for forex. All transactions happen via phone or electronic network.
Who trades currencies, and why?
Daily turnover in the world's currencies comes from two sources:
Foreign trade (5%). Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency.
Speculation for profit (95%).
Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.
The world's most traded market, trading 24 hours a day
With average daily turnover of US$3.2 trillion, forex is the most traded market in the world.
A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET, forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.
Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night.
More Info
ClassicFX
ClassicFX
Powerful trading platform for serious traders.
ClassicFX is designed for experienced traders. It offers one of the best technical and analytical tools at hand, including live and historic quotes, advanced charting, market orders, alerts, and integrated market news. Learn more
Powerful trading platform for serious traders.
ClassicFX is designed for experienced traders. It offers one of the best technical and analytical tools at hand, including live and historic quotes, advanced charting, market orders, alerts, and integrated market news. Learn more
ExpressFX
ExpressFX
Our brand-new trading platform is a great way to start on Forex.
Its built-in wizard will show you how to make trades, to 'limit losses' and to 'take profits.' You will learn what Forex trading is all about in just few minutes.
With this unique platform we have simplified Forex trading in a way not seen before. We eliminated complex terms and concepts so you can forget about 'spreads,' 'swaps,' 're-quotes' and etc.
Experience the advantages of 'zero-spread' trading and commission refunds on non-profitable trades. Try ExpressFX today.
Supported languages: English, Chinese
Portuguese, Russian
--------------------------------------------------------------------------------
Our brand-new trading platform is a great way to start on Forex.
Its built-in wizard will show you how to make trades, to 'limit losses' and to 'take profits.' You will learn what Forex trading is all about in just few minutes.
With this unique platform we have simplified Forex trading in a way not seen before. We eliminated complex terms and concepts so you can forget about 'spreads,' 'swaps,' 're-quotes' and etc.
Experience the advantages of 'zero-spread' trading and commission refunds on non-profitable trades. Try ExpressFX today.
Supported languages: English, Chinese
Portuguese, Russian
--------------------------------------------------------------------------------
New to the Forex market?
New to the Forex market? Discover the full breadth of our offering
We've worked hard to distill our collective trading experience into an approach suitable for all skill levels.
Step 1: Understand the FOREX market.
Dive into Forex 101 for a compact overview of the basics or sit back and join us at one of our live interactive webinars.
Step 2: Prepare to trade in a live environment.
Register for one of our training courses and study at your own pace or join us at a local workshop, where our experienced instructors can teach you in a dynamic classroom setting.
Step 3: Test your skills risk free.
Sharpen your technical analysis techniques with a free 30 day practice account.
forex contest
“Participants” are IBFX Live Mini Account holders who register for the “IBFX Mini Challenge.” “Contest Period” refers to the time between the beginning time and closing time of the trading period that is tracked for the purposes of calculating Contest winners. “Round” is also used to refer to this time period.
The IBFX Mini Challenge ("Contest") is open to new and existing IBFX Mini Account clients. Only one entry per account holder or Participant is permitted. A Participant is only permitted one mini account to be registered in the contest at a time. This one trading account can only be entered in the contest one time for a contest Period. If the account is a joint account, then only one account holder can enter the account in the contest per Round. Participants must close a minimum of 10 (ten) trades per Round. Failure to close 10 (ten) trades during the contest period will result in disqualification. Qualifying Mini Accounts must be at least a full trading day old before they are eligible to be entered in any given month’s contest.
The contest will begin on the first weekday of each month, and will end on the 25th of each month or the last weekday before the 25th of each month if the 25th is not a weekday. Daily contest results are calculated using the eligible registered account's daily activity reports. Daily activity reports are generated at approximately 5:00pm eastern time USA. Participants must be enrolled in any given contest period before 2:00am EST on the 1st of the month.
There is NO entry fee required.
Each month, the top five performers, based on percentage gain, ("Winners") will be awarded the following cash prizes
("Prize"):
1st $3,000.00
2nd $1,500.00
3rd $750.00
4th $500.00
5th $250.00
In the event of a tie the available award will be equally divided between winners. Refer to the section: PRIZE AWARDS IN THE EVENT OF A TIE below.
Eligibility
Individuals who are at least 18 years of age (or the age of majority in their state or other jurisdiction of residence) and who have a live IBFX Mini Account ("Mini Account") with a minimum equity of US $250.00 funded by 4:59 PM ET the last weekday of the month prior to the contest period are eligible to participate in the Contest ("Contest"). Demo Accounts and regular accounts are not eligible for this contest. Master accounts and Sub Accounts are not eligible for this Contest. It is the participant’s responsibility to register the correct account. If an ineligible account is registered, that account will be disqualified and is not eligible to receive prizes or awards. If an account is entered more than one time then all entries of that account will be disqualified. If the account registered for the contest is disabled for any reason you will be withdrawn from the contest and auto-enroll will be turned off.
To be eligible for participation, all Participants agree to have their trading record published and or distributed by IBFX, its agents, and successors during and after the life of the contest. If the Participant chooses not to release his/her trading record he/she will not receive the prize money.
Funds may not be funded into or withdrawn from the account taking part in the contest during the duration of each Contest Period. Deposits and/or withdrawals can be made between the end of the contest period and the last weekday of the month prior to the new contest period. A deposit or withdrawal into or from your contest account during the contest period will cause a withdrawal from that month’s contest. Trade Tickets are not considered a deposit or withdrawal and will not withdraw the Participant from the Contest.
A minimum of 10 (ten) closed trades most be completed during the contest period to be eligible to win. Trades that occur after 00:00 GMT on the 1st trading day of the new month are considered in the contest. Trades that occur at or after 5:00pm EST on the last day of the contest period will not be considered in the results.
Employees of Sponsor, its subsidiaries, affiliates, suppliers or their immediate families are not eligible. Persons employed by a firm whose principal business is online foreign exchange trading its subsidiaries, affiliates or their immediate families are not eligible. By entering, Participant agrees to abide by these Official Rules and the decisions of the Sponsor, which are final and binding.
Determination of Winners
On the last day of each Round, all Participant Accounts will be marked to market at approximately 5:00 p.m. ET to determine the closing equity (P&L) percentage. Open positions need not be liquidated for purposes of determining the Winners. The final percentage gain for each Participant will be determined by the following formula and will determine the winner of the contest:
((EE - MSE) / MSE) * 100)= Monthly Percentage gain or loss
where EE = ending equity
where MSE = monthly starting equity
results are rounded to three decimal points after multiplying by 100
Each trading day the daily gains and losses to that point in the contest period is calculated to present daily standings using the following formula, this information is for information only and does not determine the winner of the contest:
((EE - DSE) / DSE) * 100)= Daily Percentage gain or loss
where EE = ending equity
where DSE = daily ending equity
results are rounded to three decimal points after multiplying by 100
The five Participants with the highest percentage gain during each Round will be named the Winners and awarded cash prizes. Winners may withdraw their Prize at any time, however, if it is withdrawn from their contest account during a registered round of the contest, the person will be withdrawn from that session of the contest.
All taxes related to the Prize are the sole responsibility of the winners.
At the start of each month, the contest standings are reset all eligible Participants have an opportunity to compete in the next month contest period.
Winner Notification
Winners will be notified by email to the email address of record. Winners' names and trading results will be posted to our website at www.ibfx.com.
Method of Payment of Award
Awards will be deposited into the winners’ accounts during the break between the contests of the following months. Month 1 winners will receive their award during the break between month 2 and month 3 contest periods.
Prize Awards in the Event of a Tie
In the event of a tie, the prize value will be split equally amongst the tied Participants. For example: If three people tie for 1st place then the awards for 1st , 2nd and 3rd place are combined and divided equally. If two people tie for 2nd place, then the awards for 2nd and 3rd are combined and divided equally. If 1st and 2nd place had only one winner but 3rd place has four, then 3rd, 4th and 5th place prizes is divided between the four winners tied at 3rd place. These examples are not meant to be a comprehensive description of all possible scenarios, but rather, representative of a limited set of the many possible scenarios. Participants agree that winners, prize awards and division of prize awards will be decided by IBFX and that all decisions are final.
Miscellaneous
The Contest is subject to all applicable laws in the United States. Void where prohibited or restricted by law.
Inquiries, Disputes, Appeals
All other inquiries, disputes, appeals, questions, petitions, and problems will be evaluated by IBFX and final decisions will be considered binding and satisfactory. IBFX, in its sole discretion, determines what action is reasonable or necessary. All decisions are final. Participants agree that any and all claims, disputes and causes of action arising out of or related to the Contest shall be resolved, without resort to any form of class action, exclusively by the appropriate courts in Salt Lake County, Utah, in accordance with the laws of the State of Utah, without giving effect to conflict of law rules which would cause the application of the laws of any other jurisdiction.
IBFX has sole discretion to disqualify any Participant found in violation of the rules of the Contest or applying inappropriate trading strategies.
IBFX shall not be responsible for any delays in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond their reasonable control or anticipation.
IBFX, in its sole discretion, may prohibit Entrants from participating in the Contest and disqualify entries if they attempt to enter the Contest through means not described in the rules, misrepresent themselves in any way on their IBFX trading application, attempt to disrupt the Contest or circumvent the rules, or act in an un-sportsmanlike manner or with intent to annoy or harass any other Participant(s) or Sponsor(s). IBFX reserves the right to amend, waive or interpret any rule in its sole discretion when doing so would be in the best interests of the contest. IBFX reserves the right to shorten or extend the Contest period or to cancel the contest if IBFX, in it its sole discretion, determines that such action is reasonable or necessary. All decisions are final. IBFX makes no warranty, representation or guarantee, express or implied, in fact or in law, relative to the use of the Contest prize including, but not limited to, quality, merchantability or fitness for a particular prize.
Under no circumstances will IBFX or any affiliated persons or entities be liable for: (1) electronic, computer, telephone, network, internet or other technical or human error(s) which may occur in connection with the Contest; (2) any injury or damage to person or property, which may be caused, directly or indirectly, from participation or attempted participation in the Contest; (3) illegitimate entries (which will be disqualified); (4) punitive, indirect, incidental or consequential damages.
IBFX reserves the right to; extend the trading period, to postpone the starting date until after the first of each month, choose not to display daily results and standings, or to cancel the contest if IBFX, in its sole discretion, determines that such action is reasonable or necessary. IBFX, in its sole discretion, may reject any Participant’s application for any reason.
Risk Disclosure
This Contest requires Participants to open and fund an IBFX mini trading account. Before deciding to participate in the Contest, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any foreign exchange transaction. Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds. There are also risks associated with utilizing an internet-based deal execution software application including, but not limited, to the failure of hardware and software.
Current Standings
Register
Contest Rules
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
The IBFX Mini Challenge ("Contest") is open to new and existing IBFX Mini Account clients. Only one entry per account holder or Participant is permitted. A Participant is only permitted one mini account to be registered in the contest at a time. This one trading account can only be entered in the contest one time for a contest Period. If the account is a joint account, then only one account holder can enter the account in the contest per Round. Participants must close a minimum of 10 (ten) trades per Round. Failure to close 10 (ten) trades during the contest period will result in disqualification. Qualifying Mini Accounts must be at least a full trading day old before they are eligible to be entered in any given month’s contest.
The contest will begin on the first weekday of each month, and will end on the 25th of each month or the last weekday before the 25th of each month if the 25th is not a weekday. Daily contest results are calculated using the eligible registered account's daily activity reports. Daily activity reports are generated at approximately 5:00pm eastern time USA. Participants must be enrolled in any given contest period before 2:00am EST on the 1st of the month.
There is NO entry fee required.
Each month, the top five performers, based on percentage gain, ("Winners") will be awarded the following cash prizes
("Prize"):
1st $3,000.00
2nd $1,500.00
3rd $750.00
4th $500.00
5th $250.00
In the event of a tie the available award will be equally divided between winners. Refer to the section: PRIZE AWARDS IN THE EVENT OF A TIE below.
Eligibility
Individuals who are at least 18 years of age (or the age of majority in their state or other jurisdiction of residence) and who have a live IBFX Mini Account ("Mini Account") with a minimum equity of US $250.00 funded by 4:59 PM ET the last weekday of the month prior to the contest period are eligible to participate in the Contest ("Contest"). Demo Accounts and regular accounts are not eligible for this contest. Master accounts and Sub Accounts are not eligible for this Contest. It is the participant’s responsibility to register the correct account. If an ineligible account is registered, that account will be disqualified and is not eligible to receive prizes or awards. If an account is entered more than one time then all entries of that account will be disqualified. If the account registered for the contest is disabled for any reason you will be withdrawn from the contest and auto-enroll will be turned off.
To be eligible for participation, all Participants agree to have their trading record published and or distributed by IBFX, its agents, and successors during and after the life of the contest. If the Participant chooses not to release his/her trading record he/she will not receive the prize money.
Funds may not be funded into or withdrawn from the account taking part in the contest during the duration of each Contest Period. Deposits and/or withdrawals can be made between the end of the contest period and the last weekday of the month prior to the new contest period. A deposit or withdrawal into or from your contest account during the contest period will cause a withdrawal from that month’s contest. Trade Tickets are not considered a deposit or withdrawal and will not withdraw the Participant from the Contest.
A minimum of 10 (ten) closed trades most be completed during the contest period to be eligible to win. Trades that occur after 00:00 GMT on the 1st trading day of the new month are considered in the contest. Trades that occur at or after 5:00pm EST on the last day of the contest period will not be considered in the results.
Employees of Sponsor, its subsidiaries, affiliates, suppliers or their immediate families are not eligible. Persons employed by a firm whose principal business is online foreign exchange trading its subsidiaries, affiliates or their immediate families are not eligible. By entering, Participant agrees to abide by these Official Rules and the decisions of the Sponsor, which are final and binding.
Determination of Winners
On the last day of each Round, all Participant Accounts will be marked to market at approximately 5:00 p.m. ET to determine the closing equity (P&L) percentage. Open positions need not be liquidated for purposes of determining the Winners. The final percentage gain for each Participant will be determined by the following formula and will determine the winner of the contest:
((EE - MSE) / MSE) * 100)= Monthly Percentage gain or loss
where EE = ending equity
where MSE = monthly starting equity
results are rounded to three decimal points after multiplying by 100
Each trading day the daily gains and losses to that point in the contest period is calculated to present daily standings using the following formula, this information is for information only and does not determine the winner of the contest:
((EE - DSE) / DSE) * 100)= Daily Percentage gain or loss
where EE = ending equity
where DSE = daily ending equity
results are rounded to three decimal points after multiplying by 100
The five Participants with the highest percentage gain during each Round will be named the Winners and awarded cash prizes. Winners may withdraw their Prize at any time, however, if it is withdrawn from their contest account during a registered round of the contest, the person will be withdrawn from that session of the contest.
All taxes related to the Prize are the sole responsibility of the winners.
At the start of each month, the contest standings are reset all eligible Participants have an opportunity to compete in the next month contest period.
Winner Notification
Winners will be notified by email to the email address of record. Winners' names and trading results will be posted to our website at www.ibfx.com.
Method of Payment of Award
Awards will be deposited into the winners’ accounts during the break between the contests of the following months. Month 1 winners will receive their award during the break between month 2 and month 3 contest periods.
Prize Awards in the Event of a Tie
In the event of a tie, the prize value will be split equally amongst the tied Participants. For example: If three people tie for 1st place then the awards for 1st , 2nd and 3rd place are combined and divided equally. If two people tie for 2nd place, then the awards for 2nd and 3rd are combined and divided equally. If 1st and 2nd place had only one winner but 3rd place has four, then 3rd, 4th and 5th place prizes is divided between the four winners tied at 3rd place. These examples are not meant to be a comprehensive description of all possible scenarios, but rather, representative of a limited set of the many possible scenarios. Participants agree that winners, prize awards and division of prize awards will be decided by IBFX and that all decisions are final.
Miscellaneous
The Contest is subject to all applicable laws in the United States. Void where prohibited or restricted by law.
Inquiries, Disputes, Appeals
All other inquiries, disputes, appeals, questions, petitions, and problems will be evaluated by IBFX and final decisions will be considered binding and satisfactory. IBFX, in its sole discretion, determines what action is reasonable or necessary. All decisions are final. Participants agree that any and all claims, disputes and causes of action arising out of or related to the Contest shall be resolved, without resort to any form of class action, exclusively by the appropriate courts in Salt Lake County, Utah, in accordance with the laws of the State of Utah, without giving effect to conflict of law rules which would cause the application of the laws of any other jurisdiction.
IBFX has sole discretion to disqualify any Participant found in violation of the rules of the Contest or applying inappropriate trading strategies.
IBFX shall not be responsible for any delays in the acceptance or transmission of orders due to a breakdown or failure of transmission or communication facilities, or for any other cause beyond their reasonable control or anticipation.
IBFX, in its sole discretion, may prohibit Entrants from participating in the Contest and disqualify entries if they attempt to enter the Contest through means not described in the rules, misrepresent themselves in any way on their IBFX trading application, attempt to disrupt the Contest or circumvent the rules, or act in an un-sportsmanlike manner or with intent to annoy or harass any other Participant(s) or Sponsor(s). IBFX reserves the right to amend, waive or interpret any rule in its sole discretion when doing so would be in the best interests of the contest. IBFX reserves the right to shorten or extend the Contest period or to cancel the contest if IBFX, in it its sole discretion, determines that such action is reasonable or necessary. All decisions are final. IBFX makes no warranty, representation or guarantee, express or implied, in fact or in law, relative to the use of the Contest prize including, but not limited to, quality, merchantability or fitness for a particular prize.
Under no circumstances will IBFX or any affiliated persons or entities be liable for: (1) electronic, computer, telephone, network, internet or other technical or human error(s) which may occur in connection with the Contest; (2) any injury or damage to person or property, which may be caused, directly or indirectly, from participation or attempted participation in the Contest; (3) illegitimate entries (which will be disqualified); (4) punitive, indirect, incidental or consequential damages.
IBFX reserves the right to; extend the trading period, to postpone the starting date until after the first of each month, choose not to display daily results and standings, or to cancel the contest if IBFX, in its sole discretion, determines that such action is reasonable or necessary. IBFX, in its sole discretion, may reject any Participant’s application for any reason.
Risk Disclosure
This Contest requires Participants to open and fund an IBFX mini trading account. Before deciding to participate in the Contest, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. There is considerable exposure to risk in any foreign exchange transaction. Moreover, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds. There are also risks associated with utilizing an internet-based deal execution software application including, but not limited, to the failure of hardware and software.
Current Standings
Register
Contest Rules
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
new to forex
What is Forex?
Forex, also called the Foreign Exchange Market, is the world's largest financial market, where traders buy and sell different currencies.
Why trade Forex?
Here's a look at today's Forex market [click to see]. Note the price fluctuations. If you buy low and sell high, you make profits. If the market moves against you, then you incur losses. Unlike the stock market, when one currency goes down, there's always another currency going up, making Forex attractive to banks and hedge funds, business and retail investors.
How do I know what currencies to buy or sell?
When dealing with any market, there are two general approaches traders use to estimate how the market will move. The first, technical analysis, focuses on price patterns and uses charting tools to discover them. The second, fundamental analysis, accredits price fluctuations as being a product of economic and political events. Click here to view our free online training video!
How does leverage work?
Leverage enhances your profit potential while also increasing your risk of loss. With a leverage of 100:1, you are allowed to purchase up to 100 units of another currency with just 1 dollar. Click here to learn more about leverage.
How much should I start with?
The minimum deposit to start trading live at Forex Club is $10. However, $10 won't get you far. Even if you are a great trader, an account this small won't yield more than several dollars a day. If you are aiming for greater results, consider starting with a larger account. We recommend starting with $500. This will gain you access to Autochartist, a chart analysis service that identifies quality trading opportunities and emerging trends in real-time.
How do I get started on Forex?
Getting started with Forex has never been easier. All you need is a computer, an Internet connection and a program called Trading Platform. Install the trading platform on your computer and try Forex trading with 5,000 virtual dollars. Sign up for a free demo account
Friday, February 27, 2009
Foreign exchange market
Foreign exchange
Exchange rates
Currency band
Exchange rate
Exchange rate regime
Fixed exchange rate
Floating exchange rate
Linked exchange rate
Markets
Foreign exchange market
Futures exchange
Retail forex
Products
Currency
Currency future
Non-deliverable forward
Forex swap
Currency swap
Foreign exchange option
See also
Bureau de change
The foreign exchange market (Currency, Forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. [1]FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.
Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.[2] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.[3]
The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.
Forex / Currency Trading
Forex / Currency Trading News Headlines courtesy of DailyFX
Forex stories from the past 24 hours: Click on any headline for complete story
Older Forex stories (from the past seven days) Click on any headline for complete story
Forex Software
Forex Software
We are proud to present some usefull FX Software for free download. Take a look on the list below:
* Forex Market Hours Monitor
Published: November 26, 2006 08:51
This software will help you to manage your account and to see main bourses working time.
Download Forex Market Hours Monitor, 256k
* Profinacci Calculator
Published: November 26, 2006 08:51
This programm will help you to count Fibonacchi levels for uptrends and downtrends.
Download Profinacci Calculator, 1205k
Rambler's Top100 Forex 100 Financial Services sites at Top100.ws TOP 100 INVESTING SITES TOP 100 STOCK INVESTING SITES TOP 100 FINANCIAL SITES TOP 100 FOREX SITES LibertyReserve.com Directory
Company News
02/05 8:00
The 10,000,000th transaction promo!
12/22 12:10
Christmas and New Year Holidays
12/02 8:33
Year-End 2008 Grand Event!
11/06 9:51
Welcome bonus policy change
11/05 2:20
Perfect Money payment processing added
Quotations
Global Interest Rates
Country Rate
Australia 3.25%
Canada 1%
Japan 0.1%
Swiss 0.5%
United Kingdom 1%
United States 0.25%
Europe 2%
FXOpen
Fxo open is a financial services company specialized in providing traders with high quality online trading services. FXOpen provide opportunity for individuals and private companies to trade on financial markets under equal conditions like traders operating in traditionally closed financial centers and institutions. FXOpen.com - Offers you FXOpen currency trading service that includes professional services in free streaming forex, forex broker, online forex trading, forex exchange, mini forex, mini forex trading platform. You can trust us for services in micro forex, micro forex trading platform, affiliate system, bonus system and in places like the United States, Egypt, Malaysia, Indonesia, Russia, China, France...
Our mission — high quality of services, trust of our clients and reliability of our work. Most important of all — a winning attitude that always puts YOU first!
Opening an account is fast and ready to activate within 5 minutes from any place of the world. Open a FOREX account with us today to enjoy the benefits so many have already experienced. As FXOpen customer, you can select from a full menu of professional services that have been specifically designed to meet your trading needs, including:
* Spread from 2 pips
* Leverage from 1:1 to 1:500
* Micro accounts from $1
* Standard accounts from $25
* A wide range of financial tools
* Trading terminal MetaTrader 4
* Islamic accounts
* Instant Execution — Quotation system
* 100$ bonus for standard accounts
* Online support 24/5
* Account opening within 5 minutes from any part of the world!
Welcome to Forex TradingCharts.com
We present a unique and informative free view of the forex trading market. Providing forex traders much more than mere raw numbers, our educational market data is portrayed in elegant meaningful graphs, following many of the major currencies in real time, daily, weekly and monthly interpretive charts.
Free Forex Charts
Take a look at the TradingCharts FX Charts — bar, candle, or line — all in graphical format (no need for Java!). Choose from a variety of customizing options such as date selection, studies/indicators, and time zones.
Free Forex Quotes
Stay current by checking out the latest real time foreign exchange quotes. View major currencies, major cross rates, exotic currencies or use our quote locator to find a specific currency pair. You can also create your own custom list which allows you fast access to desired quotes.
Free Forex News
Be sure to keep on top of the forex market by checking out TradingChart's foreign exchange news.
forex data
Groups: Major | US Dollar | Euro | Great Britain Pound | Japanese Yen | My Favorites
Enter symbol for quote:
SYMBOL USD EUR GBP CAD AUD JPY ZAR CHF
USD 0.78715 0.6972 1.2699 1.5547 97.63 10.0622 1.1666
EUR 1.2702 0.8859 1.6132 1.974 124.027 12.7962 1.4822
GBP 1.4336 1.1282 1.8208 2.2276 139.96 14.4342 1.6728
CAD 0.78753 0.6199 0.54914 1.2231 76.86 7.9316 0.9183
AUD 0.6432 0.5062 0.4484 0.8164 62.808 6.4801 0.7503
JPY 0.0102 0.0081 0.00714 0.01297 0.0159 0.10314 1.1939
ZAR 0.09894 0.07797 0.06912 0.12553 0.15396 9.6766 0.11567
CHF 0.8572 0.6747 0.59752 1.0851 1.3311 83.64 8.6323
Enter symbol for quote:
SYMBOL USD EUR GBP CAD AUD JPY ZAR CHF
USD 0.78715 0.6972 1.2699 1.5547 97.63 10.0622 1.1666
EUR 1.2702 0.8859 1.6132 1.974 124.027 12.7962 1.4822
GBP 1.4336 1.1282 1.8208 2.2276 139.96 14.4342 1.6728
CAD 0.78753 0.6199 0.54914 1.2231 76.86 7.9316 0.9183
AUD 0.6432 0.5062 0.4484 0.8164 62.808 6.4801 0.7503
JPY 0.0102 0.0081 0.00714 0.01297 0.0159 0.10314 1.1939
ZAR 0.09894 0.07797 0.06912 0.12553 0.15396 9.6766 0.11567
CHF 0.8572 0.6747 0.59752 1.0851 1.3311 83.64 8.6323
Tuesday, February 24, 2009
Flash Charts
On this page you can find advanced, easy-to-read flash charts. The charts contain live data feeds to give you instant information on many currency pairs. Select which currency pair you wish to display from the extensive list of pairs below. You can also add indicators like Bollinger Bands, Envelopes and the Price Oscillator to really enhance the charts as well as the option to choose a bigger timeframe over which to view the charts.
Forex Charts
* Flash Charts
* Currency Charts
* Forex Streaming Charts
* Live Forex Chart
* Chart Patterns
* Multiple Future Streaming Charts
* Multiple Indices Streaming Charts
* Multiple Forex Streaming Charts
* Real Time Forex Charts
Trading Tools
* Live Forex Chart
* Currency Converter
* Fibonacci Calculator
* Forex Pivot Point Calculator
* Economic Calendar
*
Flash Charts
Select Pair:
What is iChart and how it works?
One of the main goals for any content driven site in todays marketplace is to attract a lot of traffic. By offering real time charts and quotes to your customers your site will gain life and attractiveness and your customer will keep getting back for more.
More Information
Content Provided by:
iCharts
iChartsOnline develops and hosts financial web based data solutions focusing on cutting edge charting a quotes. These components and tools are very easy to integrate into financial services websites.
Forex Charts
* Flash Charts
* Currency Charts
* Forex Streaming Charts
* Live Forex Chart
* Chart Patterns
* Multiple Future Streaming Charts
* Multiple Indices Streaming Charts
* Multiple Forex Streaming Charts
* Real Time Forex Charts
Trading Tools
* Live Forex Chart
* Currency Converter
* Fibonacci Calculator
* Forex Pivot Point Calculator
* Economic Calendar
*
Flash Charts
Select Pair:
What is iChart and how it works?
One of the main goals for any content driven site in todays marketplace is to attract a lot of traffic. By offering real time charts and quotes to your customers your site will gain life and attractiveness and your customer will keep getting back for more.
More Information
Content Provided by:
iCharts
iChartsOnline develops and hosts financial web based data solutions focusing on cutting edge charting a quotes. These components and tools are very easy to integrate into financial services websites.
Lead Trader
Lead Trader, Ken Matsumoto and the SwingTrades.com strategy team are working to bring you information and tips to help you become a better trader.
Whether through our online articles, our ebooks, or downloadable videos, we are committed to helping you succeed.
video$279.00 Order Now!
VIDEO: Swing Trading Success
Learn SwingTrades.com's swing trading strategy in an all inclusive video.
This online video is available for immediate download and will guide you step by step through the entire process from Assessing Daily Market trends, to scanning and identifying stocks for potential 2 – 5% gains. This is the same strategy that is implemented in our highly profitable Daily Alert Newsletter. By the end of this series you will be able to:
• Identify market trends to trade with the major tide of the market.
• Identify stocks ready for Explosive Breakouts.
• Implement an efficient stop loss plan for any trade.
• React to stocks rather than predicting them.
• Be a self proficient trader by executing the exact strategy the SwingTrades.com team uses
This is a must see video for traders who are looking for detailed step by step instructions on short term trading. Pick up this video today and immediately identify the same swing trading opportunities our trading team does on a daily basis!
VIDEO: Day Trading Strategies
Empower yourself with our three day-trading strategies in this revealing step by step online video, available for immediate download. These proprietary strategies are responsible for day trading performance seen on our site
This video will empower you with our exclusive:
• Type A : Daily Breakouts. Breakouts points identified even before the market opens. Helps to create a trade plan before the even begins.
• Type B: Gapping Stocks. See how we take advantage of mornings gaps to capitalize on the most profitable time of day
• Type C: Bottom/Top calls. See how we identify perfect entries when buying a bottom or shorting a top, all of which makes for enormous profit potential.
This video is packed full of explicit charts and information. Pick up this video today and immediately learn to identify the same explosive setups our professional traders deliver in our day trading chat room!
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VIDEO: Market Assessment & Maximized Profits
Used as a great supplement to our Day Trading video or by itself as a tutorial on how to assess Intraday Market Trends and reversal. This is an extremely powerful online video, available for immediate download, that will help you in some of the most important aspects of trading, managing stops and riding out gains.
After this video, you will:
• Learn which charting time frames our professional traders use to assessment market trends
• Learn how to identify key intraday market reversals that occur everyday
• Learn to accurately assess current market trends for better decision making on riding out trades for extended gains
• Learn the different types of trends that develop at pivotal points in the day
• Learn how our professional traders trade use the market trends to increase their success rate on profitable trades
• Learn how we implement our most efficient stop loss plan, which can be used on any trading strategy
This is a must have video for those traders who are struggling with stop loss plans and inefficient selling for profits. Pick up this video today to have an immediate impact on your trading results!
VIDEO: Executing your Way to Better Profits
This online video, available for immediate download will show you how to setup a professional trading station and execute trades with the best of them. Now you can finally rest assured that you have the same tools that the rest of the successful trader have. Leave the “last one to get in” to someone else, when you equip yourself with the at home professional trade station.
Coming Soon!
Home Our Services Support Education Performance About Us
© 2007 Swingtrades.com All rights reserved.
The risk of loss in stock, stock/options, futures, futures/options, and forex trading is substantial, and site visitors and subscribers should consider whether trading these markets is appropriate in light of their financial situation. No warranty, express or implied, is made by SwingTrades.com or its providers of information, as to the results to be obtained from use of SwingTrades.com’s information or the fitness of its use for a particular purpose. Trading results of subscribers attempting to replicate the activity of any SwingTrades.com account may differ significantly from the results obtained in the SwingTrades.com account due to slippage, market volatility, lack of liquidity and other factors. Hypothetical performance results, while clearly labeled when used, do not represent actual trading results and have inherent limitations. Trades not actually executed cannot reflect the true impact of market factors, including lack of liquidity. SwingTrades.com makes no representation that site visitors or subscribers will experience profits or losses similar to those shown. Past results of any performance published on SwingTrades.com are not indicative of future returns. A member of SwingTrades.com is an Introducing Broker for ProActive Trading.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
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By accessing and using this website of SwingTrades.com LLC (sometimes referred to here as the “Company”), you are agreeing to be bound by these terms of use, conditions and disclaimer ("Terms of Use") and all applicable laws and regulations. If you do not agree with any part of these Terms of Use, you must immediately discontinue any use of the website. These Terms of Use may change from time to time without notice and it is your responsibility to check for updates. By using this website you are agreeing to be bound by the, then current version of these Terms of Use.
Legal Disclaimer and Disclosure
Data and information is provided for informational purposes only. Neither the Company nor any of its data or content providers shall be liable for any errors or for any actions taken in reliance thereon. By accessing this website, a user agrees not to redistribute the information found therein. Trade at your own risk.
No Financial Advice
The information on the website is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice. The information on this website is general in nature and is not specific to you. You should not make any decision, financial or otherwise, based on any of the information on this site without undertaking your own due diligence. You agree that any and all use of the information, which you make, is solely at your own risk and without recourse to the Company or the content providers.
No Solicitation
No part of this website should be taken to constitute an offer or solicitation to buy or sell products or services. Some products or services mentioned on this website may only be available in certain areas or jurisdictions. Any products or services mentioned on this website are made available in accordance with local laws and only where they may be lawfully offered for sale.
Market Opinions
All opinions, news, research, analysis, prices or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company will not accept liability for any loss or damage, including, but without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Principals of the Company, the Company, affiliates, and/or content providers may or may not hold positions or interests in stocks discussed in this website.
Accuracy of Information
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting traders in making independent investment decisions. The Company has taken reasonable measures to ensure the accuracy of the information on the website, however, the company does not guarantee its accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notification sent through this website.
Distribution
This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this Web site is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Disclaimer Warranty
THE MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT POSSIBLE PURSUANT TO THE APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR OTHER VIOLATION OF RIGHTS. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE, VALIDITY, ACCURACY, OR RELIABILITY OF, OR THE RESULTS OF THE USE OF, OR OTHERWISE RESPECTING, THE MATERIALS ON THIS WEBSITE OR ANY SITES LINKED TO THIS SITE.
Limitation of Liability
THE INFORMATION CONTAINED IN THESE WEBSITE PAGES IS COMPILED FOR THE CONVENIENCE OF SITE VISITORS, IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY, AND IS ACCEPTED BY THE SITE VISITOR ON THE CONDITION THAT ERRORS OR OMISSIONS SHALL NOT BE MADE THE BASIS FOR ANY CLAIM, DEMAND, OR CAUSE FOR ACTION. THE INFORMATION AND DATA IN THESE PAGES WERE OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THE COMPANY DOES NOT GUARANTEE THEIR ACCURACY. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL COMPANY BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF DATA OR PROFIT, ARISING OUT OF THE USE OR THE INABILITY TO USE, THE MATERIALS ON THIS SITE, EVEN IF THE COMPANY OR A COMPANY AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. THERE IS CONSIDERABLE RISK OF LOSS IN DAY TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Read the Securities and Exchange Commission Statement on Day Trading by clicking he
Whether through our online articles, our ebooks, or downloadable videos, we are committed to helping you succeed.
video$279.00 Order Now!
VIDEO: Swing Trading Success
Learn SwingTrades.com's swing trading strategy in an all inclusive video.
This online video is available for immediate download and will guide you step by step through the entire process from Assessing Daily Market trends, to scanning and identifying stocks for potential 2 – 5% gains. This is the same strategy that is implemented in our highly profitable Daily Alert Newsletter. By the end of this series you will be able to:
• Identify market trends to trade with the major tide of the market.
• Identify stocks ready for Explosive Breakouts.
• Implement an efficient stop loss plan for any trade.
• React to stocks rather than predicting them.
• Be a self proficient trader by executing the exact strategy the SwingTrades.com team uses
This is a must see video for traders who are looking for detailed step by step instructions on short term trading. Pick up this video today and immediately identify the same swing trading opportunities our trading team does on a daily basis!
VIDEO: Day Trading Strategies
Empower yourself with our three day-trading strategies in this revealing step by step online video, available for immediate download. These proprietary strategies are responsible for day trading performance seen on our site
This video will empower you with our exclusive:
• Type A : Daily Breakouts. Breakouts points identified even before the market opens. Helps to create a trade plan before the even begins.
• Type B: Gapping Stocks. See how we take advantage of mornings gaps to capitalize on the most profitable time of day
• Type C: Bottom/Top calls. See how we identify perfect entries when buying a bottom or shorting a top, all of which makes for enormous profit potential.
This video is packed full of explicit charts and information. Pick up this video today and immediately learn to identify the same explosive setups our professional traders deliver in our day trading chat room!
video$279.00 Order Now!
video$279.00 Order Now!
VIDEO: Market Assessment & Maximized Profits
Used as a great supplement to our Day Trading video or by itself as a tutorial on how to assess Intraday Market Trends and reversal. This is an extremely powerful online video, available for immediate download, that will help you in some of the most important aspects of trading, managing stops and riding out gains.
After this video, you will:
• Learn which charting time frames our professional traders use to assessment market trends
• Learn how to identify key intraday market reversals that occur everyday
• Learn to accurately assess current market trends for better decision making on riding out trades for extended gains
• Learn the different types of trends that develop at pivotal points in the day
• Learn how our professional traders trade use the market trends to increase their success rate on profitable trades
• Learn how we implement our most efficient stop loss plan, which can be used on any trading strategy
This is a must have video for those traders who are struggling with stop loss plans and inefficient selling for profits. Pick up this video today to have an immediate impact on your trading results!
VIDEO: Executing your Way to Better Profits
This online video, available for immediate download will show you how to setup a professional trading station and execute trades with the best of them. Now you can finally rest assured that you have the same tools that the rest of the successful trader have. Leave the “last one to get in” to someone else, when you equip yourself with the at home professional trade station.
Coming Soon!
Home Our Services Support Education Performance About Us
© 2007 Swingtrades.com All rights reserved.
The risk of loss in stock, stock/options, futures, futures/options, and forex trading is substantial, and site visitors and subscribers should consider whether trading these markets is appropriate in light of their financial situation. No warranty, express or implied, is made by SwingTrades.com or its providers of information, as to the results to be obtained from use of SwingTrades.com’s information or the fitness of its use for a particular purpose. Trading results of subscribers attempting to replicate the activity of any SwingTrades.com account may differ significantly from the results obtained in the SwingTrades.com account due to slippage, market volatility, lack of liquidity and other factors. Hypothetical performance results, while clearly labeled when used, do not represent actual trading results and have inherent limitations. Trades not actually executed cannot reflect the true impact of market factors, including lack of liquidity. SwingTrades.com makes no representation that site visitors or subscribers will experience profits or losses similar to those shown. Past results of any performance published on SwingTrades.com are not indicative of future returns. A member of SwingTrades.com is an Introducing Broker for ProActive Trading.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Terms of Use
By accessing and using this website of SwingTrades.com LLC (sometimes referred to here as the “Company”), you are agreeing to be bound by these terms of use, conditions and disclaimer ("Terms of Use") and all applicable laws and regulations. If you do not agree with any part of these Terms of Use, you must immediately discontinue any use of the website. These Terms of Use may change from time to time without notice and it is your responsibility to check for updates. By using this website you are agreeing to be bound by the, then current version of these Terms of Use.
Legal Disclaimer and Disclosure
Data and information is provided for informational purposes only. Neither the Company nor any of its data or content providers shall be liable for any errors or for any actions taken in reliance thereon. By accessing this website, a user agrees not to redistribute the information found therein. Trade at your own risk.
No Financial Advice
The information on the website is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice. The information on this website is general in nature and is not specific to you. You should not make any decision, financial or otherwise, based on any of the information on this site without undertaking your own due diligence. You agree that any and all use of the information, which you make, is solely at your own risk and without recourse to the Company or the content providers.
No Solicitation
No part of this website should be taken to constitute an offer or solicitation to buy or sell products or services. Some products or services mentioned on this website may only be available in certain areas or jurisdictions. Any products or services mentioned on this website are made available in accordance with local laws and only where they may be lawfully offered for sale.
Market Opinions
All opinions, news, research, analysis, prices or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company will not accept liability for any loss or damage, including, but without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Principals of the Company, the Company, affiliates, and/or content providers may or may not hold positions or interests in stocks discussed in this website.
Accuracy of Information
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting traders in making independent investment decisions. The Company has taken reasonable measures to ensure the accuracy of the information on the website, however, the company does not guarantee its accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notification sent through this website.
Distribution
This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this Web site is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Disclaimer Warranty
THE MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT POSSIBLE PURSUANT TO THE APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR OTHER VIOLATION OF RIGHTS. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE, VALIDITY, ACCURACY, OR RELIABILITY OF, OR THE RESULTS OF THE USE OF, OR OTHERWISE RESPECTING, THE MATERIALS ON THIS WEBSITE OR ANY SITES LINKED TO THIS SITE.
Limitation of Liability
THE INFORMATION CONTAINED IN THESE WEBSITE PAGES IS COMPILED FOR THE CONVENIENCE OF SITE VISITORS, IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY, AND IS ACCEPTED BY THE SITE VISITOR ON THE CONDITION THAT ERRORS OR OMISSIONS SHALL NOT BE MADE THE BASIS FOR ANY CLAIM, DEMAND, OR CAUSE FOR ACTION. THE INFORMATION AND DATA IN THESE PAGES WERE OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THE COMPANY DOES NOT GUARANTEE THEIR ACCURACY. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL COMPANY BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF DATA OR PROFIT, ARISING OUT OF THE USE OR THE INABILITY TO USE, THE MATERIALS ON THIS SITE, EVEN IF THE COMPANY OR A COMPANY AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. THERE IS CONSIDERABLE RISK OF LOSS IN DAY TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Read the Securities and Exchange Commission Statement on Day Trading by clicking he
Managed Forex
Managed Forex
Sub-categories: None
FOREX MONEY MANAGER
Professional management Leverage and low investment requirements Optimal "per trade" risk management Access to International markets Non-correlated to traditional equity and fixed income markets Potential profits in both rising and falling markets Liquidity – month-to-month Transparency – monitor/view account 24/7 in “real-time” No commingling of accounts
Boston Trading and Research LLC
MANAGED FOREX ACCOUNTS Consecutive profit months Trader ranked high in Sharpe Ratio Draw down limits 24/7 Access to your account Money tied up for a short period
Boston Trading and Research LLC
MANAGED FOREX ACCOUNTS Consecutive profit months Trader ranked high in Sharpe Ratio Draw down limits 24/7 Access to your account Money tied up for a short period
Global Currency Advisors
Specializing in fully managed forex accounts. Free demo and signals provided. Register today and start building a track record. Accepting accounts with no minimum for a limited time only.
FX Investment Solutions
Provides solutions for Forex managed accounts as well as for small amount investments. Innovative approach.
AutopilotUSA LLC
AutopilotUSA LLC is a New York City based CTA which offers forex managed accounts based on its proprietary methodology which operates as an automated trend following system on the EUR/USD.
Dynex Currency Strategy
Forex Fund Management
Managed forex account | Managed forex trading | Forex trading signal - VA group
VA group offers professional forex managed account trading, forex trading signals and investment services for high net worth individuals.
Radiant Capital Advisors
Radiant is the home of many professional forex traders and offers managed accounts. Radiant also seeks to fund emerging managers.
4XDirect
Provides managed no load Forex trading program without commissions, company background and Forex resources.
Forex Trading
Professional foreign exchange trading with up 100 FX currency pairs. Mulitibank liquidity and 2 pip spreads.
Fxtrader.net
Forex Managed Accounts, Forex Currency Trading Services, Forecast Products.
Forextradingusa.com
Forex (FX) Trading USA provides free live training to all customers. Free e-book for mini accounts. Managed forex accounts with targeted net returns of 25% to 40% a year.
Forex Managed Accounts
Top money managers achieve outstanding returns on forex managed accounts.
Seaview Capital
Forex trading and Fx managed accounts by Seaview Capital inc, registered experienced experts in currency exchange, trading and forex managed accounts.
IQ Managed
Managed Accounts. IQM FastTrack. About the Forex Market. Professional Trader Opportunities. Institutional Quality Managed Forex.
Forex-Traders.info
High Performance Forex Managed Accounts for savvy Investors. Would you mind having the chance to double your money within a year or two? Then you've come to the right place.
Fxfareast.com
Forex trading signals and asset management for the currency market, managed accounts, money manager.
Sub-categories: None
FOREX MONEY MANAGER
Professional management Leverage and low investment requirements Optimal "per trade" risk management Access to International markets Non-correlated to traditional equity and fixed income markets Potential profits in both rising and falling markets Liquidity – month-to-month Transparency – monitor/view account 24/7 in “real-time” No commingling of accounts
Boston Trading and Research LLC
MANAGED FOREX ACCOUNTS Consecutive profit months Trader ranked high in Sharpe Ratio Draw down limits 24/7 Access to your account Money tied up for a short period
Boston Trading and Research LLC
MANAGED FOREX ACCOUNTS Consecutive profit months Trader ranked high in Sharpe Ratio Draw down limits 24/7 Access to your account Money tied up for a short period
Global Currency Advisors
Specializing in fully managed forex accounts. Free demo and signals provided. Register today and start building a track record. Accepting accounts with no minimum for a limited time only.
FX Investment Solutions
Provides solutions for Forex managed accounts as well as for small amount investments. Innovative approach.
AutopilotUSA LLC
AutopilotUSA LLC is a New York City based CTA which offers forex managed accounts based on its proprietary methodology which operates as an automated trend following system on the EUR/USD.
Dynex Currency Strategy
Forex Fund Management
Managed forex account | Managed forex trading | Forex trading signal - VA group
VA group offers professional forex managed account trading, forex trading signals and investment services for high net worth individuals.
Radiant Capital Advisors
Radiant is the home of many professional forex traders and offers managed accounts. Radiant also seeks to fund emerging managers.
4XDirect
Provides managed no load Forex trading program without commissions, company background and Forex resources.
Forex Trading
Professional foreign exchange trading with up 100 FX currency pairs. Mulitibank liquidity and 2 pip spreads.
Fxtrader.net
Forex Managed Accounts, Forex Currency Trading Services, Forecast Products.
Forextradingusa.com
Forex (FX) Trading USA provides free live training to all customers. Free e-book for mini accounts. Managed forex accounts with targeted net returns of 25% to 40% a year.
Forex Managed Accounts
Top money managers achieve outstanding returns on forex managed accounts.
Seaview Capital
Forex trading and Fx managed accounts by Seaview Capital inc, registered experienced experts in currency exchange, trading and forex managed accounts.
IQ Managed
Managed Accounts. IQM FastTrack. About the Forex Market. Professional Trader Opportunities. Institutional Quality Managed Forex.
Forex-Traders.info
High Performance Forex Managed Accounts for savvy Investors. Would you mind having the chance to double your money within a year or two? Then you've come to the right place.
Fxfareast.com
Forex trading signals and asset management for the currency market, managed accounts, money manager.
Daytrading Seminar NEW!
.
. Daytrading Seminar NEW!
Our comprehensive online training gets you ahead of the trading curve.
.
Combined Services NEW!
Our services are now available in combined packages with special rates.
.
Great Deals from Featured Brokers
NEW! Our Partners offer you the best in trading platforms
.
Swing Trading Solutions
Our Swing Trading Email Alerts can help you to realize consistent results with a hassle-free and honest strategy.
Day Trading Solutions
Our Day Trading Chat Service can help you throughout the day's market with real-time support and expertise.
Free Weekly Stock Plays
Review our weekly stock plays.
videos
.
Ken Matsumoto
Lead Trader,
Ken Matsumoto
and our Swing Trading Strategy Team work hard to help you succeed.
We Help Investors & Traders take control of their own financial futures. We give you the tools to help you to be successful and show you how to potentially make consistent profits through swing trading and day trading.
Our team consists of seasoned professionals, dedicated to helping traders thrive in the financial markets through proven proprietary trading techniques. Our strategy identifies exact stock breakout points allowing traders to maximize their profits in the shortest amount of time....more
commercial
Home Our Services Support Education Performance About Us
© 2007 Swingtrades.com All rights reserved.
The risk of loss in stock, stock/options, futures, futures/options, and forex trading is substantial, and site visitors and subscribers should consider whether trading these markets is appropriate in light of their financial situation. No warranty, express or implied, is made by SwingTrades.com or its providers of information, as to the results to be obtained from use of SwingTrades.com’s information or the fitness of its use for a particular purpose. Trading results of subscribers attempting to replicate the activity of any SwingTrades.com account may differ significantly from the results obtained in the SwingTrades.com account due to slippage, market volatility, lack of liquidity and other factors. Hypothetical performance results, while clearly labeled when used, do not represent actual trading results and have inherent limitations. Trades not actually executed cannot reflect the true impact of market factors, including lack of liquidity. SwingTrades.com makes no representation that site visitors or subscribers will experience profits or losses similar to those shown. Past results of any performance published on SwingTrades.com are not indicative of future returns.
Affiliations
A member of SwingTrades.com is an Introducing Broker for ProActive Trading. Members affiliated with SwingTrades.com may receive compensation or indirect benefit from Harmon Trading for referals.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Disclosure Pertaining to Paid Advertisements and Employee Trading
Swingtrades.com from time to time or all the time may post on its web site or other media paid advertisements about a particular company or security. Swingtrades.com discloses that one or more individuals associated with Swingtrades.com and/or their family members will have acquired a beneficial interest in the common stock of the company profiled in the paid advertisement prior to the date of publication of the paid advertisement and will stand to profit upon the publication of the advertisement. Readers are strongly urged to conduct their own research of the advertised company and to consult their own professional advisors and any available public information about the company, including its press releases, financial statements, and material disclosures made in company SEC filings, if any. Never make an investment decision solely based upon paid advertising. Swingtrades.com does not review the accuracy of the information presented in any paid advertisement, nor do we guarantee its accuracy.
Terms of Use
By accessing and using this website of SwingTrades.com LLC (sometimes referred to here as the “Company”), you are agreeing to be bound by these terms of use, conditions and disclaimer ("Terms of Use") and all applicable laws and regulations. If you do not agree with any part of these Terms of Use, you must immediately discontinue any use of the website. These Terms of Use may change from time to time without notice and it is your responsibility to check for updates. By using this website you are agreeing to be bound by the, then current version of these Terms of Use.
Legal Disclaimer and Disclosure
Data and information is provided for informational purposes only. Neither the Company nor any of its data or content providers shall be liable for any errors or for any actions taken in reliance thereon. By accessing this website, a user agrees not to redistribute the information found therein. Trade at your own risk.
No Financial Advice
The information on the website is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice. The information on this website is general in nature and is not specific to you. You should not make any decision, financial or otherwise, based on any of the information on this site without undertaking your own due diligence. You agree that any and all use of the information, which you make, is solely at your own risk and without recourse to the Company or the content providers.
No Solicitation
No part of this website should be taken to constitute an offer or solicitation to buy or sell products or services. Some products or services mentioned on this website may only be available in certain areas or jurisdictions. Any products or services mentioned on this website are made available in accordance with local laws and only where they may be lawfully offered for sale.
Market Opinions
All opinions, news, research, analysis, prices or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company will not accept liability for any loss or damage, including, but without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Principals of the Company, the Company, affiliates, and/or content providers may or may not hold positions or interests in stocks discussed in this website.
Accuracy of Information
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting traders in making independent investment decisions. The Company has taken reasonable measures to ensure the accuracy of the information on the website, however, the company does not guarantee its accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notification sent through this website.
Distribution
This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this Web site is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Disclaimer Warranty
THE MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT POSSIBLE PURSUANT TO THE APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR OTHER VIOLATION OF RIGHTS. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE, VALIDITY, ACCURACY, OR RELIABILITY OF, OR THE RESULTS OF THE USE OF, OR OTHERWISE RESPECTING, THE MATERIALS ON THIS WEBSITE OR ANY SITES LINKED TO THIS SITE.
Limitation of Liability
THE INFORMATION CONTAINED IN THESE WEBSITE PAGES IS COMPILED FOR THE CONVENIENCE OF SITE VISITORS, IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY, AND IS ACCEPTED BY THE SITE VISITOR ON THE CONDITION THAT ERRORS OR OMISSIONS SHALL NOT BE MADE THE BASIS FOR ANY CLAIM, DEMAND, OR CAUSE FOR ACTION. THE INFORMATION AND DATA IN THESE PAGES WERE OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THE COMPANY DOES NOT GUARANTEE THEIR ACCURACY. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL COMPANY BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF DATA OR PROFIT, ARISING OUT OF THE USE OR THE INABILITY TO USE, THE MATERIALS ON THIS SITE, EVEN IF THE COMPANY OR A COMPANY AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. THERE IS CONSIDERABLE RISK OF LOSS IN DAY TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Read the Securities and Exchange Commission Statement on Day Trading by clicking here
1772343
. Daytrading Seminar NEW!
Our comprehensive online training gets you ahead of the trading curve.
.
Combined Services NEW!
Our services are now available in combined packages with special rates.
.
Great Deals from Featured Brokers
NEW! Our Partners offer you the best in trading platforms
.
Swing Trading Solutions
Our Swing Trading Email Alerts can help you to realize consistent results with a hassle-free and honest strategy.
Day Trading Solutions
Our Day Trading Chat Service can help you throughout the day's market with real-time support and expertise.
Free Weekly Stock Plays
Review our weekly stock plays.
videos
.
Ken Matsumoto
Lead Trader,
Ken Matsumoto
and our Swing Trading Strategy Team work hard to help you succeed.
We Help Investors & Traders take control of their own financial futures. We give you the tools to help you to be successful and show you how to potentially make consistent profits through swing trading and day trading.
Our team consists of seasoned professionals, dedicated to helping traders thrive in the financial markets through proven proprietary trading techniques. Our strategy identifies exact stock breakout points allowing traders to maximize their profits in the shortest amount of time....more
commercial
Home Our Services Support Education Performance About Us
© 2007 Swingtrades.com All rights reserved.
The risk of loss in stock, stock/options, futures, futures/options, and forex trading is substantial, and site visitors and subscribers should consider whether trading these markets is appropriate in light of their financial situation. No warranty, express or implied, is made by SwingTrades.com or its providers of information, as to the results to be obtained from use of SwingTrades.com’s information or the fitness of its use for a particular purpose. Trading results of subscribers attempting to replicate the activity of any SwingTrades.com account may differ significantly from the results obtained in the SwingTrades.com account due to slippage, market volatility, lack of liquidity and other factors. Hypothetical performance results, while clearly labeled when used, do not represent actual trading results and have inherent limitations. Trades not actually executed cannot reflect the true impact of market factors, including lack of liquidity. SwingTrades.com makes no representation that site visitors or subscribers will experience profits or losses similar to those shown. Past results of any performance published on SwingTrades.com are not indicative of future returns.
Affiliations
A member of SwingTrades.com is an Introducing Broker for ProActive Trading. Members affiliated with SwingTrades.com may receive compensation or indirect benefit from Harmon Trading for referals.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
Disclosure Pertaining to Paid Advertisements and Employee Trading
Swingtrades.com from time to time or all the time may post on its web site or other media paid advertisements about a particular company or security. Swingtrades.com discloses that one or more individuals associated with Swingtrades.com and/or their family members will have acquired a beneficial interest in the common stock of the company profiled in the paid advertisement prior to the date of publication of the paid advertisement and will stand to profit upon the publication of the advertisement. Readers are strongly urged to conduct their own research of the advertised company and to consult their own professional advisors and any available public information about the company, including its press releases, financial statements, and material disclosures made in company SEC filings, if any. Never make an investment decision solely based upon paid advertising. Swingtrades.com does not review the accuracy of the information presented in any paid advertisement, nor do we guarantee its accuracy.
Terms of Use
By accessing and using this website of SwingTrades.com LLC (sometimes referred to here as the “Company”), you are agreeing to be bound by these terms of use, conditions and disclaimer ("Terms of Use") and all applicable laws and regulations. If you do not agree with any part of these Terms of Use, you must immediately discontinue any use of the website. These Terms of Use may change from time to time without notice and it is your responsibility to check for updates. By using this website you are agreeing to be bound by the, then current version of these Terms of Use.
Legal Disclaimer and Disclosure
Data and information is provided for informational purposes only. Neither the Company nor any of its data or content providers shall be liable for any errors or for any actions taken in reliance thereon. By accessing this website, a user agrees not to redistribute the information found therein. Trade at your own risk.
No Financial Advice
The information on the website is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice. The information on this website is general in nature and is not specific to you. You should not make any decision, financial or otherwise, based on any of the information on this site without undertaking your own due diligence. You agree that any and all use of the information, which you make, is solely at your own risk and without recourse to the Company or the content providers.
No Solicitation
No part of this website should be taken to constitute an offer or solicitation to buy or sell products or services. Some products or services mentioned on this website may only be available in certain areas or jurisdictions. Any products or services mentioned on this website are made available in accordance with local laws and only where they may be lawfully offered for sale.
Market Opinions
All opinions, news, research, analysis, prices or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company will not accept liability for any loss or damage, including, but without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Principals of the Company, the Company, affiliates, and/or content providers may or may not hold positions or interests in stocks discussed in this website.
Accuracy of Information
The content on this website is subject to change at any time without notice and is provided for the sole purpose of assisting traders in making independent investment decisions. The Company has taken reasonable measures to ensure the accuracy of the information on the website, however, the company does not guarantee its accuracy and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notification sent through this website.
Distribution
This site is not intended for distribution, or use by, any person in any country where such distribution or use would be contrary to local law or regulation. None of the services or investments referred to in this Web site is available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of and comply with any local law or regulation to which they are subject.
Disclaimer Warranty
THE MATERIALS ON THIS WEBSITE ARE PROVIDED "AS IS" WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT POSSIBLE PURSUANT TO THE APPLICABLE LAW, THE COMPANY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OR OTHER VIOLATION OF RIGHTS. THE COMPANY DOES NOT WARRANT OR MAKE ANY REPRESENTATIONS REGARDING THE USE, VALIDITY, ACCURACY, OR RELIABILITY OF, OR THE RESULTS OF THE USE OF, OR OTHERWISE RESPECTING, THE MATERIALS ON THIS WEBSITE OR ANY SITES LINKED TO THIS SITE.
Limitation of Liability
THE INFORMATION CONTAINED IN THESE WEBSITE PAGES IS COMPILED FOR THE CONVENIENCE OF SITE VISITORS, IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY, AND IS ACCEPTED BY THE SITE VISITOR ON THE CONDITION THAT ERRORS OR OMISSIONS SHALL NOT BE MADE THE BASIS FOR ANY CLAIM, DEMAND, OR CAUSE FOR ACTION. THE INFORMATION AND DATA IN THESE PAGES WERE OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT THE COMPANY DOES NOT GUARANTEE THEIR ACCURACY. UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL COMPANY BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOSS OF DATA OR PROFIT, ARISING OUT OF THE USE OR THE INABILITY TO USE, THE MATERIALS ON THIS SITE, EVEN IF THE COMPANY OR A COMPANY AUTHORIZED REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU. THERE IS CONSIDERABLE RISK OF LOSS IN DAY TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Read the Securities and Exchange Commission Statement on Day Trading by clicking here
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