FOREX Trading is the process of buying or selling one, two or more currencies and this process is usually carried out and executed by a number of (Fx) or foreign exchange market participants. If an individual or an investor decides and takes action to buy USD or ZAR then FOREX trading has happened, most people ask themselves what Forex Trading is?
The term FOREX Trading is a huge term that is having about 100 000 to 1 million global average searches every month on Google keyword searches. Many people are on the perception that trading FOREX is the better way to generate passive or active income and others strongly believe that FOREX trading is a greener link or a golden path that will liberate them from their financial oppression.
You can-never separate FOREX and currencies, without currencies there is no FOREX and vice versa.
Knowing about FOREX Trading is one of the simplest lesson you may obtain, however to be the best trader is another game that is mastered after compiling so many directives. Let us take this issue chronologically so that everyone may have the clearer picture of what is happening in the (Fx Market) which is also known as the Foreign Exchange Market.
Prolonging our discussion, sources have previously revealed that it would almost cost the New York Stock Exchange three to four months of trading to equal trading during one day of the FOREX market. This market is having about $5 to $ 6 trillion traded every day as researched in the year of 2018 by tradingview.
What is the foreign exchange market?
The term foreign exchange market includes the worldwide Inter-bank or Inter-dealer trading system that influences utilization of floating exchange rates between different countries’ currencies like the USD/ZAR which is our lesson’s moral. The Foreign Exchange Market is the most world’s hugest financial market, and most of people don’t know about it. If you want to be clear, In the Foreign exchange market that is the exact place where FOREX trading happens, The research specify that It is very impossible to understand the foreign exchange market as a whole however getting and gaining few skills might drive you very closer to understand the market.
How huge is the Foreign Exchange Market?
The Foreign exchange market is very huge and comprises of so many main participants as mentioned above, being the bank, government, investors, financial institutions, FOREX brokers and FOREX traders, since you can see by yourself the truth – not even the governments as a whole can take the completely control over the long-term direction in this market. However some unfair Banks took advantage by fixing prices to try to control the market by grouping themselves into one.
Where is the Foreign Exchange Market located?
The majority of individual inquire, “where is the FOREX Market located?” In intent perspective there is usually no central location for currency trading to take place since people can still trade online or electronically. In reference to this the word, “Market” might be a bit misleading. Banks that process transactions for larger companies and governments do the biggest chunk of FOREX trading. The aforementioned institutions provide exchange rates in the broader market on a continuous basis. The most recent quote is generally seen as the current pricing for the currency. However there is a place for trading stocks and commodities which happen in the following cities:
· City of Johannesburg – This is located in South Africa
· City of London – This is located in United Kingdom and is the biggest in trading than all
· City of Tokyo – This is located in Japan and it is most well known in the world
· City of Hong Kong – This is located in China
· City of Singapore – This is located in Southern Asia
· City of Frankfurter – This is located in Germany
· City of New York – This is located in the United States of America
· City of Wellington – This is located in New Zealand
· City of Sydney – This is located in Australia
Can you make money trading Forex?
The easy answer is “Yes” and the difficult one is “No”, This depends on your skills in analyzing the market, you are the one who will determine or should we say predict the direction of the market, the question is: will the market value appreciates or depreciates?
Meaning that you will always have to open a trades specifying the direction of the market movement. With all this you are the one who will have to favor one currency when compared to the other, should your prediction be accurate then you will accrue profit but should the market go against your assumptions then you will suffer a loss
As an aspiring trader you need to understand the market expedient and if you do not then make it a point that you involve some professionals like financial analyst and experts, Knowledge, and experience counts best, these people know to analyse the market, they know when the market is having high chances of appreciating and of depreciating too, and this is the only way to maneuver the market.
I usually say if you are a first time trader the chances of losing are 95% and if you trade wisely with the help of professional analyst then your chances of making profit are high and FOREX trading will be like picking a bag full of money.
The Story Behind a young man who earned $40000 -$60000 for two consecutive years working as an Introducing Forex Broker
Learn on how this successful young man made his way up to success by just referring other FOREX traders to this broker of choice
I AM ABOUT TO DISCLOSE MY PERCEPTION ABOUT FOREX TRADING, AFTER STUDYING THIS ARTICLE YOUR PERCEPTIONS ABOUT FOREX TRADING MAY BE TURNED COMPLETELY AS MINE WAS TURNED!
As I write this article, I stand not to persuade anybody to trade and I am not a financial adviser of how and where to put your money. It was during 2011 when my eyes were opened about Forex Trading, I was mentored by an expert in Forex trading, his name is Nicholas Shamnatis whom i still respect today, he was a chief client retention manager at easy- Forex during that interlude of time. He sent an email to me, saying, I Quote
By Siwele Aldrin Tinyiko
“It was my 2nd year with the company (easy- markets) in 2009 when I finally got to meet the guy everyone in the company was talking about. He was sitting right next to me in a casual restaurant in Shanghai. At 28 years old, I heard stories how his income fluctuated between an amount of $40,000 to $60,000 a month, which is about R560 000 to R840 000, he earned this for 2 consecutive years. Here are few ways to make money online
After carefully observing him, I gathered the confidence to ask him something about the direction of GOLD and what his opinion was. He looked at me and with broken English said “I don’t even know where the GOLD price is right now”. His answer stunned me! And made me never to ask more about his currency tradings and his affairs to the Foreign Exchange Market,
He had zero skills in FOREX trading but a huge network of people who would follow his recommendations as to which broker to trade with.
7 years later, he still doesn’t know the price of GOLD, yet that doesn’t matter. He is still our biggest Introducing Broker (I B)” close quote
Frequently asked questions
Many people ask whether Forex Trading is legit or not , they also ask whether is there honesty in the Forex market or it is just another scam trying to rob them their hard earned money.
A Forex Real Account is the live trading account whereby participants use real money to trade as opposed to the forex demo account. It is highly possible for traders to accrue profit while trading on the real account and also they may lose during this process.
A Forex demo account is the practice account made for all traders and no real money is involved with this account. The demo account is usually for learning and self development.
Forex Robots are a computer programmed devices to help traders Increase their profit capabilities. It is anticipated that people who trade using Forex Robots are more successful than people who trade using their own logic.
Tradingview is an an introducing broker of Blackstone Futeres which is the best Forex Broker we know so far and this broker was founded and registered in 2008. They have located themselves in Sandton South africa.
USD TO ZAR or USD/ZAR – These are two currency codes when compared or exchanged against each other, the (USD) is the United States of America currency code and the (ZAR) is the South African Rand currency ISO code. With this instance you may notice that the (USD) is compared or exchanged against the (ZAR). Take note not to confuse the USD/ZAR with the ZAR/USD, this comparison are totally different to each other
ZAR is equal to 0.08, meaning you can’t buy or exchange USD with a single ZAR; you would need about 14.11 ZAR to acquire a single US dollar or 14.03 added to the 0.08 ZAR.
The South African Rand is the currency used in South Africa and it’s popular used code is a Zar, the value of a Rand has been fluctuating and was once equal to the Dollar in the year 1982, 1 USD was equal to 1 Rand, the Rand continued to have strength until South Africa was sanctioned due to apartheid, the Rand strength dropped until today, 2018 where it is trading at 1 USD = 13.12 Rand
In the year 2014 we apply and purchased www.afmforex.com and branded it as Advanced Financial Markets
Afm Forex is our first web visibility; it was based on applying Forex Trading services like mini Forex account, standard Forex account, and institutional account, affiliate accounts, Forex trading-Forex exchange markets, open demo and open live account
In the year 2016 we re-branded ourselves as Forexafrica .co.za. This is our second website based on Forex Trading issues and laws of South Africa, it was aimed at concentrating on Forex-Africa issues like offering free Forex training so people may learn about the price of gold, Forex investment, live Forex news, economic calendar, Stock Market Trading, During this time we have been an introducing broker of different Forex brokers. Many people we taught to understand the basics of Forex trading and the most objective was to train individual how to trade all Foreign Exchange Markets and how to trade successful using Robots and other winning strategies.
We have currently re branded ourselves by being visible globally, Usdtozar,com is our new brand name, we are expanding ourselves into a variety of topics.
We have evolved ourselves to be Tradingview and we are act as a world web financial encyclopedia website and we invite volunteers who are experts and scholars, researchers, bloggers, individual and others to contribute their knowledge in writing.
Need an expert or a seat to trade? you are more than welcomed to leave your contact info with tradingview and we will be in touch shortly
+ 27 82 373 1141