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Online Forex -Currency Trading
Foreign exchange currency
trading is also known as Forex trading, or FX, and has no single
physical marketplace like the New York Stock Exchange does on Wall
Street in New York or the Tokyo Stock Exchange does in Japan. The
New York Stock Exchange and the Tokyo Stock Exchange online traders
are limited to making purchases during the actual trading hours
governed by New York Stock Exchange hours or the Japanese Stock
Exchange?s Tokyo hours. In contrast online Forex trading gives
traders access to the online Forex trading community through an
electronic series of different online trading platforms. Online
Forex trading and online accessibility are nicely compatible because
the world?s foreign currency exchange market is a 24-hour market,
and the internet makes online forex trading a 24 hour possibility
open to anyone with a computer, a telephone line and money. Anyone,
any corporation or any bank can log onto an online account at any
time, and trade foreign currency through online forex trading.
Online forex trading is primarily the purchase of one currency from
a particular country, using the currency of a different country.
This exchange involves currency from two different countries at
once. It can mean purchasing Japanese currency with Australian
currency or purchasing German currency with Spanish currency. While
that sounds simple, in fact, approximately $1.9 trillion is traded
on Forex daily, making Forex online trading the biggest exchange
worldwide. Although anyone can participate in Forex online trading,
the key players are usually banks ? commercial and investment ? and
exchange traded futures and registered futures commission merchants.