Is online forex trading permitted in india?
I want to know whether online forex trading is permitted in india.
and what are the related laws or rules? In which firms we can trade ? International or only Indian firms.
Forex Trading is absolutely allowed in India. There are no platforms that you are restricted to. The toughest choice you will have to make is whether or not to use a broker or save yourself the money and do it yourself. Doing it yourself can be very time consuming but there is a compnay that I know of that allows you to do it yourself and it only take 15-20 minutes per week to manage it. Check out http://wiseforexinvestor.com for more infromation about this company. They give you a free 15 day trial so that you can test it out and make sure it is what you are looking for. I have been using it for a while now and absolutely love it. I wouldn't trade any other way. If you have any questions please do not hesitate to call or email.
Rex White
503-922-1475
www.rexwhite@wiseforexinvestor.com
Keen to learn forex trading and trade from home?
Do email me at Renee_Loh@gmail.com. I trade forex for a living and do it from home. Committed to help beginners to get started on this, that is…if you are willing to try.
no thanks
what is the best training software for forex trading?
please don’t say demo accounts i have many i’m talking about training in trading stocks and forex by computer. What is the best software to learn trading stocks and forex.
You can probably look for on a reviews website and read what people think about each software.
For Forex I personally like Supra Forex.
Foreign Currency Trading on Google phone or iphone?
I do Foreign Currency Trading on Varengold Fox and i was wondering if anybody knew if you can do this trading on a google phone or an iphone or any phone what so ever.. any info would be nice thanks
I know you can do it on Bradberry, so I’m sure you can do it on a google phone or iphone. All you have to do is to link it to your tranding channel with Varengold Fox. Call them and find out the requirements.
what are the mechanics of doing currency trading?
Can someone with experience in this area please answer?
How does ‘currency trading’ work? What kind of brokerage account is needed? Do the standard brokerages houses do this? I have an account at Schwab.
What is “Forex”? How do I buy currency contracts?
Thanks for the help!
Great question Antonio.
The Forex (Foreign Exchange) market is the largest financial market in the world and is open 24 hours a day. In fact, the Forex market is larger than all other equity markets combined. Unlike stocks, there is no central exchange where Forex transactions take place. So retail Forex traders trade the Forex market through Forex brokers who provide pricing and facilitate the currency trades.
Forex is traded through the internet so you can trade it from anywhere you have internet access. You can leverage your Forex account many times its actual value (up to 400:1 but 100:1 is most common) which provides for great profit potential as well as great risk. Forex transactions are traded in pairs so for instance when you buy the EUR/USD you are buying Euros while simultaneously selling Dollars. Because you both buy and sell with each transaction you can make money no matter what direction the market moves.
It is also fairly easy (maybe too easy since many lose their money) to start. Most brokers only require a couple hundred dollar minimum. Also, almost all brokers offer free practice accounts with no time limit so you can practice until you are ready to go live. The one key to not losing your money is this: Don't start trading until you know what moves the market and how to trade it. If you start with live money too fast you WILL lose it.
Those are some basics to help get you started. Good Luck!
Why isn’t there a forex currency index?
Just like the stocks are combined into NASDAQ for example, then why can’t you combine the forex pairs and assign them a mathematical value???
Take a look here:
http://www.fxstreet.com/rates-charts/currencies-glance/
Fxstreet lists 34 forex pairs.
Benefits:
- Less risk.More pairs - less risk. Traders will take advantage because the market is open day/night in contrast to the daily trades among the stock market. That said, the forex traders gain several times more action with reduced risk, thanks to the combination of many pairs at once. No surprises anymore:Think about it: The european bank annouces higher rates, but the expectations were for lower rates. So, if you trade EUR/USD you will lose when you have selled. With such important news you will lose perhaps over 50 pips and if you trade on 100:1 leverage buying more than 1 lot…say goodbye to your money. Even without leverage the big players will lose, unless they utilize some industrial espionage 
to predict the rates that are going to be anoounced. So…if the one pair goes higher with 50 pips, else will go downtrend with 50, which keeps the balance. Of course if the balance is perfect 50/50 the index won’t move and you will not benefit at all :), but in case where you have 50/25 you get your 25 or less if your predictions are in the right direction.
There is one drawback, of course, like anything in life :): With so many pairs it will be impossible to rely on any news announcements. Your only hope will be the candlestick chart, perhaps combined with some additional mathematical technics(martingales, random walk avoidance, compound interest) and economical such(hedging, options..).
But isn’t the technical data the favourite to the forex traders?
So far, sadly there isn’t a “forex index” to my knowledge??? So the best you can do is simply make your own “portfolio” and assign it a mathematical value.
I plan to create a computer program(…a can do that ;), to calculate and trace such index value of about 40 forex pairs. If I succeed, I will post it here with link to website to see the index in action :).
Thanks.
As function of how the currency exchange market works it is not possible to make an “index” of foreign currencies as the value of each currency is relative to the currency it is compared to. This means that the same Euro for example may be worth $1.27 US dollars but at the same it it is worth, 122.40 Yen, and 0.8133 British Pounds. Thus a single index for a world wide market is extremely difficult and would in fact be useless, as there are too many currencies world wide to deal with. Further, which currencies would be chosen to make up the index and on what basis, and by who’s decision, under the authority of which country?
There is however an “index” of the U.S. Dollar which measures the dollar’s value against a “basket” of other currencies. The ticker symbol is NYBOT:DX. This allows you to see the strength of the US currency compared to a weighted geometric mean of the Japanese Yen, Euro, Great British Pound, Swiss Franc, Canadian Dollar, and the Swedish Krona.
I believe there are foreign currency brokers in the US that allow you to trade this fund as you would any other stock or index.
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