Foreign exchange, or forex, is exchanging one currency for another at an agreed-upon price. Forex is a currency market where individual investors, banks, governments, and traders speculate on the price of one global currency against another. For many reasons, including geopolitical factors and economic factors, currency values rise appreciate and fall depreciate relative to each other. The goal of a forex trader is to profit from these changes in value by speculating on which way the forex price is most likely to turn.
For example, if the U. If the pound rises in value, the purchasing power to buy U. Like the broader stock market, forex trades are placed through a broker or market maker.
Orders can be placed online, wherein the broker passes it along to a partner to fill the position. When an investor closes the trade, the broker debits or credits the account with the loss or gain. Unlike most financial markets, which are tied to specific business hours, forex, because there is no central marketplace for currency exchange, is open 24 hours a day, five days a week.
Forex trading is the largest financial market in the world. To become a forex trader in Toronto, you need to have a comprehensive understanding of the different factors and events that impact global currencies. Investors also have to have focus and patience. Unlike the stock market, however, there are no bull markets or bear markets with forex. A forex trader in Toronto can potentially make money in either direction.
There are many other benefits to learning forex trading in Toronto. Unlike stocks, forex trades have low, if any, commissions and fees. Forex trading eliminates the middleman and allows forex traders to trade directly with the market responsible for pricing a currency pair. With forex trading, there are standard, mini, and micro lot sizes. In the futures market, contract sizes are determined by the exchanges. A standard contract for silver futures is 5, ounces. In forex, investors can determine their own position size.
Where some stocks can be manipulated because of their small volume, with forex, because the market is so massive and has so many participants, no one can control the market price for any extended period of time.
On top of that, forex trading is leveraged; for a small deposit, a forex trader can control a much larger total contract value. You will be glad you did! I wanted to let you know that I had taken your course in the fall of I took your advice and used demo accounts for the last quarter of I switched to real money trading account in the Near Year, when I finally felt comfortable.
Thank you very much — taking the Learn-to-Trade course was, by far, the best decision I made in my business career.
The past options and forex tutorials taught by George were very helpful. I find these tutorials invaluable for a busy person like myself. I was able to keep myself up to date and on track ready to continue the learning process. Thanks for all the help and keep up the great work. Learn to Trade provided me with strategy, self-confidence and discipline. I took your course in and loved it. Since then I have been using what I learned at Learn-to-Trade to nicely supplement my pension income.
Wanting a carefree type of trading, I have for the most part just sold options and made a monthly income which is a nice addition to my pension. I know I never would have made this kind of trading income without Learn-to-Trade.
Hi George, I just wanted to thank you again for the amazing work on the tutorials especially Options trading. Prior to joining, I had underestimated the quality of the trainings but they certainly far exceeded my expectations.More...