Forex Trade
Foreign exchange (Forex) is the world’s largest currency trading market and the world’s largest financial market. Currency is bought and sold in the forex market Besides, there is an opportunity to buy shares of companies like Google, Facebook, Microsoft, IBM, Coca Cola. In short, a forex trader has the opportunity to buy and sell shares of companies covered by the world’s largest New York Stock Exchange and UK stocks. Currency trading made easy at home with Meta-Trader software! Which is really awesome. Forex is currently the world’s largest liquid market – with no shortage of liquidity. Besides, there is no opportunity to syndicate by creating any kind of artificial crisis. The scope of the foreign exchange market (Forex) is global and many times larger than the world’s largest New York Stock Exchange. With proper training and guidance, any educated person has the opportunity to make a career in the world’s largest trading (forex) market in just 4 to 5 months. But remember, it is not possible to succeed in the trading (forex) market without some kind of training. Expecting such is nothing more than dreaming and wasting time. Forex trading should be the first choice for those who are considering a career in the internet world today. Because in the world of forex trading, after training a trader can go directly to income, unlike getting a job in another market place is a kind of golden deer.
A feature of forex trading is that income from forex depends on a forex trader. Because there is no need for bidding or competition for any type of work. Forex trader gets 24-hour income from any source of income related to forex market. Because currently there are many multi-faceted business projects based on the Forex market. Forex is not just limited to trading. There are multiple income opportunities so I welcome all my brothers and sisters who are thinking. Also, in today’s freelancing world, those who are not able to earn by learning different jobs, or are getting work by doing hundreds of bids, I request them to learn Forex. Forex is completely different from other ten online income sources and it is an exceptional market that will help you to build a career without any hassle. Also, I think your other online based job skills will be very helpful to get quick success in forex market. But remember that the Forex market is basically an investment market. A trader has to invest money to trade here.
Goal setting
Some forex traders fail because they try to run before, they can walk – we have many brothers and friends today who have failed. Those who try to advance in the market without any training in the forex market by reading only a few online videos or a book or two, unfortunately do not get very far. Because first they avoid training. There are also many who view coaching as gimmicky and hold a negative attitude. Their ideas are all available online, so why take training from others? This is the primary reason for their failure. However, after a certain time, they find out the root causes of their work failure and feel the need for training. But by then, a lot of time and money is wasted. And in special cases there are some superstitious people, who understand very little of everything. It means they are experienced in almost everything but the problem is they don’t know what they want and how to get it. As a result, they cannot enjoy the benefits of any source of income. Apart from this, extreme instability also works in them, like some days are busy with forex, some days are SEO, some days are web design, etc. and sometimes, leaving everything aside, this brother’s problem, that brother’s problem, etc., show thousands of problems to cover up their own failure, to other people who are on the way to success. So, there will be expectations for newbies. If you really want to build a career in the internet world, then definitely go ahead by getting involved with an experienced person or organization you know. Inshallah you will be able to improve very easily. In this case both time and money will be saved.
Forex trading opportunities in Bangladesh
Forex trading has earned a reputation as a reliable trading platform and versatile source of income in today’s world. Which we also got a touch of, it is a huge potential market. Forex can be a great help in solving our unemployment. Already many of us have been able to prove our position in this market of the world. Today investors from developed countries are considering highly skilled forex traders scattered around the world as their business partners. Which is great news for a middle-income country like ours. Besides, the annual average income of Bangladesh from internet-based income sources is 300 million US dollars. Our expectation is to generate one trillion USD in online revenue. Which is possible by the freelancers of our country. The foreign exchange market is a global decentralized market for currency transactions. It is the world’s largest currency market where currencies are traded against any currency through global online and offline broker houses of international standards approved by stock exchanges of various countries based on the given exchange rate. Trading is done by the bank. Although the forex market started as a currency market, it is not limited to the currency market. Today, all stocks and other components and the largest companies in the world are bought and sold on the forex market.
Who trades in the forex market
Banks: The largest player in the forex market is Interbank. A large part of the $5 trillion daily trading volume is mainly interbank. Because banks are big or small in size, they are engaged in buying and selling currency among each other through electronic networks. Besides, a larger part of the total currency of the big banks is reserved for currency trading. Banks generally facilitate forex transactions for clients and operate them from their own trading desks. They act as buyers and sellers in front of clients or institutions looking to profit based on the ups and downs of currencies. Their buying and selling pattern are usually presented to traders as a bid-ask-spread.
Central Banks: Central banks are one of the major players in the forex market. Various decisions, including the central bank’s interest rate determination in open market currency transactions based on floating-fixed and indirect exchange rates, play a role in determining the fate of many currencies and creating liquidity. Central banks are usually responsible for forex fixing because various central bank actions are usually taken based on the competitiveness of the country’s economy. Which will play a role in the stability or growth of the economy. That is why central bank’s monetary policy, foreign currency purchase, currency supply, etc. are considered very seriously in forex trading.
Investment Managers and Hedge Funds: Among the major market players in the forex market are portfolio managers and hedge funds. Those who usually invest a large portion of their pension and endowment funds in currency trading. These international quality investment managers usually manage large size accounts on behalf of various financial institutions. In addition, these investment institutions are interested in investing some part of their capital in any financial risk sector, they are present in the forex market as a hedge fund. Who are generally considered speculators in the forex market. Sometimes these speculations on fundamental events lead to major changes in the bull market. As a result, a very familiar market will sometimes become unfamiliar to you only because of these third-rate engagement manager companies.
Corporations: Another major player in the forex market is the business firm. Business firms make foreign currency transactions for importing and exporting goods and services. That is, when a country decides to import or export a product or service, both countries receive foreign currency assistance in exchange of money. Which is later converted into local currency. In the forex market, they are called corporate market players. Those who are obliged to buy and sell foreign currency for commercial reasons. Individual Traders: Global trading markets have millions of single traders from almost every country in the world. Those who trade in the market from different parts of the world through Meta Traders software. The role of these traders is mainly behind gaining popularity. Because in today’s competitive world there is no other trading market as big as Forex. Here any amount can be done from minimum 10 dollars to maximum. This is why most people in the developed world are involved in forex trading.
Forex Brokers: The foreign exchange market is a global decentralized market for currency transactions. They are mainly approved by stock exchanges of different countries. Although these brokers are generally online based, their overall operations are conducted officially much like a bank. Usually, looking at the official website of these brokers, it may seem like a small company of two or three people. In fact, these institutions are no less than the largest head offices of our country. The official website of Broker House is divided into different sections like Customer Support Center, Finance Section, Security Department, Technical Department etc. Each department is managed by different people.
Let us discuss the various aspects of the business operations of brokers in the market:
Introduction to Forex Types: Types are generally of two types.
1. Dealing Desk Broker
2. No dealing desk broker Dealing
Desk Broker: A dealing desk broker is a foreign currency exchanging company or institution. Who basically engages in currency exchange directly with a trader. In this case, even if the bank offers the prize of the fake currency quote, it is basically not associated with the bank. So, in taking your long position, the broker has started trading as a seller at the asking price. On the other hand, in taking your short position, the broker has initiated the trade as a buyer at the bid price. That is, in the case of dealing desk brokers, a trader’s counterpart is a direct broker.
No Dealing Desk Brokers: No Dealing Desk Brokers are essentially intermediary firms. They usually act as an intermediary between a trader directly with a bank or a counterparty trader in long and short positions.
There are two types of brokers in this category:
1. Electronic Communications Network (ECN)
2. Straight Thought Processing (STP)
Electronic Communications Networks: ECN brokers basically refer to brokers that connect one trader’s trades with the trades of a second counterparty trader in an electronic process. ECN brokers usually collect price quotations from various marketplace participants, resulting in faster execution of trades in the trading market. However, there are some ECN brokers who execute the trading market by directly transferring the trade to the liquidity provider if the client fails to connect the trade with the counterparty trader.
Straight Thought Processing: STP Broker is essentially a trading settlement process, where a broker mediates the electronic process between a trader and a counterparty interbank or liquidity provider. That is, a trader’s long or short position is executed directly in the trading market mainly on the prize provided by the third party. As a result, each trade of traders is transferred directly to the liquidity provider in an electronic process. Class brokers are usually associated with several banks. As a result, they offer multi-dimensional trading-centric benefits to global traders. That is why STP type is most popular.
Thank you
