Forex Information
New to Forex
 Foreign exchange (forex) is the selling of a particular currency to someone (individual, company or bank) and in return the buying of the currency they are offering. For example, you travel from the US to England and upon arrival at the airport, you realize you need money to pay for the taxi to your hotel. You go to the foreign exchange counter and give them your U.S. dollars (USD), whether its cash, traveler's check or even your credit card, they give you the equivalent in British pound (GBP). In this example, you sold USD and bought GBP, while the foreign exchange counter at the airport sold GBP and bought USD simultaneously. The foreign exchange market is used by world travelers, individual investors, corporations, hedge fund managers, investment and commercial banks, and by each country's central bank (e.g. America's Federal Reserve). Being utilized by so many entities worldwide, the forex foreign exchange market is the world's largest financial market, which is probably what lead you to us in the first place.
But did you know that all of 2003 reported trading volume for the New York Stock Exchange (NYSE) of $9.6 trillion ($10.2 trillion for all of 2002) only equals one week's trading volume in the foreign exchange market. This is probably why so many banks and Fortune 500 companies heavily invest in this highly liquid market. (Click here to see Citigroup, Bank of America and HSBC's Forex trading revenue versus other investment vehicles). Unlike other financial markets , the foreign exchange market operates 24 hours a day, 6 days a week (2 p.m. on Sunday until 4 p.m. on Friday, EST), through an electronic network of banks, corporations and individual traders. Forex trading begins everyday in Sydney, moves to Tokyo, followed by London and then New York.
For more background about the foreign exchange market:
Ways to Diversify Into Forex
Self-Trading: Some investors like to be in control and want to place their own trades. For them, the forex market offers the liquidity and reliability which attracts individual traders as well as money managers, hedge funds and large institutions. Our clients can trade forex online with confidence. 24-hour commission free** trades are available in the currency market which is the most liquid market in the world. Clients have the ability to enter and exit positions at all times regardless of trade size.
Managed Accounts: Many investors do not have the time, experience or desire to trade with this intensity themselves in the forex market, but still understand how this market can be beneficial to their overall portfolio. Forex Managed Accounts were created for investors with risk capital who want to diversify their portfolio into this exciting market. Unlike mutual funds or hedge funds there is no long-term lock up periods and all or part of your funds can be redeemed rather quickly. Based on your long-term goals, risk tolerance and time horizon, we can assist you in selecting the right account option for you.
**Disclaimer: Trader pays a spread between the bid and ask spread
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