Currency trading starts with having a trading account that is often managed by a seasoned broker/trader. The term broker is a misnomer because brokers in the strict sense earn commissions from selling and buying movements. In forex trading, you earn or lose without these standard commissions.
Currency futures fall under forward currency contracts. They however have specific contract sizes ,maturity dates and are traded in a formal exchange. Most currency futures are traded in the Chicago Mercantile Exchange.
When most people talk or write about Forex, they are referring to the spot forex(See below). However, there are three different type of currency investing markets that you should be aware of:
Of course you want to be rich who doesnt? The thing is, with gas prices soaring right through the roof and daily expenses becoming too much to bear, only very few people can become rich. Continue reading “Foreign Currency Trading Your Guide To Becoming Rich”