Forex is the world market for foreign exchange trading and with a volume of financial transactions of more than at least $ 2 trillion per day, it is the largest financial market in the world.
Forex stands for Foreign Exchange and is a market that all banks (both commercial and central) and investment, large financial institutions, multinational corporations, traders, insurance companies, export, and import companies, retirement funds, speculators, and real persons in it in different currencies such as US dollars, Euros, Pounds, Yen, etc trade-in that environment.
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Forex Working Hours
The International Forex Market starts every Monday with the opening of the most eastern banks in the world. These banks start trading currencies and as a result, extract the exchange rate of currencies.
And traders in other parts of the world, if they decide to trade at that time (which is naturally out of business hours that time) must trade based on these Banks and other financial institutions in Asia, African countries will continue this process to reach the banks of Europe and the United States.
Of course, when the US market reopens, Asian, African markets end their day.
This cycle lasts five days a week without a second stop until Friday night. In other words, the largest trading market in the world is available to you 24 hours a day with very easy access and simple and fast trading.
Forex has crossed the borders of countries along with the Internet and has attracted many investors and enthusiasts from all countries and everyone can use the Forex through a service called Forex VPS.
The Importance Of The Internet In Forex
Due to the advancement of communication sciences and in this regard, the World Wide Web, people can now be in exactly the same situation with speculators, investment companies, etc.
Through brokers who connect to banks through the electronic network and at the moment, they collect exchange rates from different banks and by connecting to their own trading software (Platform), which they also provide to their customers, they send the exchange rates to the desired trading software through the Internet.
And customers also order they transfer themselves to the relevant broker through the same software.
The Importance Of The Broker In Transactions
Of course, it is also possible to use other means of communication such as telephone, fax, as well as some brokerages through the broker’s website (without using trading software).
With these definitions, it can be said that the intermediary factor between personal traders and the market is the broker, and the most important role of the broker is to transfer the trading orders of the trader to the global market.
Useful Software For Trading In The Forex Market
In order for the trader to communicate with the broker through the use of the Internet, the software is needed that can provide the information required by the trader and transfer the trading orders of that trader to the broker and the market. From the beginning of online transactions, various software has been designed and used by various agents.
The most important trading platforms used by banks, investment companies, hedge funds, and personal traders can be found in the trading platform.
Which recently launched a new version called Currenex Viking, which is still very popular in the capital market.
Bloomberg And Reuters Along With FXCM And Visual Trading
Other popular platforms include Bloomberg, Reuters, FXCM, and Visual Trading, which continue to be used by a large portion of the capital market and currency traders. Over time, newer versions have been designed that do not have the weaknesses of previous versions and are so-called user-friendly.
Of course, by choosing a broker to do transactions over the Internet, you need to use the software provided by the same broker. It should be noted that recently the Meta Trader software of the Russian company Metaquotes has been used by many brokerage firms.
The Importance Of Virtual Servers In Forex
Since the moment-by-moment analysis of the market 24 hours a day will require an uninterrupted Internet connection, virtual servers with Windows operating systems can be the best suggestion to strengthen your market power.
You can easily have a Windows virtual private server by connecting via remote desktop, install your desired software, including MetaTrader software on the server to launch the software at any time of the day and from anywhere. With the help of the Internet again connect to your server and review the reports recorded during this time. If you have never worked with a Windows server, some ISPs have provided you with the opportunity to build a Windows server for free and try this for the first time. Please share your opinions with us about u