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Basics of Trading

Market

The Forex Market is the Foreign Exchange market, the biggest market in the world with an average daily turnover of approximately 4 trillion USD. In a forex trade, you buy one currency while simultaneously selling another. Forex trading is used to speculate on the relative strength of one currency against another. The foreign exchange market is an over-the-counter market, which means that it is a decentralised market with no central exchange. Exchange rates are determined by supply and demand of each currency which is influenced by many factors such as world economic, currency rate differentials, political events, trade and speculation, etc. One of the advantages of the Forex Market is that trading takes place 24 hours a day, 5 days a week. Investors and traders can respond immediately to currency fluctuations whenever they occur, no matter whether it is daytime or night. The forex market is a highly transparent market. That means that all current market information and news are widely accessible to all participants. Automated trading is an FX trader who is logical, unemotional and tirelessly looks for trading opportunities.

Currencies

In a forex trade, you buy one currency while simultaneously selling another. Forex trading is used to speculate on the relative strength of one currency against another. Exchange rates are determined by supply and demand of each currency which is influenced by many factors such as world economic, currency rate differentials, political events, and speculation, etc. Seven currencies are the most actively traded, and they are called ‘the Majors’. As you can see, each currency is given a three-letter code.


  •   Euro (EUR)
  •   U.S. Dollar (USD)
  •   Japanese Yen (JPY)
  •   Swiss Franc (CHF)
  •   British Pound (GBP)
  •   Canadian Dollar (CAD)
  •   Australian Dollar (AUD)

Investment

Finally, it cannot be stressed enough that trading foreign exchange carries a high level of risk, and may not be suitable for everyone. Before you decide to open an account, you should carefully consider your investment objectives. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, we recommend that you seek advice from an independent financial advisor.