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The 1971 abandonment of the Bretton Woods Accord and the subsequent unwinding of the system of fixed exchange rates gave rise to the foreign exchange market as we know it today.
Forex refers to the foreign exchange market, where brokerage firms and banks are connected over an electronic network that allows them to convert the currencies of countries around the globe.
The forex market is the largest and most liquid financial market in the world. The daily dollar volume of currencies traded in the currency market exceeds $1.9 trillion, many times larger than the combined volume of all U.S. equities and futures markets.
While forex trading used to be executed exclusively between government central banks and commercial and investment banks, trading forex has become increasingly accessible to private investors thanks to the PC and internet.
The most commonly traded currencies are the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. The FX market runs 24-hour hours a day, 5 days a week with continuous access to global dealers. Trading is not centralized on a physical location or an exchange, as with the stock and futures markets.
Foreign Exchange is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
For example, you would execute a trade when you expect the currency you are buying to increase relative to the one you are selling. If the currency you are buying increases in value, you must sell the other currency to close the position and take a profit. The first currency in the pair is called the base currency and the second is called the counter or quote currency. Usually the US currency is the base currency and quotes are given in $1 USD per counter currency, e.g. USD/JPY. The exceptions are the British Pound, the Euro and the Australian Dollar.
Understanding forex quotes: 1 unit of the base curreny = the exchange rate in the quote currency. Eg if EUR/USD is trading at 1.2762, 1 Euro will buy you 1.2762 Dollars.
Understanding contract size in forex trading: The contract size is normally a lot of 100,000. This means per standard contract you are controling 100,000 units of each pair, so if you are buying eur/usd you would be buying 100,000 euro's and selling 100,000 dollars simultaneously. For this contract size, each pip (the smallest price increment) is worth $10. Many firms offer mini accounts now where you can trade units of 10,000, where the pip value is $1.
Trading the Forex market allows very low margin requirements relative to other markets.
About us
is a worldwide operating financial services corporation specializing on supporting currency traders of each status of knowledge and experience with high quality online trading services. With a team of dedicated financial specialists and technical support personnel, FXcast operates globally as a market maker and principal counterparty to retail customers and corporate customers and institutional traders. Providing currency conversion services is the main concern of FXcast. FXcast has established itself as an industry leader by offering unique trading software which is highly secured and reliable. The range and capabilities of FXcast software fits to everyone's needs and can be operated manually or fully automatic with auto-trade capabilities.
Mission
Our mission is to provide the opportunity for individuals and corporate customers around the world to trade currency markets under the most favourable conditions, such as enjoyed by financial institutes, banks, or brokerage companies.
FXcast also offers customers to create and use automated trading systems and strategies to experiment with strategies, improve their trading skills and get acquainted with the system before buying and selling on a live market.
The Location
FXcast operates under the international regulations of the government of Antigua and Barbuda. These regulations are characterized by the traditional ethics and rules of the Commonwealth of Nations. This very British behavior is the fundamental basis of business and banking regulations. With its office in one of the most attractive areas of Antigua in Jolly Harbour FXcast is the best choice for Forex Traders throughout the world. Antigua is well known as largest offshore banking center and online gaming industry provider in the world, due to this fact the country has a perfect and reliable internet infrastructure. Trading offshore means you trade tax free! This is one of the reasons why customers throughout the world choose us to open accounts.
This Team makes FXcast unique
FXcast's multinational team consists of financial specialists and computer scientists residing across two continents and all time zones, giving FXcast the power to serve customers 24 hours a day with the help of our live support center.
The uniqueness of FXcast's approach is based on the synergy of financial professionals with over 20 years of combined experience in both trading and dealing, working together as one team with computer science experts to make FXcast's advanced trading platform even better. To achieve the best for customer's satisfaction, FXcast's financial and IT experts combine their skills, target-oriented attitude, team spirit and solid focus on the customer.
We are committed to employing people of integrity, initiative and the desire to preserve our culture of strong work ethic, value of ideas and responsiveness to customer's goals. Traders all across Europe, Asia and America have recognized that FXcast is focused on the development of long-term relationships with our clients.
Technical Innovation is the Key
FXcast continues with its commitment to technical innovation by regularly improving the trading platforms with the goal of providing individual traders the most effective and flexible trading platforms in the world. Each of the FXcast platforms are tailored to level of experience of the individual trader. Even novice traders will find a platform with FXcast to maximize their success.
FXcast is proud to offer some of the most advanced online trading platforms available. Historically, online traders have struggled with problems related to the trading platform, such as unreliable software, slow trade execution, incorrect price feeds and many other issues. FXcast has developed trading platforms and a special technical infrastructure combined with the best available data feed which all together releases our customers from those issues and reduces FX trading to the roots: making money by simply trading with the right strategy.
Customer Support
To provide quick response and high quality customer support, FXcast uses a unique next-generation online customer relationship management platform. FXcast customers enjoy the most responsive customer support available. Traditional phone-based customer support requires customers to make long international calls that would over time incur high cost on the customer. With FXcast Customer Support, we can address any support issue quickly, efficiently, and in an affordable manner by using either the real-time Support Chat Channel or around-the-clock e-mail response.
Automation of Communication and Processes
Our full automation of open account procedures, deposits and withdrawals of money, online self-maintenance of customer's data and more makes it possible to minimize the time used for those processes to offer customers the best trading conditions and the fastest way of depositing and withdrawing of money.
We combine our market experience, expertise, and professionalism with the world's best online trading software. FXcast's trading and margin lines with leading banks and counterparties ensure your trades will be automatically executed and without slippage or downtimes on heavy market conditions.
High Availability and Reliability
FXcast ensures that customers experience the highest level of performance, reliability and securitywith our professionally managed network operation centers with fully redundant server arrays and redundant internet connections. Our technical staff is committed to provide a maximum uptime for FXcast's service and 24-hour service accessibility. The FXcast Trading platforms utilize industry-standard encryption technology to ensuret all communication between our customers and our servers is completely protected and confidential.
Security of Funds
Client funds held with FXcast are maintained in separate accounts at leading financial institutions for the sole purpose of the client's trading activity and are never commingled with operating capital of the company. Withdrawals from these bank accounts occur only as a direct result of client's trading activities or authorized requests for withdrawals.
FXcast utilizes transaction processing and integration services for both deposits and withdrawals, for purposes of getting one transaction stream and making the transaction processes faster, convenient and more efficient for customers.
International Regulations
FXcast is committed to assist governments in combating the threat from money laundering and terrorist financing activities around the world.. For that purpose, FXcast has set up a highly sophisticated electronic system to document and verify client identification records, while tracking and maintaining detailed records of all transactions FXcast carefully tracks suspicious and significant transaction activities, and reports such activities providing comprehensive advice to law enforcement. To uphold the integrity of the reporting systems and provide protection to businesses, government legislative framework provides legal protections to providers of such advices. FXcast is committed to regularly update its electronic system for inspection of suspicious transactions and for verification of client identification records, in accordance with any new regulations as they are publicized, as well as providing training for its employees on enhancements to anti-money laundering procedures that may be required by new regulations.
The Difference FXcast
* Provides the best available technology and infrastructure
* Is committed to the highest international standards for security and regulations
* Has fully automated online processes for best customer relationship management
* Offers trading platforms for each trading experience levels
* Is setting new standards in Forex Brokerage
FXcast will not fight within the worldwide discount battle of Forex Brokers. FXcast offers the best available service and technology for the best possible price. We think that high quality service, premium technology and our customer first approach make FXcast your best choice.
This is our mission. Try us and you will see.
Your FXcast Team
Article source : http://www.fxcast.com
