Forex Brokers - Helping to Maximize Your Success

A Forex broker is a broker dealing in foreign exchange, just like real estate broker who deals in real estate and properties. Simply, a Forex broker is an advisor who advises you about the forex market. However, the Forex market is not the perfect place to play with as a novice and beginner as there are many criticalities involved along with much risk bearing capacities. Novices can very quickly get their fingers badly burnt. But inexperience is not the only reason to consider using a Forex broker to trade in the high-risk international currencies market.

So, the Forex broker is an advisor who advises you about the forex market and allows you to work for 24 hours a day with major currencies like EUR, JPY, GBP, CHF etc against the US dollar on the spot, i.e. according to the current prices on the forex international exchange market. But the level of profits depends only on your abilities as well as your timely decision.

Although the role of the Forex broker is relatively redundant as a result of technological advancement and increased awareness, we cannot completely underestimate his role. The new paradigm shift has had something of a democratizing effect on the financial markets, and in the years that have followed a plethora of banks and brokerages have extended the range of their services to a new market by packaging up their online trading systems for the retail market, enabling the more modest investor to trade from their own computer screen - even on the previously out-of-reach currency markets. This is where the real role of Forex broker starts.

PIP is nothing special but Price Interest Points. In the forex market, currencies are always priced in pairs. The quoted price is the level where we, acting as the market maker, are willing to buy/sell the currency pair. In the wholesale market, currencies are quoted out to four decimal places, with the last placeholder called a point or a pip. A pip in most currencies is one /10,000th of an exchange rate (in USD/JPY, it is one /100th, likewise you can find for others).

Let's see some more information about Spread. As with all financial products, forex quotes include terms like 'bid' and 'ask"'. The 'bid', in its simplest terms is the price at which a dealer is willing to buy (and clients can sell) the base currency in exchange for the counter currency. The 'ask' is the price at which dealer will sell (and clients can buy) the base currency in exchange for the counter currency. The difference between the bid and the ask price is referred to as the spread. The spread defines the trader's cost, which can be recovered with a favorable currency move in the market. The value of a pip is determined by the pair of currencies being traded, the rate at which the currency pair is trading and the size of the position being traded.

There are many great Forex brokers, like COESfx, who maintains tight, competitive spreads in the four major currencies against the Dollar, and a total of 17 currency pairs including USD/CAD and AUD/USD. Some of the major features of COESfx are:

Real-time streaming prices

Price certainty on market orders

Competitive pricing

Fixed 3-5 pip spreads

For details, about this forex broker as well as their offerings, please visit: http://www.coesfx.com.

Anthony Trister is a currency trader and is an owner of OneDayTrades which offers free, mechanical forex signals and an automated trading program for those wanting to trade forex. Free access available here: http://www.onedaytrades.com

---

Money Management - The Holy Grail Of Trading

Money management determines how much to risk on each individual... Read More

How To Control Fear And Greed In Trading

There is an old saying that the market is driven... Read More

What I Learnt Losing £60,000 My First Year as a Full-time Trader

During my first year as a local (independent trader) on... Read More

Choosing A Forex Broker

With currency trading becoming ever more popular, the number of... Read More

Getting a Forex Trading Education

Many Americans are interested in getting involved in forex trading.... Read More

Forex Profits

The Forex Market-What, When and Why?Forex, FX and the Forex... Read More

Forex Trading Systems

The foreign exchange currency market is the largest market in... Read More

Disgruntled

The following situation happens quite often to many traders. Look... Read More

Discovering Turnaround Candidates

There are many types of investment methodology out there. All... Read More

Intrenet Marketing VS Forex Currency Trading

Have you noticed that when someone's trying to sell you... Read More

Forex Made Easy for Everyone

Forex made easy is as simple as you would want... Read More

A Look at Online Forex Brokers

An online forex broker is a firm that facilitates retail... Read More

Online Stock Trading: Freedom of Trade

I remember the first time I started to trade online.... Read More

New Opportunities with Forex Trading

The simplest definition of currency trading is the practice of... Read More

Risk and Stock Trading Fees: The Two Barriers To Overcome If You Want A Successful Trading Career.

You know the old joke:"How do you make a million... Read More

The Yin and the Yang of Markets

I am reading a fantastic book on trading, first published... Read More

Forex Trading

Foreign exchange market, or better known as FOREX, is the... Read More

Trading Timeframes

Long TermLong term traders will work from end of day... Read More

How Currencies are Traded in the FOREX Market

Currencies are traded in dollar amounts called "lots". At 100:1... Read More

Online Forex

Q1: When you consider that the foreign exchange market has... Read More

Day Trading the Index Futures - How to Judge Good Entries

QUESTION: If the SP futures fall through support and go... Read More

E-currency Exchange Trading

If you are reading this article you are probably one... Read More

Your Mother Could Make Money In Forex Trading

The question would be not whether she could but rather... Read More

A Fools Game

I received an email this week with a question (below)... Read More

Forex Options Market Overview

The forex options market started as an over-the-counter (OTC) financial... Read More

Option Arbitrage in the Forex Market

What is arbitrage? Arbitrage is the simultaneous buying and selling... Read More

Online Forex Trading

Foreign exchange currency trading is also known as Forex trading,... Read More

Stocks Trading - Advantages and Disadvantages

What is Stocks Trading?Companies throughout the world issue new stock... Read More

A Look at Forex Market Makers

The investor in the currency market takes for granted that... Read More

A Beginner?s Guide to FOREX

FOREX is the abbreviation for the Foreign Exchange market. FOREX... Read More

Commodity Trading - Advantages and Disadvantages

What Is Commodity Trading?Commodity futures markets allow commercial producers and... Read More

The Miracle of Forex

My father, who owns a small parts store and garage... Read More

Assessing the Opportunities Presented by the New Iraqi Currency

Could it be possible that you are staring right into... Read More