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Mark Smith

  • sirkodua101цитирует5 месяцев назад
    Forex markets are platforms wherein banks, governments, businesses, traders, and investors meet to buy and sell foreign exchange or forex for short. Forex markets are open for business 5 days a week and 24 hours a day.
  • sirkodua101цитирует5 месяцев назад
    Important forex markets are located in New York, London, Zurich, Tokyo, Hong Kong, Frankfurt, Sydney, Singapore, and Paris
  • sirkodua101цитирует5 месяцев назад
    Back in 1876, the gold standard system was set up which made it mandatory for all nations to back their currencies with solid gold
  • sirkodua101цитирует5 месяцев назад
    This system was called Bretton Woods monetary system.
  • sirkodua101цитирует5 месяцев назад
    971, the United States of America stopped using this system and adopted fiat money instead. In “fiat money” system, the government declared the currency as legal tender and it does not need the backing of physical gold or silver. The value of the currency is arrived at by the relationship be
  • sirkodua101цитирует5 месяцев назад
    between the demand and supply of the currency.
  • sirkodua101цитирует5 месяцев назад
    nce fiat money translates to the currency, which the government “orders” to accept as a form of payment or legal tender.
  • sirkodua101цитирует5 месяцев назад
    US Dollar – USD
    Euro – EUR
    Japanese Yen – JPY
    British Pounds – GBP
    Swiss Franc – CHF
    Canadian Dollar – CAD
    Australian Dollar – AUD
    New Zealand Dollar – NZ
  • sirkodua101цитирует5 месяцев назад
    urrency pairs – In the forex markets, rates are always quoted using currency pairs. This is because you are buying one currency by paying for it in the other currency.
  • sirkodua101цитирует5 месяцев назад
    Dealers – are also known as “market makers” because they “make the market” for you. They act as counterparties for you and quote a price that they will do the transaction at. Dealers make their money on the spread or the difference between the buying and selling price.
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