Forex

Founded in early 2006, Forex by PFX embarked on a mission to teach individual traders of foreign currencies the best and most consistent trading strategies available today. With all of the resources and relationships FPFX has built over the years, it's no wonder why FPFX has been able to teach individuals from home how to take advantage of market movements.

When selecting a FOREX educational firm, it's crucial that you find one that you can trust. Here at Forex by PFX, we pride ourselves in giving indivduals the support, tools, and education required to be able to learn the full spectrum of Forex related trading education. With forex professionals and successful traders teaching our clients how, when and why to enter trades, we represent one of the few successful forex education companies in the marketplace.

Our clients come from all walks of life and have a sincere desire to learn what it takes to make money trading FOREX. There are no pre-requisites to taking our courses, just a burning desire to learn and invest the time to become a true trading professional.

Here are some of our most successful clients

Here are some FAQ's

What is Foreign Exchange?

The foreign exchange market, also referred to as the "foreign currency," "forex" or "fx" market, is the largest financial market in the world with daily average transactions of approximately U.S. $2 trillion. The world's currencies are on a floating exchange rate and are always traded in pairs; for example, Euro/U.S. Dollar or U.S. Dollar/Yen. Foreign Exchange is simply the simultaneous purchase of one currency and selling of another. Where is the central location of the forex market? Forex trading is not centralized on an exchange, as with the stock and futures markets. The forex market is considered an over-the-counter (OTC) or "interbank" market, due to the fact that transactions are conducted directly between two counterparties over an online trading platform, electronic network or via the telephone.

Who are the participants in the forex market?

The forex market is referred to as an "interbank" market due to the fact that it has historically been dominated by various government central banks, commercial banks and investment banks. However, the percentage of other market participants is rapidly growing and now includes large multinational corporations, global money managers, registered dealers, futures traders, options traders and private speculators.

What are the most commonly traded currencies in the forex market?

The most often traded or "liquid" currencies are those of countries with stable governments, respected central banks and low inflation. Most forex transactions involve trading of the "major" currencies which include the US Dollar, Japanese Yen, Eurocurrency, British Pound, Swiss Franc, Canadian Dollar and the Australian Dollar.

How are currency prices determined?

Currency prices are affected by a variety of economic and political conditions, the most important of which are interest rates, inflation and political stability. Moreover, governments sometimes participate in the forex market to influence the value of their currencies, either by flooding the market with their domestic currency in an attempt to lower the price, or conversely buying in order to raise the price. This is known as central bank intervention. Any of these factors, as well as large market orders, can cause high volatility in currency prices. However, the size and volume of the forex market makes it virtually impossible for any one entity to "drive" the market for any length of time.

When is the forex market open for trading?

A true 24-hour market, forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. The forex market is typically open 24 hours a day from Sunday 5:00pm ET until Friday 4:00pm ET, except on scheduled holidays. However, exact times may vary by clearinghouse or dealer. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the exact time they occur - day or night.

What is the difference between an "intraday" and "overnight" position?

Intraday positions are all positions opened anytime during the 24 hour trading period. Overnight positions are positions that are still on at the end of normal trading hours (typically around 4:00 pm CST), which are automatically rolled-over at competitive rates (based on the currencies interest rate differentials) to the next day's price.

How is risk managed?

The most common risk management tools in forex trading are the limit order and the stop-loss order. A limit order places restriction on the maximum price to be paid or the minimum price to be received. A stop-loss order ensures a particular position is automatically liquidated at a predetermined price in order to limit potential losses should the market move against an investor's position. The liquidity of the forex market ensures that limit order and stop-loss orders can be easily executed during normal market conditions. Forex options are also commonly used to help manage and/or hedge risk exposure.
Placing Contingent Orders may not limit your losses to the intended amounts.

What margin rates are required to open and maintain a position?

Some brokers allow customers to execute margin trades at up to 400:1 leverage in the spot market (depending on what type of account is opened). This means that investors can execute trades worth $100,000 with an "initial margin" requirement of $500 or less. Our recommendation is to never leverage your positions more than 100:1, but rather suggest 50:1. If an account balance breaches the "maintenance margin" requirement the open position may automatically be closed (offset) at the current rate. At the discretion of the clearinghouses, maintenance margin rates may be increased from time to time, especially before a weekend or holiday, to account for unexpected price volatility that can occur while the markets are closed. Remember, increasing leverage increases risk.

How much money do I have to keep in my account once it is open?

Once your account is open, there is no minimum balance requirement beyond the margin rates for any positions held in your account.

Are there any monthly or annual account fees?

Most brokers do not require account fees for annual fees for forex trading accounts. However some will charge commissions for some transactions. Check with a potential broker before opening an account.

How quickly can I open an account and how soon can I begin trading?

New accounts can be opened and ready to trade in as little as 48-72 hours (with funds wired into the account).

 

 

Get In Touch

We will be happy to hear from you, no matter the subject. For contacting us please use our contact page or the info bellow.

(877) 866-2324
info@FinancialQuestConsulting.com

Get in touch!

We will be happy to hear from you, no matter the subject. For contacting us please use our contact page or the info bellow.

877-866-2324
support@precision-concepts.com