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What is forex?
The Foreign Exchange market, also referred to as the
"forex", “currency” or "FX" market, is the largest
financial market in the world, with a daily average turnover of
approximately US$1.5 trillion. Foreign Exchange is the simultaneous buying
of one currency and selling of another.
What is “demo” trading?
Demo trading is risk-free simulated trading. You may use
this to decide if Forex trading is for you, or to trial trading systems
before going live. The demo trading site provides all real data and free
charting facilities. Just keep in mind that the news feed on the demo is
delayed by a couple of minutes, which is not the case on a live
account.
You will need to register for "Demo Trading” and we will
forward you a User ID and Password. In addition you will get free access
to module one of our training and all our support functions. We recommend
that all potential traders should trial demo trading to familiarize
themselves with the workings of the software.
Click here to register for our free trial period.
Can I trade from anywhere in the world?
Due to the fact that the markets are available to
everybody 24 hours a day one can actually trade form anywhere in the
world. With Internet connections, your laptop, computer or even WAP
enabled cell phone you can trade from anywhere in the world.
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. Unlike any
other financial market, investors can respond to currency fluctuations
caused by economic, social and political events at the time they occur -
day or night.
What is the limited Capital required to start
trading?
Unlike most other businesses, forex trading does not need
extra money to grow your investment or substitute your business with cash
to expand your new plans. You simply grow your investment or new plans by
locking in profits from your trading account, and trading off your
profits. The minimum amount for the opening of a live account is
$2500.
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Is there a risk?
Yes there is. The common rule of "high yield, high risk"
is particularly prevalent. Trading with FOREX can be exceptionally
profitable, but subject to risk and therefore it is advisable that risk
capital should be used. It is important that you exercise good judgment
during trading and manage your risk according to the principles we will
teach.
The most common risk management tools in FX 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. We will teach you in our free online training where and when to
place your stops (Module 4).
Can I choose my lot size?
Yes. We offer what we call “Base 10 Trading™”, where you
are not locked into large minimum lot sizes, giving you extreme
flexibility when trading currencies. You are no longer restricted to trade
minimum lot sizes or deal with complex mini or fractional-based trading
accounts.
With Base 10 Trading™, you can adjust your lot size
either by using a minimum volume of 10 units or by trading with any
multiple of 10. Not only does Base 10 Trading™ give you more freedom, it
takes care of the inherent problems with forex mini accounts that can
cause you to over-leverage your trade. By setting the lot size, you are
setting the trade to match your own level of risk tolerance.
Once you
have set up your live account, we can change your lot size per
request.
I just downloaded your software. Can someone guide me
through it?
Yes. Our support team is available to answer any
questions you may have regarding the software. Feel free to use our “Live
Help” function or log into module one of our interactive training (which
you received with your free trial version of Dealbook FX), open module 1.8
and follow the interactive walkthrough.
How do I enter/exit a trade in case of a power
failure/computer crash?
Trades can be executed by phoning the 24-hour Global
Forex Trading Dealing desk. Global Forex Trading also offers a Wireless FX
trading option. GFT Mobile lets you connect through your web enabled
cell-phone, using 40-128bit encryption to securely check real-time prices,
place orders from any location, set price alerts and stay on top of your
account status, anywhere, anytime.
Click
here to proceed to our Mobile Trading section.
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