Thursday, June 03, 2010

General Forex Information

What do I need to do in trading?
Your goal in trading is to buy at a lower price and sell afterwards for a higher price. For example you can buy a market instrument (quantity of 10000) for 1.2349 and sell it later for 1.2458. You will make a profit of 109 (in currency the instrument is denominated in).

What can I trade on the market?
Marketiva provides spot forex trading services in the following currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, NZD/USD, EUR/JPY, EUR/GBP, EUR/CHF, GBP/JPY, AUD/JPY, CHF/JPY, GBP/CHF, EUR/CAD, EUR/AUD, AUD/CAD. There may be other instruments added in the future.

When is the market open for trading?
You can trade from Sunday 17:00 to Friday 17:00 New York local time. Virtual trading is open at all times. The following approximate market schedule is based on New York local time: Japan markets open at 19:00 followed by Singapore and Hong Kong that open at 21:00. European markets open in Frankfurt at 2:00, while London opens an hour later. New York markets open at 8:00 (NYSE opens at 9:00). European markets close at 12:00 and Australian markets start again at 18:00.

Is there an easy way to start trading?
The easiest way to start trading is to click on a market instrument in a price window. When [Send Order] dialog shows up, you can set [Quantity] field to 1 or more (depending on the amount of money you have on currently active trading desk). When you click button, the order will go into the market.

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