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Versatility of the FX Market


20 May 2021

Some might ask why forex? Do the benefits outweigh the risks? Continue reading this quick guide on how the versatility of the FX market enables you to begin or expand upon your trading journey.

“The beginning is the most important part of the work.” -Plato

To begin with, FX, or Forex, means foreign exchange; essentially the exchange between foreign currencies from one to another. Many participate in Forex unknowingly by simply exchanging their home country’s currency for another when going on that very anticipated holiday planned for some time. Other foreign exchange occurs for practical reasons where firms must exchange currency for international business, purchases, and trade reasons.

Round-the-clock

The forex market operates 24 hours a day starting from 5pm EST on Sunday until 4pm EST on Friday. This enables the trader to not have international time zone restrictions. In fact, some FX platforms have 24-hour customer service, or portfolio managers working all sort of hours, just for this reason.

Let’s Talk Money

With the FX market there is no governance, meaning there is no overall regulatory authority or central banks overseeing the operation. Although, it must be noted that certain platforms are regulated and abide by certain securities and exchange commission regulations to uphold a higher standard. Furthermore, there are minimal transaction costs and, generally, no commissions involved.

Resources

Undoubtedly, eXcentral offers one-of-a-kind high quality resources for our clients. Ranging from weekly webinars, where our Market Analyst takes the time to host live sessions on a variety of trading topics, to the economic calendar, and even e-books and courses. The resources are just a few clicks away and shows just how inviting the FX market is to traders of all sorts.

Versatility

The FX market offers versatile options to trade with from the foreign exchange of course, but the platforms generally also have stocks, commodities, and cryptos as well. Overall, it is easy to see just how versatile the FX market is.

Overall, it is safe to say that the FX market has the least amount of barriers to new-comers and at eXcentral we create an environment with the tools necessary to soar. If you completely understand the risks and rewards, use the resources provided, and are prepared to trade, maybe it is time to consider joining the wonderful world of forex!

This article was written and submitted by eXcentral.

Disclaimer: This material is considered a marketing communication and does not contain, and should not be construed as containing investing advice or a recommendation, or an offer of or solicitation for any transactions in financial instruments or a guarantee or a prediction of future performance. Past performance is not a guarantee of or prediction of future performance.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.81% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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