FAQs
Frequently Asked Questions about Forex
If you don’t understand some aspect of Forex trading or have some specific
question about Forex, perhaps, you will find the answer to it here. This FAQ
was compiled by Forex Nigeria to answer the most frequently asked questions and
explain the basic concepts of Forex market.
- What is a pip? Pip — the minimal difference in the currency pair’s
prices. For EUR/USD 1 pip is 0.0001, for USD/JPY the pip is 0.01. Basically it’s
just the smallest fraction in the currency’s price. If you want to calculate the
value of a single pip for various currency pairs, you can use pip value calculator. - What is a spread? Spread — a difference between buy and sell (bid and ask)
prices for a certain currency pair. Forex brokers earn money with currency pairs
spreads. The lower is the spread the better it is for traders. Good value for
EUR/USD spread is 2 pips. - What are long and short positions? Long positions are those that are entered when you buy
a currency pair and earn profit when it goes up. Short
positions are entered when you sell a currency pair and earn from it
going down. - What is a stop-loss and take-profit? Stop-loss — a parameter of your Forex position, a certain
price level, in case it is reached the position will automatically close. It
serves to protect you from excess losses and helps you to automate your
trading. Take-profit is also a parameter of a position, if
the price of the currency pair reaches this level it will automatically close.
Take-profit helps to get the exact profit you are set to and protects you
against price roll-backs. It also helps you to automate the trading. - What is a trend in Forex? Trend — a pretty long sequence of the price changes that clearly (more or
less) identify a price movement towards a certain direction — up or down. The
opposite of a trendy market (when you the price is predictable) is the
ranging market, when the market is moving sideways. - What is leverage? Leverage — is the multiplier which is applied to the money
that you spend to open a positions. Broker “lends” you the leverage money, but
his loss is limited with your margin. Basically it works this way: with leverage
1:100 you can use $1 to open a $100 position and every pip will be costing you
100 times more in both cases — loss or profit, and you can’t lose more than your
current account is. Leveraged trading can be extremely profitable, but it can
also bring big losses, so don’t forget to use stop-losses on your every
position. - What Forex brokers are good? You can find a of the reliable Forex broker here.
- What are other good sites to learn Forex? More useful on-line resources about Forex trading can be found here.
- What is Marketiva? With more than 610,000 serviced users, 350,000 unique and live trading accounts, and more than 3.7 million live orders executed each month, Marketiva is one of the most popular over-the-counter market makers in the world.
- May I open a test account and try the system first? Because live and virtual trading desks co-exist within one Marketiva account, you may try our system with a regular account and later use the same account for live trading. In any case, you can open your Marketiva account for free!
- How much money do I need to start trading right now? With its flexible quantity specifications and $5 cash reward, Marketiva allows you to start trading with no money down. Due to strict lot specifications, many other over-the-counter market makers require at least $500 to start with.
- Where and how do I start? Before you can start trading, you need to open an account with us (it is free) and download our trading platform (Streamster). To open your account, please visit:
https://www.marketiva.com/index.ncre?page=open-account
and to download Streamster please visit:
http://www.marketiva.com/index.ncre?page=downloads page. - How secure is your software? Streamster uses industry-standard 128-bit SSL (Secure Sockets Layer) to encrypt the communication between you and the Streamster Server. Streamster protects your privacy by encrypting any and all data received and sent between Streamster and the Streamster Server, and by verifying the identity of the Streamster Server prior to any communication.
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