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For example, in Australia the regulatory body is the Australian Securities and Investments Commission . Say, for example, dotbig company that inflation in the eurozone has risen above the 2% level that the European Central Bank aims to maintain. However, if you have ever converted one currency into another, for example, when traveling, you have made a forex transaction. Connor is a Scottish financial specialist, with a particular focus on wealth management and equity investing. Currently based in Glasgow, Connor

Some brokers, such as Fidelity, have teams with 24/7 customer support available for queries at all times of the day, week or weekend. How high a priority this is, only you can know, but it is worth checking out. Diversity – Firstly, you have the pairs stemming from the eight major global currencies. On top of that, many regional currency pairings are also available for trade. Currency prices move constantly, so the trader may decide to hold the position overnight.

It requires a successful strategy, initial capital, and a sensible approach to risk. Most forex traders lose money and those that don’t are likely to be the first to say it isn’t easy. Most credible brokers are willing to let you see their platforms risk free. Try as many as you need to before making a choice – Forex and remember having multiple accounts is fine . Remember, you are not tied down to one broker so if you trade

However, before venturing into any exotic pairs, it’s worth putting it through its paces with the major pairs. A Trailing Stop requests that the broker moves the stop loss level alongside the actual price – but only in one direction. So a long position will move the stop up in a rising market, but it will stay where it is if prices are falling. It allows traders to reduce potential losses in good times, and ‘lock in’ profits, whilst retaining