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FREQUENTLY ASKED QUESTIONS

What exactly is Forex or FX?
Forex is an acronym for Foreign Exchange and "FX" is an even shorter abbreviation. This is the worldwide cash Inter Bank or Inter-Dealer market that uses a floating exchange rate system. Most people have never heard of Forex. Yet, it is the world's largest financial market with an estimated daily average of more than $1.5 TRILLION. Some say that it would take the entire New York Stock Market about 3-4 months of daily trading to equal one day of trading in Forex!

   What are the primary currencies traded in Forex?
   For online brokers worldwide, there are four currency pairs that are heavily traded and that offer almost immediate liquidity: USDollar/Japanese Yen, USDollar/Swiss Franc, British Pound/USDollar and Euro/USDollar.    Where is the central location of the Forex market?
   The word market is a bit misleading in describing Forex trading because there is NO central location where trading takes place. The bulk of Forex trading is between approximately 300 large international banks that process transactions for large companies and governments. These institutions continually provide exchange rates for each other and the broader market. The most recent quotation from one of these banks is considered the market's current price for that currency. Trading occurs over the internet, by telephone, and through computer terminals at thousands of locations worldwide.    When does Forex trading occur?
   The first session, which is the Asian session, begins on Sunday evening at approximately 7:00 p.m. EST"USA". The second session, which is the London session, begins at approximately 2:00 a.m. EST. The third and final session, which is the New York session, begins at approximately 7:00 a.m. EST and ends at about 5:00 p.m. EST.    Why is Forex trading so popular?
   Forex trading is attractive because it offers unparalleled personal and financial freedom. A Forex trader, who trades for himself, can virtually live anywhere in the world as long as he/she is within reach of the internet. A Forex trader can work from home or office, and in some cases, even trade on the beach! A Forex trader can usually choose his/her own hours to work since the global foreign exchange market is open 24 hours a day. And finally, since Forex traders can potentially earn a very high income, they enjoy the possibility of never, ever working for someone else again!

How do I choose a reputable Forex Trading firm to Manage My Account?
While there are many Forex Trading firms who will be happy to manage an account for you, we strongly advise you to avoid any corporation who is not government regulated! Also, always ask to see a past performance record. If they show occasional losses or less than 50% gains per year, keep shopping! And if they don't offer some type of limited risk guarantee on your principal, once again, keep shopping! You can do MUCH BETTER!

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