Choosing A Forex Broker

Foreign exchange is not traded on an exchange, which means that prices you see and get from one broker could vary from those of another broker. There are mainly two types of brokers: ECNs (Electronic Communication Networks) and Market-Makers.

Market-makers ‘make’ or set the prices on their systems based on what they think is best for themselves as the counter-party.

ECNs, on the other hand, pass on prices from several banks and market-makers, as well as from the other traders in the ECN, and display the best bid/ask prices based on these input.

Compare Forex Brokers

Advantages Of Forex

The forex market is unique in that traders can access a 24-hour market very conveniently, without having to wait for the markets to open. At any time, there is always a major financial center open where banks, hedge funds…

More Advantages Of Forex

Forex Basics

What is a Pip? A “pip” is the smallest price unit in any currency pair. For example, a movement from 1.5210 to 1.5211 in EUR/USD is one pip, making a pip equivalent to 0.0001. On the other hand, a movement from 105.35 to 105.36 in USD/JPY is also one pip, making a pip equivalent to 0.01.

Learn More About Forex