EFX Group - EFX invite you to experience convenience and Forex trading freedom like you’ve never known. Now you can trade how you want, when you want, from wherever you want. Not only that, but you get access to trade with qualified destinations and other customers without a deal desk.
The days of staying close to your computer in order to stay connected to your trading platform are over. Through our innovative technology, you can access your platform configured your way from any computer, anywhere in the world. Whether you are at home, on the road, or trading from your phone, you can now experience true direct access and ECN trading with no hassles. EFX Group - EFX have broken the barriers so you don't have to worry about technology problems to trade in the world's fastest growing marketplace.
Off-exchange Foreign Currency Trading is the simultaneous buying of one currency and selling of another. The foreign exchange market (FOREX) is the largest financial market in the world, with a volume of over $1.5 trillion daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another across the major financial centers.
Traditionally, investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971.
What is a pip?
Pip stands for point-in-percentage. The term used in currency market to represent the smallest incremental move an exchange rate can make. Depending on context normally one basis point (0.0001 in the case of EUR/USD, GBP/USD, USD/CHF and 0.01 in the case of USD/JPY).
Fixed spreads are a way for an FCM to markup or markdown the best bid or offer. FCMs do this to hide their fee into the price of the currency pair instead of displaying their best quote. Common sense tells you that no one works for free, so when you see an FCM claim they have “no commission” that should be a red flag. So how are they getting paid? Its simple... they are making money with the built-in markup/markdown in the spread.
Our FCM, MB Trading Futures, has nothing to hide. They offer tighter spreads with no markups/markdowns and openly display a low commission rate.
In the Forex market, trading is always in currency pairs, such as EUR/USD or USD/JPY. The base currency-the first currency listed in the currency pair-is the basis for the buy or the sell. As an example, the US Dollar is the base currency for USD/JPY (US Dollar/Japanese Yen). The current bid/ask price for USD/JPY could be 107.20/107.23, which means you could buy $1 US for 107.23 Japanese Yen, or sell $1 US for 107.20 Japanese Yen.
Availability of EFX Group CFD accounts, derivatives trading facilities, futures, traded options should be checked at site together with current status of stock broking and share dealing services, private banking or wealth management, check at the EFX Group website or EFX Group by phone.
These details could be out of date and EFX Group services may change. Information about EFX Group should be verified at the EFX Group website.
Visit the EFX Group website at EFX Group - EFX.
Trading derivatives such as CFD's, Forex, Futures, Options or Spreadbetting carries a high level of risk not be suitable for all investors. Losses can exceed initial outlay and traders should test systems, training and knowledge in a demo account with dummy cash.
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The speciality pensions advisor offers shares and fund trading via ISA and SIPP - provides regular share tips and fund recommendation plus free guides to economic outlook, pension and investment planning.