There is a common misconception that the Forex market is open 24 hours a day seven days a week. Theoretically the global Forex market is open 24 hours seven days a week but an individual is still limited to the hours he can trade. Opposed to other regulated markets such as that of the stock exchange the Forex market is a network of financial institutions and retail trading brokers which gives them the ability to create their own hours of operation. Forex hours of operation are in accordance to their time zone. Most establishments trade between the hours of 8 a.m. to 4 p.m. relative to their local time zone. Governments / Central banks - A country's central bank can play an important role in the foreign exchange markets. They can cause an increase or decrease in the value of their nation's currency by trying to control money supply, inflation, and (or) interest rates. They can use their substantial foreign exchange reserves to try and stabilize the market.
To position Buy 3 lots USD/GBP, the transaction volume is 300,000 USD. Considering that for a USD 100,000 transaction size commission is charged for both opening and closing the position at USD 5 each, for this transaction it will be: 2 x (5 x 300,000 / 100,000) = 30 USD. The commission fee is deducted from the account during the opening of the transaction for both the operations at once (opening and closing).
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Forex can seem to be tough at the first instance to a new investor but once you have understood the process of the trading,then it is all about making the right decision and earning a handsome profit. with various fundamental and technical analysis tool available in the market,a careful investor can make huge profit by trading currencies. A small margin deposit can control a much larger total contract value. That Is what we call 'Leverage'.
For a Buy 2 lots EUR/USD� position the transaction size is 200,000 EUR which corresponds to 220,000 USD, given a EUR/USD exchange rate of 1.10000. Considering that for a USD 100,000 transaction size commission is charged for both opening and closing the position at USD 5 each, for this transaction it will be: 2 x (5 x 220,000 / 100,000) = 22 USD. The commission fee is deducted from the account during the opening of the transaction for both the operations at once (opening and closing).
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