Tuesday, April 28, 2009
Forex Trading characteristics
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is not a single dollar rate but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. A joint venture of the Chicago Mercantile Exchange and Reuters, called FxMarketSpace opened in 2007 and aspires to the role of a central market clearing mechanism.
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ReplyDeleteAnyone who has practical experience of binary options vs spot forex will probably be accustomed to the notion of using support and resistance to assist them in their daily trading decisions. Technical analysis can be used in binary options in order to identify the price movements as a means of analyzing the future direction of the prices.
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