All you Need to Know About NetPicks

NetPicks

Providing Information Regarding Forex Exchange to Traders

Forex trading can also be referred to the foreign currency exchange or FX trade. In this case, Forex traders transact currencies based on the speculation they hear regarding on the possible Forex changes. Foreign currency exchange provides traders with an ideal opportunity to trade Forex in decentralized markets.

NetPicks allows traders to do their foreign currency transactions through their online platforms or over the counter platforms available in major cities such as New York, Sydney, London, Tokyo, and Paris.

Through the provision of charts and live signals, traders using NetPicks can transact Forex 24 hours a day. This can be done through their online platform or day transactions in the highlighted cities. Most Forex traders opt for on spot trading. Nevertheless, you are given a chance to explore other means of trading such as forward or future markets. Most business individuals are advised to opt for future demands.

 

Characteristics of Forex Markets

Limited Trading Alternatives

Unlike the stock exchange markets where you are given a chance to transact unlimited currencies, Forex Markets operates with the limited number of coins.

 

The most negotiated currencies in the FX markets

 

The Sterling Pound vs. the United States dollar (GBP/USD)

The United States dollar versus the yen (USD/JPY)

The United States dollar versus the Swiss franc (USD/CHF)

The euro versus the yen (EUR/JPY)

The United States dollar versus the Swiss franc (USD/CHF)

The United States dollar vs. the Canadian dollar (USD/CAD)

The Australian dollar versus the United States dollar (AUD/USD)

 

High Liquidity

Traders prefer Forex markets since they benefit from the versatile changes in the price of currencies. The rapid changes in the number of currencies provide traders with financial opportunities. According to NetPicks, the Forex trading volume per day is approximately $5 trillion.

Common Terms used in Forex Trading

PIP or pip (Price interest point) – This refers to the gain or loss

Bid Price – this is a price that traders who want to sell their currency pairs. It is also the price in which buyers are willing to buy the currency pairs.

Ask Price – refers to the current price of the currency pair.

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