NetPicks is an online trading strategy company that enables easier foreign exchange trading and currency trading. NetPicks was founded by Mark Soberman in Irving, Texas. The staff is filled with knowledge unveiling the mysteries behind forex trading. NetPicks led the way for other online trading ventures when they opened their doors for business in 1996.
- The U.S. dollar versus the Yen (USD/JPY)
- The Euro versus the Yen (EUR/JPY)
- The Pound Sterling versus the U.S. Dollar (GBP/USD)
- The U.S. Dollar versus the Swiss Franc (USD/CHF)
- The U.S. Dollar versus the Canadian Dollar (USD/CAD)
- The Australian Dollar versus the U.S. Dollar (AUD/USD)
- The U.S. Dollar versus the Mexican Peso (USD/MXN)
NetPicks gives traders an opportunity to trade currencies via electronic over-the-counter financial exchanges in the major cities of New York, Paris, London, Tokyo and Sydney. Because trading takes place all over the world, web-based or Forex trading is a 24-hour business. Read reviews here.
The most common form of trading is making trades on the spot (spot trading). People also have the option of trading in the forward markets and the futures markets if they want to hedge their risks by trading in the forward and futures markets. What traders like about the Forex market is its high liquidity based on volatile price movements. Investors value the many financial opportunities presented by the quick price changes.
Forex traders are allowed to leverage. In leverage trading a trader is allowed to open a margin account and then spend a small amount of the total investment volume. Traders would need a broker to open a margin account.
A margin account enables a trader to need only $1,000 to fund trades valued at $100,000. However, if the investor does not profit from his trade, he must reimburse the broker. So, investors who have the means to pay back the borrowed funds should be the only persons using leverage trading.
New traders should study the Forex market before starting to make trades. NetPicks advises a strong education before engaging in trades. The more sound the education, the better prepared the trader is to succeed. Traders should have a very good understanding of the different elements involved in evaluating currency pair price fluctuations (dailyforexreport.com). One has to be familiar with how political news stories, monetary policies representing the various countries, political announcements and economic factors influence the fluctuating value of money.