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The Industry

The Inter Bank Foreign Exchange Market (IBFXM or FOREX market) is an international market place where trading takes place on the world’s major currencies such as the United States Dollar, the Swiss Franc, the Euro, the Japanese Yen, and British Pound. The Currency Market is made up of approximately 5000 Trading Institutions. International Banks, Government Central Banks, Commercial Companies, Brokerage firms and Individual Speculators.

Forex trading is not bound to any one floor or specific market and is done electronically between networks of banks continuously over a 24-hour period. There is no centralized location for trading activity and trading occurs over the Internet at locations worldwide. NOTE: This makes currency trading risky, and one should take this into account before venturing into this market.

The advent of the Internet has opened a whole new world for the small investor allowing him to trade this profitable market place from the comfort of his dwelling or office. All trades are calculated on very sophisticated trading software systems and finally executed via a designated dealing desk.

How does Forex compare with other financial markets?

The Forex market is open 24 hours a day, 5.5 days a week. Because of the decentralized clearing of trades and overlap of major markets in Asia, London and the United States, the market remains open, liquid throughout the day, and overnight. Most other markets are dictated by the time zones of their trading locations.

Forex is commission free - most financial markets may incur commissions, clearing-and exchange fees.

There are no restrictions on short selling and stop orders in Forex as there are in the other financial markets.

One 24-hour a day consistent margin rate allows Forex traders to leverage their capital more efficiently with as high as 100-to-one leverage.

With a start up requirement of $2500 for a standard trading account and $250 for a mini account, Forex trading is much more accessible than other markets with high margin rates and huge capital requirements.