Forex ¥¥ Trading ¥¥ Introduction {{ BD Forex School}}

The Fx market is open 24 hours a day, 5 days a week with the most important world trading centers being located in London, !!!New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney.

It should be noted that there is no @@central marketplace for the trading is instead said to be conducted ‘over the counter’; it’s not like stocks where there is a central marketplace with all orders processed ###like the NYSE. “BD Forex School” Forex is a product quoted by all the major banks,$$ and not all banks will have the exact same price. Now, the broker platforms take all theses feeds from the different banks and the quotes we see from^^ our broker are an approximate average of them. It’s the broker who is effectively transacting the &&&trade and taking the other side of it…they ‘make the market’ for you.

BD Forex School

 When you buy a currency pair…your broker is selling it to you, not*** ‘another trader’. In 1876, something called the gold exchange standard was implemented. Basically it said that all paper currency ++had to be backed by solid gold; the idea here was to stabilize world currencies by pegging them to the price of gold. It was a good idea in theory, but in reality it created boom|||||-bust patterns which ultimately led to the demise of the gold standard….. “ BD Forex School” The gold standard was dropped around the beginning of World War 2 as major European countries did not have enough gold to support all the currency they were printing to~~~ pay for large military projects. Although the gold standard was ultimately dropped, the precious metal never lost its spot as the ultimate form---- of monetary value.The world then decided to have fixed exchange rates HH that resulted in the U.S. dollar being the primary reserve currency and that it would be the only currency backed by gold, this is known as the££ ‘Brenton Woods System’ and it happened in 1944 (I know you super excited to know that).©© In 1971 the U.S. declared that it would no longer exchange gold for U.S.±± dollars that were held in foreign reserves, this marked the end of the Brenton Woods System.