At XM we offer both Micro and Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions and leverage up to 888:1. The euro/British pound (EUR/GBP) currency pair may start to ease as speculators potentially reduce their record net short positions in GBP and increase their bearish bets on the euro. However, the long-term outlook on GBP remains uncertain, so we are only expecting - at this stage - a moderate GBP recovery relative to EUR.
When choosing a forex software client, you will also need to consider its ability to provide you with real time quotes - this is an important aspect in forex trading since getting pertinent information as soon as you can provides you an edge and gives you the ability to quickly buy and sell currencies on the market.
Please Note: The time indicated herein is in GMT time zone (Greenwich Mean Time). You will also be familiarized with the terminologies used in the Forex Marketplace. Even the basic knowledge about Trading in the Forex Marketplace can be a great help with your money-making venture in the world's largest Marketplace.
A foreign exchange or forex software system can give you the capacity to get all the information you need on the current market prices as well as participate in trading activities in a fast and easy manner. Brokers will typically keep your client data on two separate servers located in different sites to provide security and data redundancy. This is an added precaution to avoid any loss of data and service in the event of system failure which may happen due to unforeseen circumstances such as power loss. Brokers also back up your information on a steady basis to make sure no data is lost.
The Financial Stability Board, a watchdog that advises the G20 finance ministers, has set up a task force to recommend reforms of the forex market. As a result, the window in which the daily 4pm fix is calculated has been extended from one minute to five minutes. This makes it harder to manipulate.