Guide To Currency Trading Forex

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&OREXˆ!&INANCIAL-ARKET"UILTON)NNOVATION

OMATTERTHESTATEOFTHE53$OLLARMOREANDMORESPECULATORSACROSSTHEGLOBEARETRADINGTHEWORLDSCURRENCIES

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"RIEF(ISTORYOF&OREX

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4ODAYS&OREX

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4RADING&OREX

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(ISTORYOF'LOBAL&OREX4RADING

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MARKETS&OREIGNEXCHANGEANDMONEYMARKETSARELIQUIDWITHACTIVEPARTICIPATIONBOTHFROMONSHOREANDOFFSHOREINVESTORS
4HEFIXEDnINCOMEMARKETISALSOWELLDEVELOPEDWITHATERMSTRUCTUREOFUPTOYEARS4HE)NTERESTRATESWAPMARKETISALSO
DEVELOPINGFASTANDBECOMINGLIQUID4HEREARERESTRICTIONSFOROFFSHOREINVESTORSBUTTHESEARERARELYENFORCED

4HEh!VERAGE"ID/FFERvLISTINGSABOVEAREILLUSTRATIONSOFHOWTHEAVERAGEPRICESORSPREADSOFALISTEDCURRENCYPAIRMAYAPPEAR4HEYDONOTHOWEVER
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(-0#"-'03&953"%*/(

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INTERNATIONAL
NORTHAMERICA
FAX

#/.4!#4

#URRENCY

1UOTATION#ONVENTION

-OSTLIQUIDCROSS

"EST,IQUIDITY

!VERAGE"ID/FFER

PIP

!VERAGE$AILY4RADING6OLUME

3OUTH!FRICAN2AND

DECIMALPOINTS

53$:!2

n'-4

PIPSn

:!2

53BN

3ETTLEMENT

4RANSACTIONPLUSTWODAYS4

30/4

'&4&OREIGN#URRENCIES'UIDE3OUTH!FRICAP

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'& 4

&OREIGN#URRENCIES'UIDE4HAILAND

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(-0#"-'03&953"%*/(

XXXHGUGPSFYDPN

INTERNATIONAL
NORTHAMERICA
FAX

#/.4!#4

#URRENCY

1UOTATION#ONVENTION

-OSTLIQUIDCROSS

"EST,IQUIDITY

!VERAGE"ID/FFER

PIP

!VERAGE$AILY4RADING6OLUME

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DECIMALPOINTS

53$4("

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4("

53nM

3ETTLEMENT

4RANSACTIONPLUSTWODAYS4

30/4

'&4&OREIGN#URRENCIES'UIDE4HAILANDP

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'& 4

&OREIGN#URRENCIES'UIDE4URKEY

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(-0#"-'03&953"%*/(

XXXHGUGPSFYDPN

INTERNATIONAL
NORTHAMERICA
FAX

#/.4!#4

#URRENCY

1UOTATION#ONVENTION

-OSTLIQUIDCROSS

"EST,IQUIDITY

!VERAGE"ID/FFER

PIP

!VERAGE$AILY4RADING6OLUME

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42,

53M

3ETTLEMENT

4RANSACTIONPLUSTWODAYS4

30/4

'&4&OREIGN#URRENCIES'UIDE4URKEYP


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