Discover Forex trading in our Learn section. This is where you will find a series of articles that explain currency trading and the foreign exchange market.
Forex and ‘FX’ are shortened terms used for ‘foreign exchange’. Foreign exchange or ‘currency trading’ is the exchange of money from different countries. The value of one country’s currency is constantly changing against the value of another country’s currency. Forex traders make money through buying and selling currencies on the foreign exchange market.
Forex Instruments are the products or ways of trading in foreign exchange.
International currency prices are highly volatile and very difficult to predict. Due to such volatility, there is no system that can assure you that transactions on the foreign currency market should result in great benefits to you, nor is it possible to guarantee that your transactions would yield favorable results.
Yes, we advise all our clients that foreign exchange trading does involve substantial amount of risk. With Ritewigg Markets you cannot lose more than your ‘margin’, the money you are prepared to risk plus the daily rolling fee if you have entered a Day Trade transaction. Profits are unlimited but you can never lose more than what you initially risked. However, risk only what you can afford. Before you join you need to read our Disclaimer and Terms and Conditions.
There are many online platforms available to trade with. Some key points to look for in the platform you choose:
- level of personal service and support – live chat, SMS services
- personal training
- trading tools offered including charts, outlooks, news, financial calendars
- user friendly platform – can you do everything online or do you need to download software
- how quickly can you can start trading
- easy deposit methods – e.g. e-wallets such as credit cards, Wire Transfers
- 24 hour access to your account
- leverage offered
- tailor-made accounts and spreads
- real-time exchange rates
- no hidden costs – commissions on deposits or withdrawals
- no maintenance margins
- cost of renewal/rolling fees for Day Trades
- fixed rates and stop loss limits
- security and safety of the site and your information
- a company that has a regulatory license for your region
- genuine company with real people in real offices around the world.
You will find withdrawal forms in My Account in the Trade section of the website. To withdraw money you must have supplied the required documentation. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to bank account at company's discretion and policies and with regard to Anti Money Laundering (AML) regulations.
Bid is the highest price that the seller is offering for a particular currency at the moment; ask is the lowest price acceptable to the buyer. Together, the two prices constitute a quotation; the difference between the two is called the spread.