Start Your Trading on Forex Trading Platform at the Best Time

As forex is a 24-hour market, you can trade around the clock at any time you like. But this does not mean that every second is the best time for forex trading. Trading at the best time brings more possibility to profit, just like sowing in the right season for a better harvest. In order to see what time is best, firstly you have to know about the market sessions. The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. 

 
Tokyo session is sometimes referred to as the Asian session, since Tokyo is the financial capital of Asia. The main market participants during the Tokyo session are commercial companies and central banks. The liquidity in this session is not that high, as a result most pairs may stick within a range. This provides opportunities for short day trades or potential breakout trades later in the day. As the early time zone of a day in the world, moves during the Tokyo session can give reference for traders in latter sessions to organize and evaluate their strategies.
When Asian market participants are starting to close shop, European traders are just beginning their day. London session is also referred as European session. As London session crosses with the two other major trading sessions and London is the financial center in the world, the liquidity in this session is low and transaction cost is lower. It is normally the most volatile session. However, volatility tends to die down in the middle of the session, since traders often go off to eat lunch before waiting for the New York trading period to begin. Sometimes there will be reversal at the end of the session, as European traders may decide to lock in profits.

New York session has a high liquidity in the morning, as it overlaps with the European session. There is the chance of reversals in the second half of the session, as U.S. traders close their positions ahead of the weekend, in order to limit exposure to any weekend news.

Therefore, to choose the best time to trade on your forex trading platform, first of all, you need be clear about what market session to trade in. As for the specific time, it’s best to choose the overlapping time between two sessions, during which there are high liquidity and huge trading volume.

IKON Easter Promotion Rules

IKON Easter Promotion Rules are listed as below:

1. Each person can only register for one live account.

2. Only a maximum of 2 entries can be submitted into the promotion per person.

3. By registering for an account, you accept that all information must be true and accurate.

4. IKON Group reserves the right to withdraw any entrants if the participant breaches any of the rules above.

*Note: Those who open a live account during the duration of the promotion will be entitled to Double bonus. Terms and Conditions apply.

Things to Know before Opening Forex Account

If people are determined to trade forex, they need to open forex account first before trading for real. If traders look through the internet and it is not difficult to find out that traders are able to open forex account with a great number of forex brokers. But traders may wonder which forex broker they should choose to open forex account with and what should be noticed before opening forex account. Here are some tips on how to open forex account.

1. Open forex account with most reliable forex brokers

Opening forex account means that traders are willing to deposit money into the forex account. So it is important to open forex account with a reliable forex broker. How to choose a reliable forex broker? Traders may have different methods to find out reliable brokers to open forex account with; but there are several most commonly used way to distinguish reliable brokers: first, heavily regulated brokers tend to be most reliable brokers; second, comments on website, forums may help traders to find the most reliable brokers; last but not least, experienced traders’ suggestions are worth noting.

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How to Face the Loss in Forex Trading?

You must be pretty much clear that on one step into forex business with a guarantee of a successful trade. Imagine that being able to enter the market and have a 100% assurance that you will come out a winner. The concept is called arbitrage trading. An arbitrage opportunity exists when there are discrepancies in the market between brokers. So this is pretty much sure to say that you need to learn how to take a loss in forex trading.

A Simple Introduction to Best Forex Trading Tool-ECN

What is ECN?

ECN, short for Electronic Communication Network, is a forex trading tool that connects major forex brokers and individual traders so that they can trade directly between themselves without having to go through a middleman.

How does ECN work?

To trade with the forex trading tool-ECN, forex trader must open an account with a reliable forex broker that provides direct access trading. Traders can place orders into the ECN via a custom computer terminal or network protocols. The ECN will then match contra-side orders (a sell-order and a buy-order with the same price and share amount) for execution. The ECN will post unmatched orders on the system for other traders to view.

What the advantages of Electronic Communication Network?

To trade with ECN, forex traders should open accounts with a reliable forex broker that provides direct access trading with ECN. Today I will take Ikon ECN for example in order to give you a rough idea of what advantages of the great forex trading tool-ECN possesses.

The following is the advantages of trading with Ikon ECN:

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Steps in Forex

Sept5: Your next Step is to decide which Forex Trading platform to use. For beginners, let me say that by Forex Trading, means foreign currency exchange trading. When I say a platform I mean how your computer screen looks when you will be trading - the current buy and sell prices of the various currency pairs, how the currency pair which you bought or sold is doing (is it gaining or losing), how to keep track of your funds, etc.
Sept6: Learn a system which gives you an indication of when to enter and when to exit trades. Following the markets price action is a popular method that professional traders have been using for over a hundred years before charts, candlesticks, indicators inception.

What Forex Traders Should Know about Forex NDF

Forex NDF (non-deliverable forward) is a cash-settled, short-term forward contract on a thinly traded or non-convertible foreign currency such as Taiwan Dollar (TWD), Korean Won (KRW), Chinese Yuan (CNY), Brazilian Real (BRL), and Argentinean Pesos (ARS); the profit or loss at the settlement date of forex NDF is calculated by taking the difference between the pre-agreed upon exchange rate and the spot rate at the time of settlement, for an agreed upon notional amount of funds.

Forex NDF is normally quoted and settled in US dollars and forex NDF is usually used by corporations seeking to hedge exposure to foreign currencies that are not traded internationally such as Taiwan Dollar (TWD), Korean Won (KRW), Chinese Yuan (CNY) etc. Forex NDF is also prevalent in some countries where forward FX trading has been banned by the government (usually as a way to prevent exchange rate volatility).

Then how does forex NDF work? Here is an example:

Company A imports coffee from a Brazilian supplier at a total price of BRL 3 million. Company A is invoiced and the payment is due in 120 days (t+120). The Brazilian supplier wishes to get payment in US dollars in an amount equivalent to BRL 3 million. Thus company A is exposed to exchange rate fluctuations because the payment date is in 120 days.

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