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Pip Value
At Trader’s Way, Prime Online Forex and CFD broker, we ensure our clients have access to all the latest trading tools and applications along with the option of trading multiple instruments from a single account. We believe that all traders need to stay informed, of all aspects of the currency market in order to trade effectively. And as part of our ongoing edu series, here’s a recap on “Pip value”. In order to accurately work out the P/L position, traders need to calculate the value of the pip. Traders can correctly calculate the pip in terms of counter currency or account denominated currency using the example shown here.
Pip Value = Position Volume x Counter Currency 1 pip
As a result, you get 1 pip value in terms of the counter currency.
Example: Position 1 lot of EURUSD. Pip Value = 100,000 x 0.0001 = 10 USD
Pip Value in Account Currency = Pip Value / Account Currency-Counter Currency Rate
Example: Position 1 lot of EURJPY. Account Currency - USD. USDJPY = 80.00. Pip Value = 100,000 x 0.01 = 1,000 JPY. Pip Value in USD = 1,000 / 80.00 = 12.5 USD
For more details, check out Trader’s Way.
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Margin
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with state of the art trading terminals, a user friendly interface and the very latest in trading tools and apps. Our clients can opt for the preferred account type depending on their trading strategy. As part of our ongoing series, here is a recap on margins, stop out levels, etc. The Margin is the amount of money required to open/ maintain a position. The initial margin required to open an order/position equals the position divided by leverage. The Stop out level is below which all open positions are closed automatically, whereas free margin is the amount of equity a trader requires to open new positions.
Example: Sam's account balance is 2,000 USD. His leverage is 1/100. Sam wants to open 1 standard lot of EURUSD. The current EURUSD rate is 1.3000. Stop-out = 10%.
Initial Margin = 100,000 EUR / 100 = 1,000 EUR (or 1% margin requirement) = 1,300 USD
In this example Sam needs to have 1,300 USD on his account to open 1 lot of EURUSD.
Maintenance Margin = 1,300 USD x 10% = 130 USD
When equity on Sam's account goes below 130 USD, the position will be closed automatically.
Used Margin = SUM (All Initial Margins) = 1,300 USD
Equity = 2,000 USD
Free Margin = 2,000 USD - 1,300 USD = 700 USD
For more information, check out Trader’s Way.
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STANDARD Account with VARIABLE Spread
At Trader’s Way, Prime Online Forex and CFD broker, clients have access to the very latest in trading tools, standalone proprietary programs and broker independent apps. We offer a wide range of trading accounts, suited to meet the requirements of all traders. Clients can opt for our MT4.VAR account with the preferred leverage ratio, up to 1:1000. The MT4 VAR is perfect for experienced traders as it combines the best features of real ECN account with extremely tight spreads, no commission charges and low initial deposit. Traders often opt for the MT4 VAR as it allows them to trade under real market interbank conditions, where the spreads can get as low as 0.7 pips. Clients can trade any size starting with 0.1 standard lot or 1000 units of base currency. For more information, please check out Trader’s Way.
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Leverage
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most precise quotes for all pairs along with the most competitive trading conditions in the market today. Moreover, our clients can opt for the preferred account type; use automated scripts, depending on their trading strategy. As part of our ongoing series, here’s a recap on leverage. Traders use leverage as a multiplier, thereby opening positions larger than their deposit. In other words, the broker extends credit to the trader so that they can increase their position.
Example: Sam deposits 1000 USD into his account. Sam's broker provides him with a 1/100 leverage. The maximum position Sam can open equals his deposit multiplied by his leverage = 1000 USD x 100 = 100,000 USD. Sam's P&L is correspondingly multiplied by 100.
For more information on leverage, check out Trader’s Way.
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Try Best MT4 ECN from $10 ONLY!
At Trader’s Way, Prime Online Forex and CFD broker, our clients are able to access some of the most precise quotes in the market, extremely fast execution along with state of the art trading terminals. Moreover, clients can opt for customized accounts to suit their trading strategy including being able to trade on the interbank market, with some of the lowest market deposit. Simply put, our clients are able to open positions using our MT4 ECN account with just $10, where spreads can get as low as 0 pips. Traders can open positions of any size starting with 0.01 lots or 1,000 units of base currency. For more details, please check out Trader’s Way.
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MT4 ECN
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our traders are able to utilize the best trading tools and apps, in our state of the art trading platforms. Apart from the apps, we make it easy for traders to test and play their automated scripts, in real time. Our MT4 ECN account is perfect for professionals who prefer trading with interbank market rates, streamlined quotes, better liquidity and extremely tight spreads where spreads can get as low as 0 pips. Traders can start trading on the ECN account with one of the smallest on the market deposit of only USD 10. Traders can trade any size starting with 0.01 lot or 1,000 units of base currency, while enjoying a leverage ratio of up to 1:1000. For more information, please check out Trader’s Way.
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Swap points
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients are able to take advantage of even the smallest market movements by providing them with precise quotes and some of the most competitive trading conditions in the market. Furthermore, we believe new traders need to review all edu resources before opening a position. As part of our ongoing series, here’s a brief recap into swap points. When traders do not close a position by the end of the day, it will get rolled over to the next day where the difference in overnight interest rates in the currency pair results in swap points. The rollover is achieved with two trades, the position closing at the end of day at spot rate and the next day’s position at the forward rate. The difference between the forward and the spot rates is called swap points. For more information, please check out Trader’s Way.
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Meta trader 4
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading tools, including encrypted Meta trader platform. By utilizing Meta trader, traders can analyze all market trends, place orders with a single click of the mouse and even customize automated scripts - test it before using it on the platform. In short, the platform comes packed with all the functionality that a trader would need, and more. Traders can use the different technical indicators to analyze the various timeframes, determine market direction, volatility, moving averages, etc. By utilizing the advanced charting tools available on Meta trader 4, technical indicators, traders can develop their strategy and enter orders with a better success rate and with limited drawdown. For more information, check out Trader’s Way.
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MT4 Mobile Apps
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with endless trading opportunities, along with the ease and convenience of Mobile apps. With mobile trading, clients can manage their accounts from hand held devices like smartphones, tablet PCs. Using mobile trading, clients can access all the features of our MetaTrader trading platform, operate accounts, review news feeds, analyze market trends, etc. Traders can use MT mobile apps to stay connected to the market while commuting. In addition, they can review all the advanced trading tools, including charting to set up entry/exit strategies. For more information, please check out Trader’s Way.
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QuickDeal
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with state of the art trading platforms, including the very latest in trading tools and apps. Clients can now use QuickDeal to open orders with a single click of the mouse and with no time lag, making it easier for traders to place orders. With QuickDeal, traders can review in-depth information about the trading instrument; they can review the current net volume, SL and TP settings, P/L and even use the “close all” button to close all open trades for a particular trading account. Moreover, traders can use Quick Deal to review spreads on all pairs, making it easy and convenient for the trader to develop a strategy. For more information on Quickdeal, please check out Trader’s Way.
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cAlgo
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading apps, charting tools – enabling them to take advantage of even the smallest movement in the market. With our special proprietary algorithmic platform cAlgo, traders can code, test EAs, automated scripts before using it on the platform. Moreover, with our collaborative tools, traders can share codes, download and test it before going ahead with “plug and play”. The platform provides for a coding friendly environment, and on account of the developers’ network, traders can now utilize custom EAs that have been developed by other traders. For more information, please check out Trader’s Way.
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cTrader Web
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients stay ahead of the curve by providing them with access to the latest trading tools and applications. Traders can now use cTrader web to access all cTrader features from transparent pricing to instant execution, without any tech issues since all major browsers are supported. With cTrader web, traders can now capture even the smallest movement on the market with precise quotes and opt for manual trading or use automated scripts. Now, with cTrader, traders can trade from any location, and have all their trades routed directly to ECNs. For more information, please check out Trader’s Way.
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MT4 Trading Signals
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with state of the art trading terminals along with some of the most competitive trading conditions in the market. Moreover, with our Meta Trader4, clients can now count on precise quotes, with instant executions and no time. Clients can also opt to utilize our featured social trading service, enabling them to copy signals from other traders directly to their terminal, thereby adding more functionality to Meta Trader4. The trader can review various signal provides from our list, check out the various metrics and choose one depending on the traders’ preference. Some of the signal providers provide signals free of cost. For more information on MT Trading signals, you may want to check out Trader’s Way.
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FxStat Autotrading
At Trader’s Way, Prime Online Forex and CFD broker, we help traders optimize their trading by providing them with state of the art trading tools, apps and some of the most precise quotes in the market today. Moreover, clients and especially new traders can now use FxStat Autotrading to review, analyze and execute signals from experienced trades in real time with no time lag. This feature provides for a convenient way to trade on signals received from professionals, in real time. In addition to signals, the auto trading feature provides trades with an economic calendar with the very latest in market news, fund allocation, risk management and account management. For more information, please check out Trader’s Way.
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VPS Hosting Service
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients can stay connected to the market, 24*7 by providing them with state of the art VPS hosting service. We offer a high end VPS hosting service, for all traders who prefer to trade continuously, without any interruption. Traders can utilize our remote servers to run their EAs, automated scripts and trade seamlessly, with no downtime. Moreover, traders can monitor their account in real time, and can download and install other add on apps and trading related software programs. For more information on our VPS hosting service, please check out Trader’s Way.
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MAM for MetaTrader 4
At Trader’s Way, Prime Online Forex and CFD trader, we provide our clients with endless trading opportunities along with state of the art trading tools and apps. In addition to providing clients with some of the most competitive trading conditions, traders can now utilize the Multi-Account Manager (MAM) software to manage several investor accounts while using one master account. Clients can use MAM to manage and trade on several accounts; access all the features of the MT4 trading terminal with full ST, SL and pending order functionality. Moreover, clients can review account statements for these investor accounts daily and set the P/L to be evenly distributed among the various accounts. For more information on MAM, check out Trader’s Way.
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100% Deposit Bonus
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most competitive trading conditions in the market. In addition, we ensure that our clients are able to take advantage of even the smallest market movement by providing them access to the latest trading software, tools and apps. Now, traders can avail a 100% bonus their deposit, and trade on the same. The trader is required to send us a mail regarding their deposit, after which the bonus amount will be credited to their account. Terms and conditions do apply and for more information on the bonus, please check out Trader’s way.
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Metals (Gold and Silver)
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients are able to take advantage of even the smallest market movements by providing them with some of the most precise quotes along with competitive trading conditions. Moreover, clients can opt to trade in a variety of instruments, including metal (Gold and Silver). Precious metals like Gold and Silver are often used to hedge against inflation and market volatility and offer better returns to traders over a longer period. Given the fact that both these metals are short in supply with demand increasing, these metals offer traders a better option for returns on investment. Traders can opt for Gold and Silver CFD trading, through any of our accounts. For more information on metals, please check out Trader’s Way.
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Forex market, a closer look
At Trader’s Way, Prime Online Forex and CFD broker, we offer our clients some of the most competitive trading conditions in the market. In addition, we host a series of edu resources, designed to provide the latest information on the market including beginner tools to new traders. As part of our edu resources, here’s a brief recap on the forex market. Traders can trade currencies on the four trillion dollar a day turnover market. The market serves more as a decentralized market, where both banks and retail investors can purchase and sell currencies. Along with currencies, traders can trade in other instruments, from metals to energies. For more information, please check out Trader’s Way.
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MT4 MICRO account
At Trader’s Way, a prime online Forex and CFD broker, clients are able to access the very latest in trading tools and apps, along with state of the art trading terminal. Moreover, clients can opt for customized accounts, based on their trading requirements. The MT4 MICRO account is perfect for both experienced traders and beginners, as they can use it to test out various strategies including testing out new variants of EAs. New traders can use the same to gain some valuable trading experience while trading in a real environment with little risk. Traders can now register for Micro account and start trading right away, with a deposit of ten cents. For more information on Micro, check out Trader’s Way.
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Currencies
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most competitive trading conditions in the market. In addition, clients have access to some of the most precise quotes in the market, derived from various liquidity brokers. As part of our ongoing series, here’s a brief recap on currency pairs. Traders trade in various currency pairs from majors to more exotic pairs. These currencies are often denoted by three capital letters according to the International Standard for currency codes, with the first two letters indicating the country code and the third, representing the country. For example, USD = US dollar, where "US" = the United States and "D" = dollar. Currency pairs are made up of the first currency - the base currency - and the second currency - the term (or counter/quote) currency. For more information, please check out Trader’s Way.
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Long/Short Position
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the very latest in software, from trading tools, advanced charting options to state of the art trading platforms. In addition, traders can use customized scripts, on our platform – from EAs to customized technical indicators. As part of our ongoing edu series, here’s a brief recap on long and short positions. Traders can go long or short on currency pairs, essentially they are either buying or going “long” on one currency while simultaneously selling or going “short” on the other.
Example: When Sam buys EURUSD, Sam is going long for EUR and going short for USD.
For more information, please check out Trader’s Way.
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Pip and Pipette
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most competitive trading conditions in the market along with state of the art trading terminals, tools and apps. We believe that all traders need to stay informed and we provide them with access to the latest news, developments in the market. As part of our series, here’s a brief recap on pip and pipette. Currency pairs are quoted with four digits post the decimal point and the smallest decimal change, as shown in example below, is called a pip. The pip is the smallest price increment. But now, with more precise rates, currencies are often quoted with Five digits post decimal, thereby offering traders a higher level of precision. The difference of 0.00001 difference is called a fractional pip or pipette.
Example: EURUSD at 1.2539 changes 0.0001 to 1.2540, the difference of 0.0001 is called a pip, with pip valuation differing for various currencies.
For more information, please check out Trader’s Way.
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STANDARD Account with FIXED Spread
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with endless trading opportunities along with the latest trading tools and applications. We understand our clients trading requirements and provide them with various types of accounts, including MT4. FIX. The MT4. FIX is a standard type of account with a fixed spread. For traders opting for manual trading or utilizing automated trading tools, knowing the spread befo*****d enables them to trade more effectively. Moreover we provide our clients with some of the most competitive trading conditions with spreads on MT4. FIX starting as low as 2 pips. Traders can trade any size starting with 0.01 Standard lot or 1,000 units of base currency and opt for leverage upwards to 1:1000. For more information, please check out Trader’s Way.
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Equity
At Trader’s Way, Prime Online Forex and CFD broker, we provide our traders with the very latest trading tools, apps, state of the art trading terminals, advanced charting tools, round the clock VPS hosting service - thereby ensuring that they are able to take advantage of even the smallest market movement. Traders are able to access some of the most precise quotes, derived from multiple liquidity sources, along with some of the most competitive trading conditions in the market. As part of our ongoing series, here is a brief recap on Equity. Equity is the balance left when all the open positions are closed. Equity equals the balance plus P&L:
Equity = Balance + P&L
Example: Sam's balance is 2,000 USD. Before he opens any positions, his equity = his balance = 2,000 USD. Sam buys 1 standard lot of EURUSD. The price goes up and his P&L is 1,000 USD. Now Sam's equity = his balance + P&L = 2,000 USD + 1,000 USD = 3,000 USD.
For more information, please check out Trader’s Way.
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MyFxbook Autotrade
At Trader’s Way, Prime Online Forex and CFD broker, we provide our traders with endless trading opportunities along with the very latest in trading tools and applications. In addition, now traders can opt for MyFxbook Autotrade, the latest social trading platform and take advantage of even the smallest market movements. We offer our clients the latest and innovative products, designed to help them trade effectively. And with autotrading, clients can now have access to more resources, including professional signal providers with live accounts. Myfx book is already a well-known analytical tool and one that clients can use to sort through various strategies, signal providers, evaluate signals received, and replicate it in real time. To know more about MyFxbook Autotrade, please check out Trader’s Way.
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Reliability and Safety
At Trader’s Way, Prime Online Forex and CFD broker, we ensure our clients’ data, transactions and related information remains safe at all times. We utilize one of the most widely accepted and secure trading system, MetaTrader 4, thus ensuring that all transferred data remains secure. Moreover, we use multiple layers of security to ensure that all data remains protected from any form of intrusion. Only mature software products from established companies are used on our platform, thus allowing traders to trade with reliable trading tools and applications. In addition, we segregate funds, and always maintain a positive ratio of assets to liabilities. For more information, please check out Trader’s Way.
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100% Deposit Bonus
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most competitive trading conditions in the market. Apart from state of the art trading platforms, clients also have access to proprietary trading tools and apps, designed to enable them to take advantage of even the smallest movements in the market. Moreover, we also provide our clients with 100% bonus on all deposits. Traders can email us with the details and the bonus will be added to their account, right away. For more information, terms and conditions, please check out Trader’s Way.
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Transparent Prices
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading tools and applications, including state of the art trading platforms. We receive our currency quotes from multiple sources of liquidity and process it using our proprietary algorithm; as a result, we are able to provide our clients with some of the most precise quotes. As a result of this precision, nearly all pairs are listed to five decimal points. Given this, traders can look forward to extremely small spreads, which at times goes down to zero. For more details, please check out Trader’s Way.
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Low Spreads
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with some of the most competitive trading conditions in the market. Along with state of the art trading platforms, we are able to provide our clients with minimum spreads for all pairs, across all accounts. We get our quotes from multiple sources and run it through our proprietary algorithm, thus ensuring that traders get low spreads, for all pairs. In addition, traders can opt for both fixed spreads and floating spreads; fixed spreads starts at 2 pips while floating spreads tend to range even lower, depending on the liquidity. For more information, please check out Trader’s Way.
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Try Best MT4 ECN from $10 ONLY!
At Trader’s Way, Prime Online Forex and CFD broker, we offer a wide range of accounts to suit our clients’ trading requirements along with some of the most competitive trading conditions in the market. Along with featuring some of the most precise quotes in the market, traders can now trade on the interbank market with the lowest on market deposit. Clients can now opt for MT4 ECN trading, along with some of the tightest spreads on pairs, ranging from as low as Zero pips. Traders can now open orders for as little as $10 for minimum order size of 0.01 lots (1,000 units). For more information, please check out Trader’s Way.
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Low Commissions
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading apps, tools along with state of the art trading platforms. Clients can select their preferred account type, leverage depending on their preference and even use automated scripts on our platform. Traders can also trade with interbank quotes; take advantage of some of the most precise quotes with the tightest spreads for all currency pairs. The trade commissions are very low and apply differently for ECN accounts, where it is based on the monthly turnover. Whereas for micro or standard accounts, there is no charge as it is already included in the spread and no additional fees are charged. For more information, please check out Trader’s Way.
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High Leverage - Low Margin
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients have access to the very latest in trading tools and apps, thereby enabling them to trade more effectively. Moreover, we provide all our clients with some of the most precise quotes in the market along with excellent margin trading conditions, on all accounts. Traders can opt for the preferred leverage, upwards to of 1/1000 on our Micro, Standard as well as ECN accounts. It is advised that traders should select their leverage level carefully, since a lower leverage requires a larger equity amount to keep all orders open. For more information on leverages and margins, please check out Trader’s Way.
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MT4 MICRO account
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading tools and apps, along with some of the most competitive trading conditions in the market today. We offer various trading accounts, from Micro to Standard, so clients can opt for the preferred account type, depending on their trading strategy. The MT4 Micro account is perfect for new traders as it provides them with real market trading conditions while limiting risk. Traders can deposit as low as ten cents and start trading right away. The MT4 Micro is the perfect trading account for new traders to test out various strategies, hone their trading skills, and test automated scripts before upgrading to other account types. The spreads on the MT4 Micro accounts are quite small, with fixed spreads starting from only 3 pips. For more information, please check out Trader’s Way.
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The forex market
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients have access to the latest trading tools, applications along with state of the art trading terminals. As part of our ongoing process to provide traders with adequate information on all aspects of the market, here’s a brief recap on the forex market. The forex market, is to date, the largest decentralized market in the world, with a daily turnover exceeding $4 Trillion/day. The market is where currencies are traded, from the majors to more exotic pairs. Traders buy and sell currencies simultaneously by going long or short on a pair, like EUR USD. For more information on the market, currencies please check out Trader’s Way.
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Currency pairs
At Trader’s Way, Prime Online Forex and CFD broker, we offer our clients some of the most competitive trading conditions in the market, along with the most precise quotes. When traders trade currencies, they are buying one while selling the other; in short all currencies are traded in pairs, with the first currency being denoted as the base pair and the second as the quote currency. Currencies are denoted by three letters, as per the international standard for currency codes with the first two denoting the country code and the last, the currency name.
Example: When you buy EURUSD, you buy euros and sell dollars.
Example: USD = US dollar, where "US" = the United States and "D" = dollar.
For more details, check out Trader’s Way.
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Long/Short Position
At Trader’s Way, Prime Online Forex and CFD broker, we offer customized accounts to our clients to suit their trading strategies along with some of the most competitive trading conditions in the market. As part of our edu series, here is a brief recap on Long/Short position. When traders buy an asset, they are essentially going “long”, similarly when they sell the asset, they are going “short”. When it comes to the currency market, currencies are traded as pairs, so when traders go long on a particular pair, they are essentially purchasing and selling currencies simultaneously. So, they are going “long” on one currency while at the same time, shorting out another, from the same pair.
Example: When Sam buys EURUSD, Sam is going long for EUR and going short for USD.
For more information, details please check out Trader’s Way.
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STANDARD Account with FIXED Spread
At Trader’s Way, Prime Online Forex and CFD broker, we provide our clients with the very latest in trading tools and applications, along with state of the art trading terminals. We understand our clients’ trading requirements and offer them various account types including the MT4 FIX along with some of the most competitive trading conditions in the market. Our MT4 FIX is a standard account with a fixed spread starting as low as 2 pips, which is perfect for clients who use automated tools and expert advisors. Traders can trade any size starting from 0.01 Standard lot (1,000 units of base currency) and opt for leverage upwards to 1:1000. For more details, check out Trader’s Way.
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Bid/Ask (Offer) Price
At Trader’s Way, Prime Online Forex and CFD broker, we enable our traders to take advantage of the smallest market movements by providing them with the latest trading tools, apps along with some of the most precise quotes in the market. As part of our edu series, here is a brief recap on Bid/Ask. A trader can go short on a particular currency, by offering it to the market at the bid price. The bid price is the rate at which the market or the broker is willing to buy it from the forex trader. Similarly, the “ask” or “offer” price is the rate at which the market is willing to sell the asset to the trader.
Example: The quoted EURUSD rate at the moment is 1.3029/1.3030. This means that 1.3029 is the bid price - a trader can sell EURUSD at this price, whereas 1.3030 is the ask price - a trader can buy EURUSD at this price.
For more details, please check out Trader’s Way.
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The Pip and the Pipette
At Trader’s Way, Prime Online Forex and CFD broker, we offer our clients limitless trading opportunities along with state of the art trading terminals, top of the line trading tools and apps. Moreover, our clients can trade in multiple instruments along with the option to manage multiple accounts, portfolios etc. As part of our edu series, here is a brief recap on pips and pipette. The pip is the smallest price increment.
Example: Currency pair prices used to have 4 digits after the decimal point (e.g. EURUSD at 1.2539), and 0.0001 was the smallest amount by which the price could change (e.g. from 1.2539 to 1.2540).
Now, however, the prices can also vary by one tenth of a pip, or by 1 fractional pip, also called a pipette.
Example: USDJPY was usually quoted with 2 digits after the decimal point, e.g. 77.21/77.23, and 1 pip = 0.01. Now you can see the following quotation - 78.513/78.524, where the smallest price change is 0.001 = 0.1 pips = 1 pipette.
For more information, please check out Trader’s Way.