The Foreign Exchange marketTHE FOREIGN EXCHANGE MARKET

The FOReign EXchange is a global market where one currency is exchanged for another. The Forex market has no specific geographic location as transactions are executed through the electronic network of banks. Anyone with a computer and internet access can buy and sell currencies through a Forex broker. Today, the FOREX market has a daily turnover of 4-5 trillion US dollars. The FOREX market operates 24 hours and 5 days a week, from Monday through Friday.

 

Short Introduction to the Foreign Exchange Market

The Foreign Exchange Market (FOREX) was introduced in the '70s when the global currency trading system was changed from a system of fixed currency value to a variable rate system. Fixed exchange rate system started in 1944 based on the agreement of “Bretton Woods”.

In 1977, the average daily turnover of the Forex market amounted just 6 billion US dollars. In 1987, daily turnover reached 600 billion dollars and in 1997 daily turnover reached 1.2 trillion dollars. In 2007, daily turnover reached 3.2 trillion dollars and nowadays the daily turnover of the Forex market is estimated at 4-5 trillion dollars on a daily basis. Most of the daily market activity takes place in the UK (36%), followed by the U.S. (17%) and Japan (6%). 

Chart: Forex Market Activity
FOREX Market Activity

» Forex Pairs & Statistics | » Forex Seasonality Calendar

Trading Center's ECN Forex Rebate Plans -Automated Payments

Forex Trading Rebates

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Forex Robots FOREX ROBOTS -COMPARISON TABLE

What is an Expert Advisor (EA)?

An Expert Advisor or else an E.A. or else a Forex Robot is a set of programmed analysis and techniques including indicators, special filters, and rules. Whenever all these tools agree upon forecasting the direction of a trend, a trading order is automatically executed. The trades may be either bullish or bearish aiming to trade any market conditions.

More: » Compare Signal Providers » Forex Brokers

EXPERT ADVISOR

MECHANISM

CHARACTERISTICS

COMPATIBLE PLATFORMS

PRICE / VISIT

EA Builder WebSite

■ EA Builder (Web-Based)

■ CREATE INDICATORS FOR FREE

■ BUILD CUSTOM EXPERT ADVISORS

■ Build your own Trading System

Develop Free indicators and EAs for trading Forex, Equities, ETFs, and Commodities

Create Indicators and Robots without knowing anything about programming

Tens of built-in functions, including trendlines and time intervals

Alert via email, Audio, On-Screen

■ MetaTrader4 |■ MetaTrader5 | ■ TradeStation

■ Free for Creating Indicators

■ $97 for building Forex Robots

> Free Lifetime Access

 

» EA Builder Review

Wallstreet Forex

■ WallStreet Forex Robot

■ FULL AUTOMATED ROBOT

■ 4/5 DIGITS

 

■ Can be used in 3 separate Forex Accounts and on unlimited Demo Accounts

■ The Strategy is based on minimizing Spreads

■ 7 Currencies are traded (EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, NZD/USD, AUD/USD)

■ NFA-Broker Compliant

■ 5-Min Chart

■ MetaTrader4 | ■ MetaTrader5

Wallstreet Forex Robot

■ It costs $299

> 3 accounts) and Omega Indicator worth $97 as a Gift

 

» WallStreet Robot Review

Forex Megadroid Robot

Forex Megadroid Robot

■ SCALPING EURUSD

■ Smooth Results and Selective Trading

■ RCTPA (Reverse Correlated Time And Price tag Evaluation)

■ Trading EUR/USD only

■ Popular among Forex Traders

■ Stealth Mode

■ MetaTrader4 | ■ ZuluTrade

■ It costs $82.41

 

» Forex Megadroid Review

FAPTurbo

FAP Turbo Forex Robot

SCALPING FOREX

■ PLUS A LONG-RUN STRATEGY

■ Specialized in trading EUR/GBP and EUR/CHF

■ 2 Implemented Trading Strategies and extra Focus on Risk Management

Stealth Mode

■ 1-5 trades daily and target profit 6-10 pips

■ 15-Min Chart

■ MetaTrader4

■ It costs $149

> Free Life Updates

 

» FAP Turbo Robot Review

 

Forex Robots Comparison

Trading Center

 

L MORE RESOURCES

• COMPARE

Forex Brokers Comparison Expert Advisors (EAs) Fx Seasonality Calendar TCI Forex Trade Signals    □ Reviews

• PAIRS

» EURUSD » GBPUSD » USDJPY » USDCHF » USDCAD » AUDUSD

 

Historical correlations between Forex pairs. Correlation analysis measures the relationship between two numerical variables. In our analysis, these variables are the daily closing rates of 15 Foreign Exchange pairs for 5 years (2014-2018).

ECN/STP FOREX BROKERS COMPARISON TABLE

There are two main categories of brokers:

  • ECN/STP Brokers (No-Dealing-Desk)

An ECN (Electronic Communications Network) is a Forex broker electronically connected to the ECN network of banks. An STP (Straight-Through-Processing) Forex broker routes its client orders electronically to a liquidity provider. Both ECN and STP brokers place their client orders directly in the global currency market without any human intervention. ECN/STP brokers are categorized as NDD brokers (No-Dealing-Desk).

  • Market Makers or Dealing-Desk firms

Dealing-Desk (DD) means creating a market within the market. Dealing-Desk firm acts as an intermediary between the trader and the Forex market. DD firms can interfere anytime with their client’s activity, and that creates a serious conflict of interest against the clients. Furthermore, DD firms are notorious for charging high slippage on order execution (traders pay the higher trading cost and suffer from delays on order execution).

More: » Forex Robots | » Compare Signal Providers

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