Starting from today we are going to publish series of articles about FOREX-based HYIPs from our catalog at HYIPNews.com. But first letâ€™s try to figure out together what FOREX is because many people heard about it, know general information but have never been actually been involved in it and therefore do not know about the details.
The foreign exchange market (FOREX) is a decentralized over-the-counter financial market where currencies are traded (unlike trading on the stock market, the Forex one is not conducted by a central exchange, but on the interbank market which is an over-the-counter market). It is worldwide and its financial centers around the world function to make it possible for a wide range of different types of sellers and buyers to trade. Trading takes place directly between the two counterparts, whether over the telephone or electronic networks all over the world.
You might know that before 1970s the exchange rates were fixed as per the Bretton Woods system (the system of monetary management which established the rules for financial and commercial relations among the major industrial states in the world in the middle of 20th century). During the 1970s countries gradually switched to floating exchange rates. That's when the modern foreign exchange market began forming.
The Forex market is the biggest market in the world and operates 24 hours a day, 6 days a week with trades amounting to more than $3 trillion every day. Most Forex trading is speculative with only a low percentage of market activity representing fundamental currency conversion needs o governments and companies. The main trading centers are New York, London, Tokyo, Sydney and Frankfurt. This worldwide distribution of trading centers means that the Forex market is a 24-hour market.
The foreign exchange market determines the relative values of different currencies. Currency trading is the synchronous buying of one currency and selling of another one. The currency combination used in the trade is called â€œa crossâ€ (for example, the Euro/US dollar, or the GB pound/Japanese yen.). The most commonly traded currencies are the so-called "majors" - EUR/USD, GBP/USD, USD/JPY and USD/CHF.
In our next article we will try to figure why HYIPs choose Forex legend and will take a look at a couple examples of such programs from our catalog: hyip monitor