3.24.2009

ForexYard - Trading Made Easy

To make a living from Forex trading, you need a reliable trading platform that is easy and convenient to use and offers the same tight spreads to large and small players alike. You also want a system that offers the ability to test your trading approach before committing real money.

Forex Yard is an online foreign currency exchange trading service. It is designed so that a new trader can sign up and start trading in a matter of minutes. The service consists of online trading tools, access, and educational programs for both beginners and expert traders to use, as well as a downloadable software trading platform. The organization believes strongly in education as the best means to expert trading, so the learning tools are extensive. Based in Cyprus, Forex Yard was designed by professional Forex traders, as well as internet and financial sector specialists, and the service caters to international traders.



Advantages of using ForexYard

ForexYard is an online trading platform that offers variety in all aspects of the trade and this is why it has become one of the better known online foreign currency trading facilitators in today’s market. One of the clear advantages with their system is that you can use it pretty much anywhere there is an internet connection. The reason for this, is that you have the choice of trading using both a web based Java system and downloading ForexYard’s own free Forex trading software to your own computer . The web based Java system means you don’t need any special software which would restrict your online trading ability to your own PC or laptop. They also have free trading station software that you can also download, though this is not necessary to be able to trade. This provides you with more sophisticated decision making tools.

A very important feature on ForexYard is the ability to trade in commodities. Gold is a growth market during recession and Silver is likely to have a rally after dropping nearly 1/3 last year. Another one of the benefits of Forex trading is the massive amount of leverage that traders can employ. ForexYard gives its traders 200:1 leverage (meaning, a customer must have 0.5% of the value of their positions in their trading account in order to execute a trade.

ForexYard offers a neat little “virtual trading” demo-account facility. You can practice trade, using real-time quotes and full platform functionality, but only risking “pretend” money. This is a great way of testing out trading systems, particularly if you use technical analysis as your decision making tool. Finally, they dedicate a whole section of their website to Forex training and education. This includes a section on charts and technical analysis techniques.

Another attractive feature of their service, is that you can make a decision to sign up online and start trading within minutes using your credit card (Visa, MasterCard, Diners Club, Maestro) or bank wire to fund your account. You can make a decision to join them and be “out there doing it” almost immediately. They are also very big on credit card security and your personal privacy as well. With a “SuperMini” account, you can start trading with as little as $100.

ForexYard boasts that they never freeze their spread prices. This is common with other market makers when price spikes occur. A trader’s worst nightmare is getting frozen out and unable to exit when a sudden price move, either in your favor or otherwise, takes place. ForexYard has a policy of fairness for all. They want to provide their less experienced clients with every possible advantage and consequently, provide tighter spreads across the board. These were once only available to more experienced account holders, while less experienced clients were given spreads 1-3 pips higher. Their “universal pip rate” has dispensed with this discrimination, so that new traders receive exactly the same spreads as professional clients.

What ForexYard offers?

Guaranteed Limited Risk - If your equity drops below what you can cover then the deal closes out so you are not left owing.

Training - An excellent tutorial package allowing traders of all levels to learn and develop trading technique, this is totally free with ForexYard.

Security - Using the latest SSL encryption technology, you can trade safe in the knowledge that your personal details are protected by the latest anti-fraud techniques.

Customer Service - All traders have access to a dedicated, 24-hour Support Center. Here you can receive help on any technical issues with your account, plus up to date advice on the markets. This is extremely useful and important because the staff all has great experience in trading.

Languages - ForexYard trading platform is available in the following languages: Chinese, Turkish, Spanish, German, Arabic, English, French, Norwegian, Finnish & Swedish.

Depositing - The minimum deposit at ForexYard is $100 and they accept the following methods: Credit Card, Neteller, Wire Transfer, Paypal, Western Union, MoneyGram and WebMoney.

Types of Account

ForexYard Super Mini - ForexYard has an excellent starter membership called the SuperMini Account. These accounts are 1/10th the size of a Forex standard account meaning new Forex traders can start learning and earning, without a large initial outlay.

ForexYard Standard Accounts - ForexYard Standard accounts are set up for the more experienced Trader. There is more variety on the spreads with the standard size being 10,000 base currency per trade. That’s 10 times more than the Super Mini, so your risk is higher, but so are the gains.

VIP Services - ForexYard offers VIP services which are often described as Trading Big Guns. They offer consultation and will work to tailor a package that meets your trading needs.

What can we expect in the future?

You can expect the same high level of service you are used to with a lot of improvements. First and the most important one will be the introduction of EA (or Robots as they are also known). At the moment ForexYard doesn't support EA's, although they will be releasing a new account type on their platform shortly with a specific EA built in. I will be happy to let you know about this once the new account type has been launched so that you can start using this service.

Conclusion

ForexYard offers two different things that is considered to be absolutely necessary in any trading platform, customer support and all the help you need to gain more knowledge. It doesn't matter how long you have been trading on the Forex market, you will never get tired of knowing that you can pick up the phone, 24 hours per day and talk to someone about your account. The tutorials on ForexYard are also top notch and will help everyone, from the raw beginner to the seasoned trader. I highly recommend ForexYard to everyone because of their easy-to-use system which is suitable for beginner’s as is for expert traders. If you don’t have a trading platform yet or you aren’t satisfied with the current one, join ForexYard and I am sure you won’t regret it.

ForexYard - Trading Made Easy

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What is Forex?

If you would go out on a dinner with your friends or family and you mentioned that you were trading on the Forex market most of them wouldn’t know what you were talking about. The worst thing is that most of the Forex traders that join the Forex market don’t know what they are doing. Understanding what Forex is, is the first good step to your success at Forex trading.


The foreign exchange market (Currency, Forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. Forex transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when world over countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.

Today, the Forex market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euromoney's annual Forex Poll, volumes grew a further 41% between 2007 and 2008.

Forex Turnover

Forex Turnover
Main foreign exchange market turnover, 1988 - 2007, measured in billions of USD.
The purpose of Forex market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, Yen, etc., and the need for trading in such currencies. Since you aren’t buying anything physical this kind of trading can be confusing. When buying a currency think of it as buying a part in that particular country’s economy because the currency rate reflects the economical situation of the country when compared to others.

Currencies

Currencies
List of most popular currencies on the Forex market

Forex used to be a closed market because only the “big boys” because you needed between 10 and 50 million $ to open an account. But today, with the development of internet, online Forex brokers have the possibility to offer their services to “little” traders. All you need to start is a computer, fast internet connection and information which you can find on this page also.

This enormous market is like the dangerous sea where you can meet lots of sharks and dangerous waters but at the same time it is the only one where two weeks of trading can hypothetically bring you $1,000,000 out of $1,000 of initial investment.

This is certainly hypothetically because a lot of newbie traders deal with their trades as gambling, that surely bring them to having nothing in the end. You should always keep the phrase "be careful!" in your mind. This market would give you its profit possibilities only if you learn the basic things hard and make lots of demo trading.

The statistics is that as much as 95% of traders come to losing their money at Forex, 5% have profit and less than 1% of traders make large fortune at Forex. You shouldn't produce, sell or advertise anything trading at Forex. Your assets are your knowledge, experience and a small amount of cash.

This market is a platform for banks, transnational corporations and individual traders to change the currencies they possess into other ones. This is the spot Forex market. At this market you can trade with up to 1:400 leverage which means that you'll get $400 on your account for each dollar invested. So, you can trade with the $400,000 sum having invested $1,000 onto your account.

Forex is unique among other world markets because in any time of day and night, somewhere in the world, a financial centre is open for business, banks and corporations exchange currency all the time, with a little lower frequency during the weekend.

Why to trade on Forex?

1. There is no commission fee for trading at Forex.
2. There is no intermediary, you can trade directly at Forex.
3. Forex is open 24-hours a day.
4. Nobody can influence the market for a longer period.
5. High liquidity.
6. Free demo accounts, analysis and charts.
7. Small accounts that allow everyone to try out his luck.

Hope this has answered a lot of questions you were asking yourself about Forex and that you can now start trading. Also make sure that you check out other articles on this blog which can help you earn your fortune.

Good luck to everyone!