MARKET RANGE

Forex: The World's Largest Financial Market

Forex is considered by facts as the largest financial market. The total daily transaction goes up to $6.6 trillion (April 2019). To say it differently, more money has been traded in currency market than Japan’s GDP!

Since it is considered as the largest financial market, it is also the world’s most liquid market, meaning it is profitable for traders to enter. There are the most liquid pairs, which bring enormous opportunities in the plate. This means that the Forex is enough volatile market to create opportunities for investors in both sides, when the market goes up or even down.

The secondary market can be devided into two specialized categories:

What is Forex?

Forex market is the place where interested parties comes together to trade currency pairs. To make it simpler, a forex transaction is even a case when you transfer your local currency into the currency of another country. Across the market, an estimated 5.3 billion USD is traded every day between governments, banks, companies.

Understanding how forex works is crucial because all the participants and their roles create the market you trade in. The importance of a party in Forex market is measured by the capital they put in Forex trading- from billion dollar amounts of investments banks to a few hundred dollars of individual investors.

Currencies are always traded in pairs and how strong a pair is, it is measured by how one currency moves against the other. For example, the EUR/USD pair shows the value of the Euro against the US Dollar. It tells how many dollars you can buy with 1Euro. When the value of a pair is increased, this means the Euro is coming stronger toward Dollar. When the value of a pair is decreased, this means the USD is coming stronger toward an unchanged value of Euro, or the Euro is coming weaker towards USD.

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Which Forex Pairs Can You Trade?

Forex currency pairs are divided in three categories: majors, minors, and exotics.

A major pair is considered each pair that contains US dollar, against one of the following currencies: USD - The US Dollar, EUR - The Euro, JPY - The Japanese Yen, GBP - The British Pound, CHF - The Swiss Franc, CAD - The Canadian Dollar, AUD - The Australian Dollar, NZD - The New Zealand Dollar.

Minor pairs are considered all the pairs which do not contain US dollar.

Exotic currencies are currency pairs which are not included above, such as the Hong Kong Dollar (HKD), the Norwegian Krone (NOK), the South African Rand (ZAR) and the Thai Baht (THB). An exotic pair is created by one major currency and the exotic one.

Forex Live Prices

What affects currency pairs rates?

Interest Rates

It is an exclusive task of central banks to manage monetary and financial stability. They do all this to influence interest rates. If the central bank increases the interest rate it brings an increase in the demand for that currency. Why? Because the currency is appreciated related to the other currencies.

Economic Data

Economic data are reports delivered in certain period of times, which helps traders to know about the performance of a state. Some of the main reports which influences currency rates are CPI (inflation) data, Nonfarm payrolls (employment data), gross domestic product (GDP), retails sales, purchasing managers index (PMI) and others.

Politics

The governments have the power to imposition the direction of currency rates movement. Trade wars, elections, changes in policies and even corruption scandals that a government might be included in reflect in the forex rates.

Payment Methods

You can fund your account with Dakken Group with whatever Visa Card you own. We accept Visa Debit, Visa Credit, business cards, except of prepaid ones.

Mastercard is also one of our best collaborators. You can open your account with Master Debit and Credit. There are no additional charges for deposits or withdrawal with Master cards, even though during other payments you are charged for the service.

Maestro is a quick and easy way to get your account ready to trade. It is a fast funding method. Maestro Debit cards are accepted, excluding prepaid ones.

Skrill is an effective way to transfer money or pay different purchases. So, it is a good way to fund your trading account with Dakken Group from anywhere with just email address and password. Deposits via Skrill will be returned to the originating bank account that funded the Skrill account. Supporting documentation will be required in this instance. Skrill also does not support funding through prepaid cards.

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When depositing funds, Dakken Group do not apply any charges but your own bank or card provider may apply their own charges.

*Card Payments can be deposited at anytime but in certain circumstances beyond Dakken Group control some payments may only be applied between the deposit processing times that apply to Bank transfer deposits. Minimum deposit and withdrawal amounts of £65/€90/$100 apply unless the trading account is being closed. Please note that in certain circumstances Dakken Group may require additional supporting documentation before funds can be applied or withdrawn from your trading account.

**Minimum withdrawal amount of £65/€90/$100 apply unless the trading account is being closed.

Please allow 3-5 working days for all withdrawals (including international transfers and card refunds). For more information please contact our Client Management Support.

Please note that in accordance with UK Money Laundering Regulations Dakken Group is unable to accept third party or prepaid card payments and the name of the deposit or via the above methods must be consistent with the ADSS account name.

Dakken Group will not accept any remittance which is considered to be a third party or pre-paid card payment. In addition, please note that Dakken Group applies a return to source withdrawal policy.

Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk and may not be suitable for all investors. Past performance of an investment is no guide to its performance in the future. Investments, or income from them, can go down as well as up. You may not necessarily get back the amount you invested.

All opinions, news, analysis, prices or other information contained on this website are provided as general market commentary and does not constitute investment advice, nor a solicitation or recommendation for you to buy or sell any over-the-counter product or other financial instrument. Please, ensure you understand all risks and seeking dependent advice if necessary.

This website is owned and operated by Clandestiny Group LLC, Company registration number: 1342 LLC 2021 and registered address First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines.