ECN Broker

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An ECN broker is a forex financial expert that uses Electronic Communications Networks (ECNs) to give clients direct access to other participants in currency markets. ECN brokers are non-dealing desk brokers, meaning that they do not pass on order flow to market makers. Instead, they pass the orders to liquidity providers. ECN brokers generally offer their clients tighter spreads which is favorable for professional forex traders. A disadvantage of ECN is the price to pay for using it. Typically, the fees and commissions for using an ECN account are higher as compared to non-ECN systems. ECN brokers often charge a fixed commission per lot as a fee which could be around $10 for 1 standard lot ($100,000).

EUR/USD

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The currency pair EUR/USD is the shortened term for euros against U.S. dollars. The pair indicates how many U.S. dollars (the quote currency) are needed to purchase one euro (the base currency).

Event Risk

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An event risk is the possibility that an unforeseen event (e.g. political event or decision, election result, interest rate decision) will negatively or positively affect a security or currency.

FOMC Meeting

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The Federal Open Market Committee (FOMC) is the monetary policymaking body of the Federal Reserve System. The FOMC schedules eight meetings per year to review economic and financial developments.

Forex

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Forex stands for “foreign exchange” and refers to the buying or selling of one currency in exchange for another. The forex market is the most liquid market in the world, with trillions of dollars changing hands every day.

Forex Market

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The forex market or currency market is considered to be the largest financial market in which participants can buy, sell, exchange, and speculate on currencies. It operates 24-hours from Monday morning in Asia to Friday afternoon in New York.

Forex Signal Provider

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A forex signals provider gives specific buy and sell calls, which could be based on technical analysis charting tools or news-based events.

Forex Signals

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A forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price. As day traders we share our personal trade signals and daily entries with traders interested.

Forex Trading

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See Currency Trading

Forward Forex Market

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A contract traded OTC (over-the-counter) that is agreeing to buy or sell a set amount of a currency at a specified price, and to be settled at a set date in the future or within a range of future dates.