The volatility of the exchange rate (volatility) and the high liquidity of the foreign exchange market are a powerful attraction that allows Forex players to feel free and receive significant income in a short time. And since you can make a profit both on rising and falling exchange rates, even during an economic downturn, a talented trader is able to provide himself with a stable income.

But we should not forget that the greater the potential benefit, the higher the risks, and in the absence of proper endurance, knowledge and experience, you can remain at a broken trough.

How the Forex market works

The international currency market Forex (FX) is a platform for free exchange of currencies and profit from exchange rate differences. Changes in rates are regulated only by supply and demand. Forex is not tied to any geographic point and works around the clock.

The daily turnover of the Forex market exceeds four trillion dollars. The main currencies used are the US dollar, euro, pound sterling, yen and Swiss franc. Operations on financial trading platforms are among the main sources of income for the world's largest financial institutions. In particular, up to 80% of the profits of the famous Swiss bank Union Bank of Switzerland are provided by trading on Forex.

The main participants in trade processes are commercial and central banks, investment funds, companies that are engaged in import and export, multinational corporations, national exchanges, brokers (intermediaries between buyers and sellers who receive interest on transactions), dealers and individuals who carry out financial transactions for the purpose of making a profit (traders).

It is believed that in our time everyone can realize themselves as a trader. Indeed, this does not require a diploma, you only need analytical skills, the ability to “feel” market changes, and you also need a deposit - start-up capital, the minimum size of which is determined by the broker.

This statement is both true and false at the same time. Despite the fact that any adult citizen without a diploma in economic education can become a trader, the player must nevertheless take care of his continuous specialized training (usually through self-education) and gaining experience.

The main advantages of the world currency market Forex are high liquidity and globality. For a trader, there is another important advantage of Forex trading - the presence of leverage provided by brokers. Leverage allows you to conduct transactions in the absence of the required amount or to increase the volume of the transaction in order to increase your potential benefit (but at the same time risk!) From the exchange rate difference. Naturally, the larger the amount spent, the more significant the gain (or loss) will be.

Introduction to the Forex market: trader's tools

Acquaintance with the Forex market begins with the study of the basic concepts and trading tools. The success or failure of a trader directly depends on the ability to analyze the current market situation and correctly build a strategy for the game.

Transactions

The main instrument of any business is a deal. Forex is no exception, this OTC foreign exchange market has several of its own, specific, types of transactions. Let's consider a trader's toolkit.

• Spot- an instant transaction, but in interbank practice, settlement on it is made in real currency in up to two days. Therefore, a spot transaction is also called "cash", "cash", "T + 2" (Time + 2 days). Other types of spot transactions include TOD (today) and TOM (tomorrow). The exchange rate is fixed at the time of the transaction, and not on the day of delivery of the currency - "today", "tomorrow", "on the second day." Present current conversion operations ("spot"), like all other types of foreign exchange transactions, are carried out by non-cash and even virtual methods, although the meaning of transactions and their terminology in the spot market remained the same.
  In this way, spot price(or spot rate) is the price of a real product (currency) sold here and now on the terms immediate fulfillment of obligations (delivery). The spot rate is determined automatically as a result of trading, but can be negotiated individually by counterparties - parties to the currency exchange agreement. This happens when making especially large transactions.

The term “derivatives market” does not mean “immediate”, on the contrary, it assumes that all transactions in this market are made with a delay in the fulfillment of obligations (delivery of currency) for a period of more than two days. This contrasts the derivatives market with the spot market, which assumes immediate fulfillment of obligations. Instruments for playing on the derivatives market, or types of transactions (contracts), are forwards, futures, options and other derivatives.

• Forward- an instrument of trading on the Forex market, which implies fixing the exchange rate at a future date (delivery). As a deal (contract), the forward cannot be terminated and is obligatory to be executed on the established terms. That is, by the time the obligations are fulfilled, the currency rate may change up or down, but regardless of this, the exchange will be made at the rate at the time of the transaction. The deal can be concluded for a period from 3 days to 5 years. The participant gets the opportunity to withdraw money only after the expiration of this period. Forwards are made to play on the difference in exchange rates, they not are standardized and used in over-the-counter markets, and therefore less liquid than other types of transactions.
  Forward price (forward rate), usually always higher than the spot price (spot rate), since until the moment of settlement, money can be put, relatively speaking, on a deposit in a bank, where additional interest on the contract amount will run. The size of the forward price is calculated in two ways: either by adding a premium to the spot price, or by subtracting a discount from the spot price. But first, you need to determine the amount of the premium or discount:
  where: P - premium; D - discount; S ($ / €) - current spot rate (price); R €, R $ - bank interest rates on deposits in € and $ currencies, respectively (or in currencies from any other currency pairs); n is the duration of the forward transaction.

  Forward rates for different periods can be found in special bulletins, already calculated using LIBOR interest rates. To analyze and compare the effectiveness of investing at the forward price in the international and domestic foreign exchange markets, the forward rate can be defined as the ratio of interest rates taken on an interbank loan multiplied by the spot rate.
  

  

  where: Fn ($ / €) - forward exchange rate (price); S ($ / €) - current spot rate (price); R is the interest rate on the interbank domestic market; L - interbank LIBOR rate.
• Futures (jarg. - "futures") . Such a deal is similar to a forward, moreover, it is a kind of forward with the difference that it standardized by the size and terms of circulation and is of a recurring nature, not a one-time (unique) one. Futures means the exchange of specific currencies on a specific day at a predetermined rate. Futures transactions are concluded in relation to individual lots. If necessary, the rights to the futures can be resold to another person. Currency futures differ from currency pairs in the form of a ticker, trading floor and contract expiration date, they allow you to analyze the volume of exchange trading, which in itself is very valuable. In other respects, they are identical to the currency pair - even the futures chart follows the chart of the currency pair.
  Futures price is based on the forward and spot prices and is usually identical to the first, unless it is distorted by differences in tax laws of different countries, terms of guarantee payments and some other factors. The difference between the spot price and the futures price is usually called the "basis" or "base", which are usually positive ("contango" state), but can also take a negative value ("backwardation" state). A backwardation situation occurs when the futures price falls below the spot price.
  Historically, the futures price is expressed in US dollars, more precisely - these transactions are carried out in world currencies against the dollar. In addition to Forex, futures are widely traded on the Chicago markets (CME, CBOT, IM), Paris (MATIF), Singapore (SIMEX), Tokyo (TIFFE), London (LIFFE), Toronto (TFE) and Sydney (SFE) exchanges, used in interbank trade ( over-the-counter).
• Option is a kind of "deal for deal". More precisely, the seller of the option gives his buyer the opportunity, or the right (but not the obligation!), To conclude a certain deal at a known agreed exchange rate on a specified date or time period. At the same time, the seller of such a right (contract) undertakes a full obligation to complete a transaction in accordance with the terms of the option, and the trader, at his own discretion, may not use the purchased right.
  Considering that the deal can be multidirectional, FX options can be put ( put option) - are acquired in anticipation of a fall in the price of a currency pair, or to buy ( call option) - are in demand with the expected increase in its price, as well as bilateral ( double option). There are also exotic types of contracts for a deal, for example, barrier options ( barrier options), also called trigger options, or options with obstacles. Their essence lies in the fact that payments under these contracts are "included" ( knock-in) upon reaching the trigger point - a certain level of the price of the underlying asset, and "turn off" ( knock-out) - when the price of the underlying asset falls. The underlying asset can be a currency pair. Barrier options and their variations (Up & In, Up & Out, Down & In, Down & Out) allow you to build complex and incredibly complex market strategies (for example, "Bull Spread"), which are used by sophisticated traders.
  FX options are a more liquid instrument than exchange options, because in Forex there are contracts that are only a few days long, while on the exchange, execution times can be up to many months. At the retail level of Forex, they became available to traders only in 2009. Options, from the point of view of the value date (fulfillment of obligations), are distributed throughout the year according to the delivery months, and the contracts with the month closest to closing account for the maximum activity of the Forex market. In this context, the options market begins to behave like a spot market. And if you want to keep the position of the pair, say USD / EUR after June, then you will have to sell it and at the same time buy the July USD / EUR. There is no reason for this on spot transactions, as all positions are automatically rolled over to the next business day by overnight (see below).
  The profit of the option seller (writer) consists in the premium paid to him by the buyer for the opportunity to take advantage of a profitable deal, the size of which, in turn, varies based on market conditions. The main plus for the option buyer is that the risk is limited to the option price, minus that a premium is paid for transferring this risk to the other party. In this vein, options can be viewed as a kind of insurance policy.
  So, FX options are used not only as a trading instrument, but also as an insurance (hedging) instrument to manage risk in a cash transaction.
• Currency swap, or roll over, storeage, overnight... At its core, it is a money transaction in the Forex market, and not a conversion transaction, although formally it looks like that. It represents the simultaneous purchase and sale of currency on equivalent amount, but with two different dates of value (terms of delivery of currency, fulfillment of obligations).
  Example of a standard swap: a counterparty (bank, broker, trader) bought EUR 1 million against USD on a spot value basis (immediately, up to two days) and immediately sold it on a three-month forward basis, that is, made a three-month EUR to USD swap. The goal here is to be able to "step over the night" - hence the name overnight- through the trading session, through the end of the delivery time, keeping a trading position, as well as reduce foreign exchange risks, reduce the cost of borrowing funds in other currencies. Swap operations are mainly used by large market players.
  And it is important for an ordinary trader to understand that these operations are carried out automatically at 21:00 GMT through a broker using an installed trading platform and are practically invisible to the client - everything looks like a continuation of the bet. As a result, a currency swap (overnight) is funds held or added to the client's account (depending on the difference in interest rates for different currencies) for the rollover (transfer) of an unclosed position to the next day. In many brokerage companies, this service has a fixed fee, which encourages clients (traders) to short strategies and close positions throughout the day. It goes without saying that overnight can be held only if you use leverage, that is, the broker's credit funds, and not entirely with your own money.

So, only upon first acquaintance, the above types of transactions and operations may seem daunting. In reality, they are quite simple technically, although you will have to spend some time to master them, carefully working on a demo account, in order to get used to and get used to. The situation is much more complicated with the skills of analyzing the market situation and developing a trading strategy, especially with the use of FX options. Since Forex is by definition a spot market (over 90% of all transactions are closed within 48 hours), then any operations should be started with spot transactions. And it is better to open positions in the derivatives market, which is also a part of Forex, where forwards, futures, options and other types of derivatives are traded, after a couple of years, when personal professional experience has been accumulated.

Analysis

In order to conclude transactions with maximum profit, it is important to understand how the Forex market, which is part of the global financial and economic system, works. A beginner trader needs to pay attention fundamental (FA) and technical analysis (TA) .

The first of them provides for the study of the interrelationships of economic processes, requires knowledge of the deep foundations of the global economy and politics. A bidder needs to know how macroeconomic and inextricably linked political factors affect the situation in the economy of individual countries and regions, take into account that force majeure can have a decisive influence (natural and man-made disasters, terrorist attacks, local wars, political upheavals ) and mass psychology (expectations, rumors, self-fulfilling panic moods).

The fundamental difference between fundamental analysis and technical analysis lies in the approach: FA proceeds from the fact that the value of currencies, like any commodity, is governed by the law of supply and demand. And supply and demand depend on a number of fundamental economic factors: the state and growth of the national economy, changes in the discount rate and monetary policy, trade balance dynamics, central bank policy, etc. Consequently, the value of currencies can be influenced by certain economic and political measures. For FA, indicators are important not in absolute, but in relative terms, that is, consumer price and sentiment indices, labor prices, unemployment, GDP growth, etc. In order to forecast the Forex market, the most important events and news (expected and planned, unexpected and random ), which can be:

• trade, economic and political negotiations;
• agreements and decisions of interstate and sectoral unions, alliances, cartels;
• meetings of the Fed and other central banks;
• statements by leading government officials on economic and political issues;
• speeches, reports and forecasts of leading economists, political scientists, rating agencies, large commercial banks, etc.

The national economy has one important property: it is inertial and cannot quickly slow down, turn around or accelerate, resembling a heavy icebreaker. But the preconditions for future phenomena are being laid today. Therefore, FA is necessary when building medium-term and long-term trading strategies in Forex, which are simply impossible to implement without it.

To conduct FA, it is required to “turn on the filter” and understand the true significance of the events taking place - some of them, seemingly decisive, may not have any effect on the movement of currencies, others, almost imperceptible, can lead to a reversal of existing trends. This is a most difficult task that requires extremely high qualifications - understanding the channels of communication and mutual influence of currencies and other investment instruments competing with them, the historical development of interstate relations and national monetary systems - therefore, FA can only be afforded by large participants in the Forex market: banks, investment funds , multinational corporations, some brokerage companies and eminent traders.

But even if you have the experience and education necessary for FA, this will not be enough. FA is inapplicable and even useless for short-term and intraday strategies due to the above factors. And to play “long”, in addition to knowledge and skills, significant capital is needed to place stop orders for months or even years ahead and suffer losses on open positions in several figures on the chart, which is implied by the use of long-term trends.

But the doctrine of technical analysis is diametrically opposite to FA and is extremely laconic: a graph of currency price changes formed in real time already takes into account the factors of influence described above are economic, political and psychological, which means that for success you should simply analyze this graph. It shows a retrospective of price movements and contains all the necessary clues (signals) regarding trend reversals (bullish, bearish, sideways, etc.). Since, according to the TA postulate, the psychology of the crowd is stable, its past behavior is repeated in the future and is reflected in certain graphical figures of the graph, the nature of its movement. A trader with the help of today's rich toolkit ("Elliott waves", "Japanese candlesticks", MACD, RSI, etc.) must choose a forecasting horizon, in this time period, correctly build a trend, determine its strength and points of possible reversal, and therefore - points of entry into the market and closing deals. As a result of Forex technical analysis, it becomes possible to say when, within what boundaries and with what probability the trend will change, how long the new direction of price movement will last.

The informational basis of analytics is graphical and mathematical tools that allow analyzing price dynamics, as well as statistical data and principles of the theory of probability. The graphical display of the price can be presented in the form of charts, histograms, charts and "Japanese candlesticks".

It is important for a novice trader not only to know the basics of analysis, but also to use a set of available tools, and first of all indicators, which are based on algorithms that allow calculating market price fluctuations. The indicator gives the trader the opportunity to enter trades with the lowest risk and close positions in a timely manner. Of course, the use of indicators cannot and does not give a 100% guarantee of success, but it allows you to minimize possible losses. The main advantage of indicators is that they eliminate the need for manual calculations, but by doing so they can lull the vigilance of the trader.

There is a huge number of proprietary indicators, but the time-tested and most popular of them are MACD (uses three moving averages), Ichimoku (uses five lines), RSI (determines the strength of the trend and the likelihood of its change) and ADX (trend indicator).

So, fundamental and technical analyzes, on the one hand, are antipodes, on the other hand, they are inextricably linked and complement each other. Technical analysis, like a little angry dog, tries to reject the postulates of fundamental analysis, which, in turn, does not comment on technical analysis tools in any way. It's like in physics: the laws of the micro- and macrocosm - they differ, and sometimes mutually contradict, but at the same time they act in a single space and time. In any case, the trader has no other means besides TA when playing at short distances, and there is nothing better than FA when building long-term strategies.

Strategy

A prerequisite for successful Forex trading is the correct alignment of the tactics of their actions. Knowledge of strategies makes it easier to understand the market and the peculiarities of its movement, and, accordingly, helps to choose the right time and direction for opening a deal. Strategies are simple (based on the rules for entering and exiting Forex), as well as indicator (their basis is the interaction of indicators) and non-indicator (based on graphic elements, their indicator is price).

Indicator strategies are most convenient for beginners, since forecasts of rate changes are generated automatically. In this case, traders build their own trading scheme based on several indicators. However, it is important for beginners not to get carried away and use no more than three to five indicators, because otherwise there are too many variables for analysis.

The main advantage of non-indicator strategies is the ability to effectively predict price changes, and, accordingly, high profitability with minimal risks. However, using this strategy requires some skill and composure. Experts recommend launching it during a period of weak market movement.

There are also breakout strategies, which are based on the principle of breakout of highs and lows of value, and Martingale strategies, which involve the simultaneous conclusion of several multidirectional trades with an increasing lot.

From non-professional people or outright scammers, you can hear that certain specific strategies for Forex trading are win-win, since even with several losing trades, an overall positive result will be achieved. This is not true. There are no universal strategies, as well as uniform conditions for their application.

Successful trading requires mastering two or more strategies and applying them skillfully. The most popular of them are:

• strategy for indicators ADX and MACD... A simple strategy in which the indicators of the MACD indicator are used as indicators of the direction of trade (the price chart is not used in this case). Ideal for a 15 minute price graph;
• hammer in nails strategy... This universal strategy uses the Parabolic, Awesome Oscillator and Accelerator Oscillator indicators;
• scalping strategy "MA Waves", characterized by simplicity and aesthetics. It is based on the Moving Average group of indicators. The work is carried out on the main trading pairs with a reduced spread (up to 1.5-2 at four-digit quotes);
• THE7 strategy for daily charts characterized by simplicity and power. For work, a moving average and a cost chart are used.

Software

The analysis of a large amount of information and the efficiency of actions in the foreign exchange market are ensured thanks to special applications for PC and mobile devices. These software tools are called trading platforms and their custom applications are called terminals. They are supplied with technical analysis tools, news feed and various options. The most popular platforms are - MetaTrader 4 and 5, MetaStock and OmegaResearchProSuite 2000i... Many traders use several terminals at the same time, which expands the possibilities for technical and fundamental analysis, but we do not recommend doing this. At least until you reach a certain professional level.

Although the platform options are quite wide, traders may not always have enough of them. For comfortable work in Forex, special scripts are intended - small programs that allow you to place pending orders, perform simultaneous closing of all orders, calculate the level without loss, manage open positions and perform other operations.

Website informers always keep abreast of Forex news. From these self-updating sources, you can learn about trading and earnings of large companies, as well as get analysis of currency pairs, stocks and indices.

And finally, a demo account. Brokers usually offer the opportunity to get acquainted with the trading terminal, analysis tools and make transactions in Forex by opening a demo account, which allows you to train in the market with the same software functionality, but without real money investments.

Books and information portals about the foreign exchange market

Trading on the Forex market provides for constant development - expanding the knowledge base and practicing skills. Experienced players constantly study specialized literature, forums and blogs. A beginner should start with an acquaintance with the works that have become classics, for example, by Alexander Elder ("How to Play and Win on the Stock Exchange", "Trading with Dr. Elder: An Encyclopedia of the Stock Game", "Fundamentals of Stock Trading"), John Murphy ("Technical Analysis Futures Markets: Theory and Practice "), Lewis Borselino (" Day Trading Tutorial "," Day Trading Problem Book "), Jack Schwager (" Technical Analysis. Complete Course "). Forex portals such as www.financemagnates.com, www.forex.ru, www.mt5.com, www.fortrader.org, www.forexmaster.ru other.

Rules for successful trading on the Forex market

Many players become disillusioned with Forex after the first unsuccessful steps. To prevent this from happening, a novice trader needs to adhere to simple rules that will help avoid losses and make the process of working in the market interesting and effective:

1. Study specialized literature, be sure to get acquainted with the principle of organizing Forex trading and understand the mechanisms of triggering transactions.
2. Start trading on a demo account (demo account), which is a simulator of real trading and allows you to hone your skills. And only after trying various tools and strategies, switch to real money.
3. Trade small amounts, do not risk your entire deposit. Try to use no more than 10-30% of the deposit.
4. Learn from brokers, take part in webinars, attend courses.
5. Use additional opportunities, for example, invest in joint accounts (PAMM), and also make money on affiliate programs.
6. Control your emotions and don't chase quick profits. Assess the situation soberly and do not panic over loss; manage your time wisely.
7. Use indicators and advisors. They will help you to analyze the market and from time to time to make transactions automatically.

Thorough preparation, thoughtful analysis and composure are what a novice trader needs to be successful in Forex trading. Anyone can master this way of making money. Reputable brokerage companies provide extensive information opportunities and training programs that will help you understand the intricacies of trading and learn how to plan your actions.

Warning : the proposed contracts or financial instruments are high-risk and may lead to the loss of the deposited funds in full. Before making transactions, you should familiarize yourself with the risks with which they are associated.

US GDP growth is projected to gradually decline in 2007, but consumption will decline much faster amid a cooling housing market. How will the trajectory of movement of consumer and capital spending in the United States be reflected in exchange rates? Problems in the United States will also entail problems in Japan, China and the rest of the Asian region; however, if these problems are largely driven by declining consumption, China will suffer the most, other things being equal.

The state of the US economy

Fed Governor Bernanke, in his speech to Congress (Wednesday July 19), presented a completely adequate forecast for the US economy. The reduction in domestic demand, which until recently was fueled by the housing market, against the background of the inflationary risks present, was reflected in the Beige Book. It is still difficult to say whether the federal funds rate will stop at 5.25% or continue to rise to 5.75%. It is clear, however, that declining consumption and rising capital expenditures will have different effects on the economies of other countries and their currencies.

Key idea

Different countries have different export patterns. Where consumer goods exports dominate, in theory, weakening resulting from declining consumption in the US, or in the world as a whole, should lead to more significant negative consequences. At the same time, countries specializing in the export of capital goods in this case will be less affected. According to this criterion, Japan, Germany and Korea are oriented towards the export of capital goods, while Spain, Hong Kong and Italy export mainly consumer goods. It is no coincidence that Hong Kong is quoted in quotation marks because the trade data includes transit from China. Since we do not have reliable data for China, the information for Hong Kong can be used as a reasonable substitute. In other words, from the standpoint of common sense, we can conclude that China specializes in consumer goods.

Thus, if global demand and, in particular, demand in the United States declines in terms of consumption, and not in terms of costs of capital goods, Spain, China and Italy, in theory, will suffer more than Germany or Japan. However, in order to more accurately assess the exposure of different economies and their currencies to the influence of the level of consumption in the United States, it is necessary to take into account (i) the dependence of the country's exports on demand in the United States, and (ii) the dependence of the country's economic growth on exports.

Observation 1. If the US economy deteriorates, Mexico, Japan, China and Asia will be hit hardest.

About 80% of Mexican exports go to the United States. Thus, a weakening US economy will have a negative impact on the Mexican peso. Also, Japan, China and the countries of the Asian region are quite dependent on American demand. Therefore, their currencies will also suffer. There are two aspects to be paid special attention to. First, currencies in deficit countries are under pressure during periods of risk aversion amid falling global demand, but currencies in surplus countries may experience the same difficulties. In other words, surplus countries tend to be economies with a higher beta coefficient and, in principle, are more sensitive to changes in real demand. And countries with deficits are more sensitive to nominal factors such as global liquidity. Thus, the conventional wisdom that the currencies of surplus countries will feel more confident than the currencies of deficit countries needs to be tested.

Secondly, in this case, the concept of "dollar smile" is applicable. The soft landing of the US economy may lead to the preservation of risky strategies, and the USD / Asia pair will trade with a decrease. However, if investors suspect that the weakening of the US economy will take on a broader scale, a downward trend in risk may begin, in which case the downtrend in USD / Asia will face serious difficulties.

Observation 2. China is the most vulnerable in Asia.

While all Asian countries are dependent on US demand, China is arguably more sensitive to changes in US consumption, while Japan and Korea are more resilient as they export twice as many capital goods as consumer goods. This is another reason to believe that this period of weakness in the US economy will be less painful for Japan than previous ones. In addition, China's vulnerability could also be exacerbated by Beijing's restrictive yuan policies. In this aspect, it is necessary to control not net exports, but capital costs and speculation in the housing market. If the US economy slows down the pace of growth, Beijing will find itself in a difficult situation, in the face of the need to tighten policy in the face of a weakening global economy. However, at the same time, a blow to export volumes could ease the pressure on the yuan. But at the same time, Chinese exports can remain quite high, receiving support from Europe and Japan. But overall, this particular kind of easing will certainly stab Asian economies in the back.

Observation 3. European inequality.

Germany stands out among other European countries. It is more dependent than others on the export of means of production. Diverging global consumption and capital spending cycles can only exacerbate divergence in Europe and complicate monetary policy decisions.

Our forecast for USD / Asia

Stephen Yen, Morgan Stanley

Forex market is an interbank market in which there is a free exchange of currencies, without any fixed values. The name of the foreign exchange market - FOREX - means "Currency exchange"(FOReign EXchange). Trading conditions on the foreign exchange market are the same for Russia and Ukraine: free trade and the ability to buy and sell currencies at the best price.

The history of the Forex market began in 1971, when the President of the United States decided to abandon the gold standard. All this pushed to the final collapse of the Bretton Woods monetary system and led to the possibility of free change in exchange rates. As a result of these changes, a new type of activity was born - foreign exchange trading, which began to be carried out on the international foreign exchange market.

The trade turnover in the international foreign exchange market, including the market of Ukraine and Russia, is more than 4 trillion. dollars daily. Small amounts on Forex are not convertible, so it was and remains, first of all, the interbank foreign exchange market. Among its participants are central, investment, commercial banks, dealers, brokers, various funds, insurance and large multinational companies. It is easier for private traders in Ukraine or Russia who want to make money on Forex to get to the interbank market through a brokerage company offering favorable terms of cooperation.

Most of the currency systems of certain countries, including the Russian currency market, build their activities with an eye to Forex. Control over access and peculiarities of Forex trading is carried out by the Central Bank. The peculiarities of taxation of activities on Forex correspond to personal income tax - if the broker is a Russian company, it must also assume the functions of a tax agent for clients, if not, the trader is obliged to calculate the tax and draw up a declaration on his own.

Investment accounts inherently assume that the investor entrusts the management of their finances to third hands - this can result in both profit and significant loss, since the risk of such an investment is very high. When playing Forex, you manage your finances by making decisions on your own. Investment accounts imply the impossibility of independent management.

The advantages of Forex trading over foreign currency deposits are obvious:

• You decide when to collect your money. While banks in the Russian and Ukrainian markets place restrictions on early withdrawals, the bank takes back part of the profit.
• Foreign currency deposits allow you to keep funds in one, maximum two currencies. Forex trading allows you to trade on several accounts at once (over 120 currency pairs).
• You can make online trading your profession and earn income without restrictions.

I rummaged in my archive ... it was written in September, but I think there is nothing to rewrite and comment on ...

CIA - Forex Market in Context.

"The US government has real and official policies."
W. Taylor US Ambassador to Ukraine 2009

In 1972, David Rockefeller decided to become the ruler of the non-communist world. In 1973, under his leadership and with the active participation of Z. Brzezinski (who then served as the coordinator of the actions of the State Department, CIA, FBI, NSA, etc.), the Trilateral Commission, a closed club of billionaires and their advisers, was created. The commission united the leaders and owners of the largest banks and monopolies in the USA, Western Europe, and Japan. The main leitmotif: in the modern world, the joint efforts of "private individuals" can give more than a clumsy bureaucratic apparatus, which, moreover, is at least under weak, but still under public control. In the context of the end of the crisis of the 70s, the commission began its work with attempts to resolve the main economic and CURRENCY problems of the capitalist world. By a "strange" coincidence, in the early 70s, the CIA provocateurs Solzhenitsyn and Sakharov raised the topic of the importance of creating a world technocratic government.

Do not underestimate the ties of the US oligarchic clans with the CIA.

Members of the Mellon, Morgan, Dupont, Vanderbilt, Armor, Bruce, Ryan, and other families served in the CIA. The American publicist D. Pearson wrote about the OSS, the founder of the CIA during the Second World War: "It consists of bankers from Wall Street." CIA Director Wisner, the owner of a myriad of fortune, threw salary checks in his desk and did not receive it for years (the checks were discovered after the 1957 suicide). In the governing bodies of the CIA there have always been representatives of the true masters of the United States, who gathered not to accumulate information, but to act - to ensure their class interests by means of secret war. By the way, Allen. Dulles, one of the founding fathers of the CIA, believed that the collection and processing of information should be no more than 1/10 of the total volume of work carried out by this department. The creation of the CIA was an important stage in the organizational formation of the secret government of the United States, and the last attempts to bring the activities of this office under the control of Congress ended in failure in the mid-70s.

The importance of control over the foreign exchange market was indicated by the CIA in one of the first directives of the National Security Council - 4 \ A dated 12/14/1947: “... support for political parties; quasi-war methods, including rebel aid and sabotage; economic actions related to foreign exchange transactions ”. As we can see, sabotage and direct support of the rebels are on a par with currency speculation. In another, the same ancient CIA directive SNB 10/2 dated 6/18/1948 says: “... the activity is planned and carried out in such a way that its source - the US government does not appear outwardly, and if exposed, the US government can plausibly deny to the end all responsibility for her. "
Confirmation that the directives have not lost their relevance in our time is the activity of Mr. Soros, of course, if you take a closer look at it.

Of course, a legitimate question may arise: does the CIA have the resources to significantly influence the foreign exchange market? In 1975, Congressman Koch inquired from CIA Director Helms about the office's headcount and budget.
To which he received the answer that the deputies of Congress are not obliged to know the budget of the CIA for which they vote, and the appropriations are mainly included in large appropriations for other departments. In the days of R. Reagan, even such questions were no longer relevant. But the Commission of Congressman O. Pike in 1976 got to the bottom of the CIA budget. An estimate of the total costs per eye, the commission was denied specific data, revealed an astounding figure - at least $ 10 billion (how much did not dig up?), While the official allocation for the CIA was about 3 billion, and this was in the distant 70s !! ! (and today ??? There would be no Al-Qaeda, it would have to be invented !!!) In relation to gold, the dollar has depreciated more than five times during this time.

The CIA's activities in the information field are widely known: from the production of porn films to the financing of radio stations such as Free Europe, where S. Shuster began his career. Even in the distant 60s, about 1000 books were published with CIA funds annually in various countries of the world, not to mention periodicals. From the very beginning of its activity, the CIA has been developing methods to control the behavior of not only the individual and groups, but society as a whole. Back in the 70s, CIA spokesman D. Berend said: “In any field of knowledge, we have enough doctors to staff any university.” How much so respected by our colleague eumatv grant-eater Hayek, to Professor W. Rostow, a staff member of the CIA with his anti-Marxist concept of "stages of growth." I would not be surprised if the so-called technical analysis, as a program for controlling the foreign exchange market, was developed in the same place. How could imperialism, with such a serious approach, click through the beginning of the crisis? As an explanation, I propose to turn to the primary source of pragmatic bourgeois society, created by the bourgeoisie for the bourgeoisie - money.

The diverse cooperation of academic science with the bourgeoisie has led to the service of the class interests of the ruling elite, not only in the United States, but also in Ukraine - the prostitution of science.
Bodies of political investigation, engaged in one way or another in the fight against dissent, receive a significant part of the budget. (Military Intelligence, IRS, FBI, CIA, NSA, Police, Civil Service Commission, Office of Economic Opportunities, Passport Bureau, etc.) Americans K. Osborne and A. Rosso began their joint article with the words: “In the United States, in the intelligence community more people work than in agriculture. More is spent on their payment than on the coal industry. "
I would also like to note a significant increase in the size of the American army in 2010, which has a wealth of experience in suppressing riots in the United States (in 1967 alone in Detroit, 43 killed, hundreds of wounded, 7,200 arrested).
Given the links between the CIA and the oligarchic clans of the United States, their interpenetration, the office has unlimited resources to fulfill the main task of imperialism today: the effective export of the crisis. That is, a global scarlet race with the inevitable, as I think, a dollar hyper in the final - the death of the scarlet herd. The class hatred of American imperialism finds its expression through the activities of the CIA, which protects and spreads to the whole world, the principle underlying American statehood - the exploitation of man by man.