Pictopip

 Happy New Year, Hope this Blog will be updating you with more content and educative ways to trade in 2021's forex market.

What determines the value of currency in the forex exchange market? If you do know the answer, good for you, if you don't, well there are certain conditions that vary such as economic or social factors i.e. GDP growth or unemployment caused by a pandemic, respectively. Research more on that. In this blog update, we will focus on the popular currencies that you will face and understand what affects their value. USD - US Dollar The US Dollar dominates the world foreign exchange market heavily. The US Dollar is the base or universal currency to evaluate any other currency traded on forex. Almost all currencies are generally quoted in US dollar terms. The US dollar currently represents about 86% of all foreign exchange market transactions. Most commodities (metals, oil etc.) are traded with prices denominated in US Dollars; as a result, any fluctuations in supply and demand of these commodities have direct impact on the value of US Dollar. This happened in 2008 financial crisis when oi...

You have an idea how fascinating and ideal how the forex market can be but where do you start? I asked myself the same question. I could personally tell you that what you need and what you ought to avoid. Low costs: avoid services that offer clearing fees, brokerage fees or commissions on profitable trades. Not to mention high bid/ask spreads that brokers profit from. Deposit rates: the forex market participation is huge, unquestionably, everyone can participate  depending on the size of your wallet. Always find a service that can cater to your needs. I personally deposit $5 (Ksh 500) on the service I use. Options: Hio ndio nini? services such as IQOPTION or EXPERT OPTION or any financial platform that tells you to take a trade before a certain time limit, AVOID! I'll cover this on another blog. Middlemen: avoid avoid avoid! people or services that directly trade your account on the market cause the risk of you losing capital is far more great than their unicorn promises of them m...