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WHAT IS FOREX

Introduction

Continuous process of currency exchange is determined by a large variety of causes starting from terms of payment for contracts, made by transnational corporations till receiving of bank credit on lower interest rates.

A unique telecommunication network has been formed because of constant need of currency exchange. It gives a possibility to million currency sellers and buyers to carry out swap twenty four hours a day from any part of the word.

Total of conversion operations on currency exchange in the word was called FOREX (Foreign Exchange Market).

During the process of formation of foreign exchange market a new kind of business appeared that was based on making profit from currency difference in the conditions of free and constant changes of exchange rates. Change of exchange rates is determined by different market conditions and regulated only by demand and supply. Investors that carry out such operations are called traders.

At present everybody can test oneself as the trader in the foreign exchange market. It is possible to start the career of trader at any age. Education and experience of previous work do not have such influence to trader's success as inborn analytic abilities and skills to feel the market behaviour in some degree.

Modern look to FOREX

For the last three decades Forex market had integrated into the world's biggest financial market. The volume of daily transactions is about 1-3 trillion of US dollars. The main currencies on this market are US dollar (USD), single European currency Euro (EUR), Japanese yen (JPY), Swiss frank (CHF), British pound sterling (GBP). The market players are the banks, international corporations and export-import firms, various funds and individual investors. Nowadays millions of people around the world conduct trading/gaming operations on Forex market and gain the real profit due to fluctuation of currency's rates.

he operations on the currency market are one of the main sources of income for banks and financial institutions all around the world. For example, 80% of the total income of the biggest Swiss bank - Union Bank of Switzerland (UBS) in 1994 came from conversional operations with currencies and only 20% f income from credits and securities trade.

Of course monetary assets of different countries have been exchanged since the term "money" appeared and an idea to obtain profit from currency's rates difference is not new . But the transformation of the foreign exchange market to the modern stage with an opportunity to conduct conversional operations of such volumes arose only after an introduction of "floating rates regime" by the member states of International Monetary Fund. Within this regime's framework the rate of one currency to another is defined only by the supply and demand on the market, thus it is not fixed but changes every second.

Presen-day Forex market is a global telecommunication network of banks and different financial organizations. It does not have any fixed trading place and time restrictions - trading session starts on Monday morning in New Zealand and closes on Friday evening in USA. Any person regardless of his/her whereabouts may become a market participant because only appropriate knowledge and access to Internet are needed for trading operations.

Main advantages of FOREX market

  • Liquidity. Forex market works with huge amounts of money and gives the customers complete freedom to open or close their position of a different volume at current price.
  • Leverage. The main distinction of working on Forex market is that the player has an opportunity to purchase and sale currency without having the full sum of money needed for operation. To make a deal the player has to make initial deposit (margin) after which he/she can make deals amount of which exceed the invested money by many times. It is so called "leverage". So in case you deposit 10 000 USD into your account You will have an opportunity to work with 1 000 000 USD.
  • Round-the-clock trading access. The ability to trade for 24 hours a day (see: Work time).
  • Globality and ubiquity. Trading operation may be carried out from any pat of the globe, where Internet-access is available.
  • Absence of commission. Our Company does not withhold any commission fee from trade operations conducted on Forex.

An example of a financial operation


You have 700 US dollars on your trading account in Forex Ukraine. Due to free leverage 1:100 provided to You by our Company, it is possible for You to conduct any operation of value up to 70000 US dollars.

Having thoroughly analysed the current market situation and examined necessary analytical materials You made a conclusion that during the next few days British pound sterling (GBP) rate to US dollar (USD) would probably rise.

On the basis of such a conclusion You bought a certain sum of English pound sterling (for example, 30000 GBP) for US dollars at the rate of 1.9800 USD for 1 GBP (consequently, You paid 59400 USD). On the next day the rate of English pound sterling for US dollar rose up to 1.9950 USD for 1 GBP and You carried out inverse exchange operation by selling 30000 pounds at the current rate. So after this operation You will get 59850 US dollars.

Your net income by the result of this deal is 450 US dollars (59850 59400).

Forex Ukraine gives an opportunity to its Clients to conduct operations with 17 different currency pairs as well as with US dollar Index and Euro Index. Together with currency pairs the Client has an opportunity to conduct operations with shares of the largest US Companies and different future contracts. More detailed information about indicated financial instruments You can get on the page What is CFD.

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