How to check the quote?

Since you often compare one currency to another, forex is quoted in pairs. This may seem confusing at first, but it is actually very straightforward. For example, EUR/USD is 1.4022, showing how much USD (USD) is worth 1 Euro (EUR).

What is foreign exchange?

Forex/FX is a common abbreviation for “Forex”, which is generally used to describe investors and speculators who buy and sell foreign exchange in the foreign exchange market. The familiar phrase of “buy high and sell high” does apply to foreign exchange transactions. Forex traders buy low-priced currencies and sell high-priced currencies, just as stock traders buy low-priced stocks and sell high-priced stocks.

What is the exchange rate?

The foreign exchange market is a globally dispersed market with the relative value of different currencies. Unlike other markets, foreign exchange does not centrally handle depository or redemption. Instead, these transactions were conducted by several market participants in several places. It is rare for the value of any two currencies to be the same as the other, and it is rare for any two currencies to maintain the same relative value for more than a short period of time. In the case of foreign exchange, the exchange rate between the two currencies is often changing.
For example, on January 3, 2011, 1 Euro was worth about $1.33. On May 3, 2011, 1 Euro was worth about 1.48 US dollars. During this time, the value of the euro relative to the dollar rose by about 10%.

What is overnight interest?

Overnight interest is the difference in interest included in a currency transaction, also known as interest rate swaps, or swap rates.
To simplify the problem, let's first look at how forex trading works. Forex trading is when you borrow one currency to buy another. For example, if you buy EUR/USD, it means you borrowed dollars to buy the euro. In the process, you need to pay interest on borrowed dollars, and you also get interest on the euro you buy. 
Where can I view overnight interest rates?
The MT4 platform displays overnight interest rates and follows the steps below:
1) Click "View" in the menu above the platform
2) Select "Trader List"
3) Select the currency pair you need to view overnight interest, then click on the "Properties" button
4) In the pop-up window, you can view the “buy order adjustment inventory fee” and “sell order adjustment period inventory fee”.
How to calculate overnight interest?
The calculation process is as follows:
Current Buy/Sell overnight interest* Trading Lot = overnight interest in quote currency
Example 1
The settlement currency of the account is Australian Dollar. You have 1 lot of AUD/USD to pay on February 5, 2015:
+4.96 * 1 = $4.96, converted to your account settlement currency = $6.35, your account earned overnight interest.
Example 2
 The current billing currency for the account is USD, and you hold 2.5 EUR/GBP Sell orders on February 5, 2015:
-1.08 * 2.5 = -2.7 pounds, convert to your account settlement currency = -4.13 US dollars, your account paid overnight interest. 
When will the overnight interest be calculated?
The overnight interest rate is calculated at 4:59 pm THINKTRADER platform time (US Eastern Time), which is 11:59 PM (GMT+2) of MT4 platform time. Overnight interest is settled in positions opened before 4:59 pm and held at this point in time. For weekend reasons, triple overnight interest will be settled at 4:59 pm every Wednesday. Please note that this is a general rule for the calculation of overnight interest. If you encounter a public holiday, the rules for calculating the overnight interest rate may change.

How to register for MT4 account

Please ensure that you have carefully read our terms and conditions of use before investing in HCFX's leveraged products. You should understand the characteristics of the service. The website displays a series of financial information, but due to various reasons such as financial market volatility, the related information may quickly become unreliable or change. Our company is not obligated to offer special offers at quotes in any particular market. You should also be aware of the risks associated with using Internet-based or mobile-based systems to trade leveraged products, including but not limited to hardware, software failures, and Internet connection failures. Websites and services are specifically designed to be used only by individuals or entities with extensive experience and financial-related knowledge to be able to assess the financial and market information displayed on the website and the advantages and risks of trading financial contracts.

Who are the participants in the

The main participants in the foreign exchange market: From the perspective of the main body of foreign exchange transactions, the foreign exchange market is mainly composed of the following participants:
  (1) Foreign exchange banks: Foreign exchange banks refer to banks designated or authorized to operate foreign exchange business by central banks or monetary authorities. A foreign exchange bank is usually a commercial bank. It can be a domestic bank that specializes in foreign exchange, a domestic bank that also operates foreign exchange business, or a branch of a foreign bank in the country. Foreign exchange banks are the most important participants in the foreign exchange market, and their foreign exchange transactions constitute a major part of the foreign exchange market activities.
  (2) Foreign exchange dealers: Foreign exchange dealers refer to trading companies or individuals that buy or sell foreign money orders. Foreign exchange dealers use their own funds to buy and sell foreign exchange bills, from which they can obtain bid-ask spreads. Foreign exchange dealers are mostly trust companies, banks and other businesses, as well as companies and individuals specializing in such businesses.
(3) Forex broker : A foreign exchange broker refers to an intermediary who facilitates foreign exchange transactions. It is between the foreign exchange banks, foreign exchange banks and other participants in the foreign exchange market. It does not trade foreign exchange itself, it only connects foreign exchange buyers and sellers, facilitates transactions, and collects commissions from them. Forex brokers must be approved by the central bank of the country in which they operate.
  (4) Central Bank: The central bank is also the main participant in the foreign exchange market, but its main purpose in participating in the foreign exchange market is to maintain exchange rate stability and rationally adjust the international reserve. It adjusts the supply and demand of funds in the foreign exchange market by directly participating in the foreign exchange market. Relationship, so that the exchange rate is maintained at a certain level or limited to a certain level. The central bank usually sets up a foreign exchange parity fund. When the market for foreign exchange is over-supply, when the exchange rate rises, it sells foreign currency and recovers the local currency. When the market exceeds supply and the exchange rate falls, it buys foreign currency and puts the local currency. Therefore, in a sense, the central bank is not only a participant in the foreign exchange market, but also an actual manipulator in the foreign exchange market.
  (5) Foreign exchange speculators: Foreign exchange trading of foreign exchange speculators is not based on the actual needs of international payment, but uses various financial instruments to make a certain margin in the exchange rate changes to pre-buy and pre-sell, and earn exchange rate differences.
  (6) Actual foreign exchange suppliers and actual demanders: The actual suppliers and actual demanders of foreign exchange in the foreign exchange market are individuals or companies that use the foreign exchange market to complete international trade or investment transactions. They include: importers, exporters, international investors, multinational companies and tourists.

What is foreign exchange tradin

Forex trading is a foreign currency exchange for another foreign currency. The quote is the exchange rate and is usually expressed in terms of the exchange ratio between the two currencies, for example: USD/JPY, GBP/JPY. The exchange rate is the first currency (as the base currency) and the second currency (as the denomination currency) to represent the price. Forex trading is a method of forex trading that simultaneously buys one of a pair of currency pairs and sells another currency. The exchange rates of various currencies in the international market fluctuate frequently and are traded in the form of currency pairs, such as EUR/USD or USD/JPY.
The main advantage of the foreign exchange market is its high transparency. Due to the huge volume of transactions, the main funds (such as government foreign exchange reserves, exchange of funds from multinational consortia, and capital operation of foreign exchange speculators) have limited influence on market exchange rate changes. On the other hand, in terms of fundamental analysis of exchange rate fluctuations, important data that can be greatly affected are usually published by governments (such as GDP, GNP central bank interest rates), speeches of senior government officials, or international organizations (such as The news released by the European Central Bank.
The foreign exchange market has no specific location, no central exchange, and all transactions are conducted between banks through the network. Any financial institution, government or individual in the world can participate in the transaction 24 hours a day.
The foreign exchange market operates continuously for 24 hours, rising and falling, and never stops. Its trend is like the day and night transition on the earth, and it will start again and again. Correspondingly, the exchange rate market trend is divided into four stages: bottoming, rising, building head and falling.
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