外汇交易是全球最大的金融市场,全球每天的交易量高达1.5万亿美元。外汇交易主要是在不同货币对之间进行的,表现在一个货币相对另一个货币的价格变化。交易者在价格起伏变化中寻找交易机会。
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Currency trading is a concept which dates back thousands of years. The exchanging of goods for goods known as barter has evolved and developed into the forex trading market that we see today. There are a handful of landmark moments which shaped the history of currencies trading.
Barter system (6000 BC)
Barter is the oldest method of exchange and was introduced by Mesopotamia tribes as early as 6000 BC. This method involved the trading goods for other goods with ships sailing from country to country with items such as food and animal skins.
Gold Coins (6th Century BC)
The first gold coins were produced in Lydia (Turkey) and recognised as the first known form of currency. These coins had the critical characteristics of currency as they were portable, durable and uniform. Aided by being limited in supply they were accepted over time with gold playing a pivotal role throughout the history of forex trading.
Gold Standard (1870s)
Once established as the accepted medium of exchange, gold eventually became impractical due to its weight. In the 1800s the gold standard was adopted and guaranteed that the government would exchange paper money for its value in gold.
Bretton Woods System (1944)
The forex market underwent a major transformation towards the end of World War II. The Bretton Woods System was introduced and established a set of rules for commercial and financial relations between the signatories of the agreement.
This included North America, Western European countries, Australia and Japan. The system created fixed international currency exchange rates.
Free-Floating System (1971)
Eventually there was not enough gold to back the amount of US Dollars in circulation which brought an end to the Bretton Woods System and led to the free floating of the US Dollar against other foreign currencies. The situation that the rate of exchange was no longer pre-determined creates an open forex market with the value of currencies being exposed to market forces such as supply and demand.
Internet Trading (1990s)
The combination of technology and globalisation resulted in the exponential growth of the forex market through internet trading. Currencies that were previously shut off and emerging markets could now be traded from anywhere in the world using an online forex trading platform.
Present Day
In less than two decades the forex market has become the largest financial market in the world. Trillions of dollars are traded on the forex market every day and are no longer limited to large banks and financial institutions. Individuals are now trading FX online in the same market conditions as corporate organisations thanks to advanced technologies such as the MetaTrader 4foreign exchange trading platforms.
全球最大的金融产品交易市场
外汇交易通常被理解为外汇兑换,指的是一种货币相对另外一种货币的价格。货币对之间的报价来自全球多个国家和机构,这是一种中心化的交易市场,整个市场将全球的经济体系连通起来,驱动汇率变化的因素有很多。
外汇市场是由现汇市场,期货衍生品市场,远期合同市场,掉期市场和差价合约市场构成的。诸多市场共同参与报价,使得整个外汇市场的流动性非常大,日交易量通常可达1.5万亿美元。并且整个市场是全天24小时每周5天可交易。
通常交易量最大的几个货币对被称为“主要货币对”。比如:欧元/美元,英镑/美元,美元/瑞郎,美元/日元
学习外汇交易知识
ZERO Markets 的外汇交易是CFD差价合约产品,在进行外汇交易的时候,交易者选择了一个货币对后可以做出买入或者卖出的决定。例如:货币对EUR/USD(欧元/美元)是最常见交易量最大的货币对,在这里欧元是基础货币,美元是报价货币。这个货币对价格的变化是相当对于1欧元可兑换的美元进行报价的。买入或者卖出指的是对欧元的买入或者卖出。
举例说明:假设EUR/USD(欧元/美元)报价为 1.2344,即为 1欧元 = 1.2344美元。
但交易者准备进行交易时,要先做好买入(多头)或者卖出(空头)的决定。以上面的欧元/美元为例,买入EURUSD后,当欧元对美元的价格就会升高,交易者即可从中获利;但是当欧元对美元价格下跌的时候,买入EURUSD就会亏损。
Trade EUR/USD
Opening Price
$1.33623 × 2 lot = $267,246
Closing Price At $1.32129 × 2 lot = $264,258Gross Profit on Trade $267,246 – $264,258 = $2,988
Closing Price At $1.34529 × 2 lot = $269,058Gross Loss on Trade $267,246 – $269,058 = -$1,812
The price of the Euro against the US Dollar (EUR/USD) is 1.33623/1.33624 and you decide to sell
2 standard lots (the
equivalent of €200,000) at 1.33623.
One week later the Euro has fallen against the US Dollar to 1.32128/1.32129 and you decide to
take your profit by buying
back 2 standard lots at 1.32129; if the Euro has increased against the US Dollar to
1.34523/1.34529, the trade loses $1,812.
Trade from 0.0 pips
| Standard account |
Super ZERO Account |
||||
|---|---|---|---|---|---|
| Symbol | PRODUCT DESCRIPTION | MIN | AVG | MIN | AVG |
| AUDCAD | Australian Dollar vs Canadian Dollar | 1.1 | 1.7 | 0 | 0.7 |
| AUDCHF | Australian Dollar vs Swiss Franc | 1.6 | 1.8 | 0 | 0.7 |
| AUDJPY | Australian Dollar vs Japanese Yen | 1.1 | 1.9 | 0 | 0.8 |
| AUDNZD | Australian Dollar vs New Zealand Dollar | 1.1 | 2.4 | 0 | 1.3 |
| AUDUSD | Australian Dollar vs Us Dollar | 1.1 | 1.4 | 0 | 0.3 |
| CADCHF | Canadian Dollar vs Swiss Franc | 1.5 | 2.1 | 0 | 1 |
| CADJPY | Canadian Dollar vs Japanese Yen | 1.2 | 2.3 | 0 | 1.2 |
| CHFJPY | Swiss Franc vs Japanese Yen | 1.1 | 4.2 | 0 | 3.1 |
| EURAUD | Euro vs Australian Dollar | 1.1 | 2.2 | 0 | 1.1 |
| EURCAD | Euro vs Canadian Dollar | 1.5 | 2.8 | 0 | 1.2 |
| EURCHF | Euro vs Swiss Franc | 1.3 | 2.2 | 0 | 1.1 |
| EURGBP | Euro vs Great Britain Pound | 1.1 | 1.6 | 0 | 0.5 |
| EURJPY | Euro vs Japanise Yen | 1.1 | 1.7 | 0 | 0.6 |
| EURNOK | Euro vs Norwegian Kroner | 5.2 | 117.6 | 28 | 110.1 |
| EURNZD | Euro vs New Zealand Dollar | 1.2 | 2.8 | 0 | 1.7 |
| EURPLN | Euro vs Polish Zloty | 1.7 | 74.2 | 19.1 | 70.9 |
| EURSEK | Euro vs Swedish Krona | 6.6 | 76.1 | 22 | 70.6 |
| EURSGD | Euro vs Singapore Dollar | 1.6 | 5.5 | 2.2 | 4.4 |
| EURTRY | Euro vs Turkish Lira | 1.6 | 763.8 | 206.5 | 760.7 |
| EURUSD | Euro vs Us Dollar | 1.0 | 1.2 | 0 | 0.1 |
| EURZAR | Euro vs South African Rand | 12.5 | 331.3 | 147.1 | 319.8 |
| GBPAUD | Great Britain Pound vs Australian Dollar | 1.6 | 2.5 | 0 | 1.4 |
| GBPCAD | Great Britain Pound vs Canadian Dollar | 1.1 | 2.6 | 0 | 1.5 |
| GBPCHF | Great Britain Pound vs Swiss Franc | 1.4 | 3.5 | 0.5 | 2.4 |
| GBPJPY | Great Britain Pound vs Japanese Yen | 1.1 | 2.2 | 0 | 1.1 |
| GBPNZD | Great Britain Pound vs New Zealand Dollar | 1.6 | 3.9 | 0 | 2.4 |
| GBPSEK | Great Britain Pound vs Swedish Krona | 8.1 | 136.6 | 63.3 | 131.9 |
| GBPSGD | Great Britain Pound vs Singapore Dollar | 1.2 | 7.1 | 3.2 | 5.9 |
| GBPUSD | Great Britain Pound vs Us Dollar | 1.1 | 1.7 | 0 | 0.6 |
| NZDCAD | New Zealand Dollar vs Canadian Dollar | 1.6 | 2.3 | 0 | 1.2 |
| NZDCHF | New Zealand Dollar vs Swiss Franc | 1.8 | 2.1 | 0 | 1 |
| NZDJPY | New Zealand Dollar vs Japanese Yen | 1.5 | 2.5 | 0 | 1.4 |
| NZDSGD | New Zealand Dollar vs Singapore Dollar | 1.6 | 5.3 | 2.1 | 4.2 |
| NZDUSD | New Zealand Dollar vs Us Dollar | 1.1 | 1.8 | 0 | 0.6 |
| USDBRL | Us Dollar vs Brazilian Real | – | 51.22 | 19.12 | 41.22 |
| USDCAD | Us Dollar vs Canadian Dollar | 1.1 | 1.8 | 0 | 0.7 |
| USDCHF | Us Dollar vs Swiss Franc | 1.1 | 2.5 | 0 | 1.3 |
| USDCNH | Us Dollar vs Chinese Yuan | 4 | 1.9 | 0 | 0.8 |
| USDHKD | Us Dollar vs Hong Kong Dollar | 1.9 | 7.3 | 1.9 | 6.2 |
| USDJPY | Us Dollar vs Japanese Yen | 1.0 | 1.4 | 0 | 0.3 |
| USDKRW | US Dollar vs South Korean won | 119.6 | 32 | 89.6 | |
| USDNOK | Us Dollar vs Norwegian Krone | 5.2 | 119.3 | 27 | 110.8 |
| USDPLN | Us Dollar vs Polish Zloty | 3.9 | 75.4 | 21 | 71.7 |
| USDSEK | Us Dollar vs Swedish Krona | 5.2 | 90 | 24.3 | 81.3 |
| USDSGD | Us Dollar vs Singapore Dollar | 0.3 | 3.7 | 0.6 | 2.6 |
| USDTRY | Us Dollar vs Turkey Lira | 1.7 | 597.2 | 117 | 594.7 |
| USDZAR | Us Dollar vs South African Rand | 4.8 | 144.5 | 22.4 | 131.6 |
| AUDSGD | Australian Dollar vs Singapore Dollar | – | 4.1 | 1.2 | 2.6 |
| CHFSGD | Swiss Franc vs Singapore Dollar | – | 6.1 | 2.2 | 6.1 |
| EURCZK | Euro vs Czech Koruna | – | 233.9 | 66.1 | 216.5 |
| EURDKK | Euro vs Danish Krone | – | 19.6 | 10.3 | 13.6 |
| EURHUF | Euro vs Hungarian Forint | – | 288.1 | 23 | 74.5 |
| EURMXN | Euro vs Mexican Peso | – | 123.1 | 34.1 | 103.1 |
| GBPDKK | Great Britain Pound vs Danish Krone | – | 34.1 | 12.4 | 28.1 |
| GBPMXN | Great Britain Pound vs Mexican Peso | – | 247.3 | 112.3 | 227.3 |
| GBPPLN | Great Britain Pound vs Polish Zloty | – | 140.2 | 63.7 | 138.7 |
| GBPTRY | Great Britain Pound vs Turkish Lira | – | 940.6 | 251.8 | 933.6 |
| USDCZK | US Dollar vs Czech Koruna | – | 213 | 57.2 | 195.6 |
| USDDKK | US Dollar vs Danish Krone | – | 20.6 | 5.3 | 14.6 |
| USDHUF | US Dollar vs Hungarian Forint | – | 292.1 | 22.8 | 78.5 |
| USDINR | US Dollar vs Indian Rupee | – | 32.9 | 10.6 | 12.9 |
| USDMXN | US Dollar vs Mexican Peso | – | 81.6 | 14.4 | 71.6 |
| USDTHB | US Dollar vs Thai Baht | – | 333.5 | 186.9 | 313.5 |
Globalisation has been one of the biggest drivers in the increased volume being traded on the forex market. One example of this is large multinational corporations who need to buy or sell one currency for another as they are obtaining revenue in numerous different currencies.
Companies can employ hedging strategies to reduce any risk exposure they may have due to fluctuations in currency values. Fluctuations in the forex market can have an adverse impact on critical aspects including costs, revenue and ultimately profit margin. This can be achieved using forward or swap markets.
A currency swap involves the swapping of two currencies at the maturity of the contract. An exchange of interest and sometimes principal are involved with companies often using this method to access lower interest rates in the local currency compared to money borrowed from a financial institution such as a bank.
Forward contracts involve paying a premium (interest based on the differential in the price of the two currencies) to purchase an asset for a specified price at a future date. One of the benefits of forward contracts is that the size, length, or maturity term are customisable. Companies with future payments or receipts can benefit from this by protecting their budget and profit margins from fluctuations in the forex market.
Hedging is a concept that is becoming more prominent among individuals in fx trading. Traders are using the strategy of opening additional positions to balance or offset current positions that will successfully limit risk exposure. The advanced user friendly forex trading platform offered by Zero Markets makes this process seamless.
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