OneForex is the newest addition to OneAcademy. It is an unique training program for individuals who want to enter the world of the Forex market and learn its secrets. Designed by top professionals it will take you step-by-step, level by level through all you need to become a real Forex trader!
In order to participate you must first choose a package from https://oneforex.eu/en/packages/. Then you need to log in to www.onelife.eu and buy the package you want. After that you will get all details you'll need to access the educational content in OneAcademy and educational accounts from the partner SmartHub Ltd
SmartHub Ltd is the official broker partner of the OneForex program. SmartHub Ltd is a licensed and regulated FOREX broker by the Vanuatu Financial Services Commission with license number 40255. SmartHub has been chosen because it povides competetive trading conditions for its clients. As partner of the program SmartHub Ltd will open an educational account for all participants who enrolled in the OneForex program. The account size depends on the package chosen by the client and the T&C of the program. For more information about SmartHub Ltd please visit www.smarthubfx.com
The Foreign Exchange Trading is also referred to as Forex, FX or Currency market, is the place where people may exchange national currencies, and win or lose because of the difference in the exchange rates in different time periods. Thus Forex is the simultaneous buying of one currency and selling of another.
The foreign exchange market works through FX brokers firms which provide the exchange services to the end-clients. The most of brokers are financial institutions and are regulated by financial regulators around the world. The market operates on several levels where the brokers and their clients are the lowest level. Behind the scenes small number of larger banks are acting as dealers and are actively involved in large quantities of foreign exchange trading. This behind-the-scenes market is sometimes called the “interbank market”. They supply the volumes needed to brokers. Because of the sovereignty issue when involving two currencies, forex has little (if any) supervisory entity regulating its actions.
FX Trading is not centralized on an exchange like the stock markets. The FX market is considered an Over the Counter (OTC) or 'Interbank' market, due to the fact that transactions are conducted directly between two counterparts over different communication media.
It has one of the biggest continuing working time in the word: 24 hours a day except weekends, starting trading from 22:00 GMT on Sunday in Sydney Australia until 22:00 GMT Friday in New York. Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
The Forex trading is possible only in comparison of one currency to another. Thus the trading is in currency pairs. A currency pair is the quotation and pricing structure of the currencies traded. The value of specific currency is a rate determined by its comparison to another currency. The first listed currency of a currency pair is called the base currency, and the second currency is called the quote currency.
The most often traded currencies are those of countries with stable governments, respected central banks, and low inflation. Today, over 85% of all daily transactions involve trading of the major currencies, which include the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and the Australian Dollar (AUD).
In trading parlance, a long position is one in which a trader buys a currency at one price and aims to sell it later at a higher price. In this scenario, the trader benefits from a rising market. A short position is one in which the trader sells a currency in anticipation that it will depreciate. In this scenario, the trader benefits from a declining market. However, it is important to remember that every FX position requires a trader to go long in one currency and short in the other.
Intraday positions are all positions opened anytime during the 24 hour period after the close of normal trading hours. Overnight positions are positions that are still on at the end of normal trading hours, which are automatically rolled at competitive rates (based on the currencies' interest rate differentials) and applied directly to your account balance.
Bid/Ask - Prices are quoted two-way as “Bid/Ask”. The Bid represents the price at which a trader can sell the base currency and this price is shown to the left in a currency pair. The Ask represents the price at which a trader can buy the base currency and this price is shown to the right in a currency pair.
Spread - The difference between the Bid and the Ask (Offer) price.
Rollover - A rollover is the simultaneous closing of an open position for today's value date and the opening of the same position for the next day's value date at a price reflecting the interest rate differential between the two currencies.
In the spot forex market, trades must be settled in two business days. For example, if a trader sells 100,000 Euros on Tuesday, then the trader must deliver 100,000 Euros on Thursday, unless the position is rolled over. As a service to customers, all open forex positions at the end of the day (5:00 PM New York time) are automatically rolled over to the next settlement date. The rollover (or swap) adjustment is simply the accounting of the cost-of-carry on a day-to-day basis.
Currency prices are affected by a variety of economic and political conditions, most importantly interest rates, inflation and political stability. Moreover, governments sometimes participate in the Forex market to influence the value of their currencies, either by flooding the market with their domestic currency in an attempt to lower the price, or conversely buying in order to raise the price. This is known as Central Bank intervention. Any of these factors, as well as large market orders, can cause high volatility in currency prices.
The most common risk management tools in FX trading are the limit order and the stop loss order. A limit order places a restriction on the maximum price to be paid or the minimum price to be received. A stop loss order ensures a particular position is liquidated at a predetermined price in order to limit potential losses should the market move against a trader's position. Contingent orders may not necessarily limit your risk for losses.
Currency traders make decisions using both technical factors and economic fundamentals. Technical traders use charts, trend lines, support and resistance levels, and numerous patterns and mathematical analyses to identify trading opportunities, whereas fundamentalists predict price movements by interpreting a wide variety of economic information, including news, government-issued indicators and reports, and even rumor. The most dramatic price movements however, occur when unexpected events happen. The event can range from a Central Bank raising domestic interest rates to the outcome of a political election or even an act of war. Nonetheless, more often it is the expectation of an event that drives the market rather than the event itself.