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! Check out our educational packages here and find which one is the best fit for you!
In order to participate and start learning how to become a knowledgable and successful trader, you must first choose one of our various educational packages, which can found here. Once you've found the package that is right for you, click 'GET PACKAGE' and log in to your OneLife account, then complete the purchase for the package you chose. After you have bought your package, you will receive all the details you need to access the educational content in OneAcademy as well as the educational account from our partner, SmartHub Ltd!
SmartHub Ltd is the official broker and 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 provides competetive trading conditions for its clients. As a 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 SmartHubFx.com.
Foreign Exchange Trading is also referred to as Forex, FX, or Currency market. This market is where people can exchange national currencies by simultaneously buying one currency and selling another. Forex is the biggest market in the world; there are 5 Trillion US Dollars passing through the Forex Market EVERY DAY. This creates a huge opportunity for traders! However, depending on which currencies you exchange and when, you can make or lose money due to the difference in price over time.
The key to being a successful trader is knowing which currencies to exchange and when. However, this is easier said than done. There are many things you need to know in order to be a consitently successful trader. This is the reason we created our OneForex educational packages, so that anyone can learn how Forex trading works and how to profit from it! Whether you're new to the market or a seasoned veteran, they will teach you everything you need to know to build your financial independence on the world's biggest market!
The foreign exchange market works through FX broker firms, which provide the exchange services to the end-clients. The majority 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, a 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. Due to the sovereignty issue when involving two nations' currencies, the Forex market has little (if any) supervisory entity regulating its actions.
It's everywhere! The Forex Market is not centralized on any exchange, like the stock markets are. The FX market is considered an Over the Counter (OTC) or 'Interbank' market due to the fact that transactions are conducted directly between two parties over many different types of communication media. Due to these factors, the Forex market can grow freely, which is one of the many reasons it is the single largest market in the world, with over 5 Trillion Dollars circulating DAILY!
The Forex Market has one of the longest continuing trading hours in the world: 24 hours a day, except weekends. Trading starts from 22:00 GMT on Sunday in Sydney, Australia and end at 22:00 GMT on 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 finally in New York. A huge benefit of this fact is that 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.
Forex trading is only possible by comparison of one currency to another. Therefore, the trading is only done in currency pairs, such as EUR/USD. A currency pair is the quotation and pricing structure of the currencies traded. The value of a 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, 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. The opposite is called a 'short' position, which is when a 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' on one currency in the pair and 'short' on the other. In our educational packages, you will learn how to identify which position is better for you, depending on the current status of the market.
Intraday positions are all positions that are closed on the same business day that they were opened. Overnight positions are positions that are still open at the end of normal trading hours. Overnight positions are automatically rolled over at competitive rates (based on the currencies' interest rate differentials) and then 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 (also called the Offer) 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 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, by buying it 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. In our educational packages you will learn how to identify these factors and, more importantly, how to successfully trade using them!
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 in case the market moves against a trader's position. Contingent orders may not necessarily limit your risk for losses. This is covered in greater detail in our educational packages, find which one is right for you and begin learning how to trade successfully!
Currency traders make decisions using both technical factors and economic fundamentals. Technical traders use charts, trend lines, support and resistance levels, numerous patterns, and mathematical analysis to identify trading opportunities. 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. Such events can range from a Central Bank raising domestic interest rates, to the outcome of a political election, or even an act of war. Nevertheless, more often than not, it is the expectation of an event that drives the market rather than the event itself.
Our educational packages teach our members how to use these strategies in order to be a consistently profitable trader, find which one is right for you and begin learning how to trade successfully!