How to scalp foreign exchange and Trade in Foreign currency?

Compared with the stock market, foreign investment as linked to the international market, so there are specifications for the corresponding procedures, including account opening, quotes, trading, confirmation, delivery of 5 steps. Ready to enter the currency markets investors should be concerned, especially the first two steps.

Account

Bank of China, Agricultural Bank of China, ICBC, China Construction Bank, Bank and Minsheng Bank have opened a personal foreign exchange trading business. Services of these banks have their own characteristics, have launched counter and telephone agency transaction. For example, the Bank of China, investors have some foreign exchange as long as (the amount of each bank account the different starting point), and to bring my ID card, you can go to any one of the bank branch to open an account, fill in the personal foreign exchange trading in the application form and signed After the opening of "foreign exchange Po business" with the telephone commissioning services, to complete the account opening. The Minsheng Bank and China Merchants Bank is considering simplifying formalities, no special application for foreign exchange trading book, not yet complete.

In general, do not need to pay the fee. Variety of banking services in recent years has been constantly enriched and introduced the "foreign financial treasure" or online chao and other services, also offers large transactions, on the whole, the overall level of service to all banks not much difference, but in favorable the types of advantages.

Quote

After the user was finished, we must learn to focus on offer, you can directly lobby of the bank, but also directly to the Internet at home, which play the stock market the same. Foreign exchange offer is to buy or sell kind of currency. China's banks offer foreign exchange trading is a personal reference to the international foreign exchange market spot exchange rate plus a margin determined after point of difference. Quote bid and ask price divided, generally speaking, domestic banks can trade the currency has 8, the U.S. dollar, the Hong Kong dollar, Japanese yen, euro, British pound, Australian dollar, Swiss franc, Canadian dollar. Some banks also offer the Singapore dollar business. For starters, we need to focus on the identification of two concepts:

1, in accordance with international practice, the Hong Kong dollar, Japanese yen, Swiss franc, Canadian dollar direct quotation, that: 1 U.S. dollar can be exchanged for the number of units of the currency to the dollar equivalent to the number of quotations. Domestic banks offer personal foreign exchange trading, large screen display at the counter, use red, green and yellow marked changes in the exchange rate. Down red, green rose, yellow flat.

2, the foreign exchange market, up or down are for the purchase of one currency in terms of the former. Such as the U.S. dollar against the yen offer is green, it means that, compared with the previous quote, the dollar rose against the yen, the dollar can be exchanged for more units of the yen; the other hand, the U.S. dollar against the yen offer is red , then the U.S. dollar against the yen prices fell.