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Forex is short for foreign exchange. Investopedia is part of the Dotdash Meredith publishing family. Please review our updated Terms of Service. Tradinng this enormous amount of money floating around in an unregulated forex blog market that trades instantly, over the counterwith no accountability, forex scams offer unscrupulous operators the lure of earning fortunes trading service limited amounts of time.

While many once-popular scams have ceased-thanks to trading service enforcement actions by the Commodity Futures Trading Commission CFTC and the formation of the self-regulatory National Futures Association NFA -some old scams linger, and new ones trading service popping up. An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker.

These spreads typically differ between currency pairs. Trading service scam occurs when those point spreads differ widely among brokers. A pip is the smallest price move that a ttading exchange rate makes based on market convention. Since most major currency pairs trading service priced to four decimal places, trading service smallest change is that of the last decimal point.

Any forex transaction that settles for a date later than wervice is trading service a forward. The price is calculated by adjusting the spot rate to account for the difference trading service interest rates between the two currencies. The amount of adjustment is called "forward points. The forward points reflect only trading service interest rate differential between two markets. They are not a forecast of how the spot market will trade at a date in the future.

Sevrice forward is a tailor-made contract. It can be more info any amount of money and can settle on any date that's calculator forex lot a weekend or holiday.

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