28 November 2011

Which Currencies Are Traded?


Symbol                      Country                     Currency                  Nickname
USD                           United States              Dollar                            Buck
EUR                           Euro members            Euro                              Fiber
JPY                             Japan                           Yen                               Yen
GBP                            Great Britain               Pound                          Cable
CHF                            Switzerland                 Franc                            Swissy
CAD                           Canada                        Dollar                            Loonie
AUD                           Australia                       Dollar                            Aussie
NZD                            New Zealand               Dollar                            Kiwi

Forex currency symbols are always three letters, where the first two letters identify the
name of the country and the third letter identifies the name of that country’s currency.


When Can Currencies Be Traded?


The spot FX market is unique within the world markets. It’s like a Super Wal-Mart where
the market is open 24-hours a day. At any time, somewhere around the world a financial
center is open for business, and banks and other institutions exchange currencies every
hour of the day and night with generally only minor gaps on the weekend.
The foreign exchange markets follow the sun around the world, so you can trade late at
night (if you’re a vampire) or in the morning (if you’re an early bird). Keep in mind though,
the early bird doesn’t necessarily get the worm in this market - you might get the worm but
a bigger, nastier bird of prey can sneak up and eat you too…

Time Zone                            New York                              GMT
Tokyo Open                           7:00 pm                                  0:00
Tokyo Close                          4:00 am                                  9:00
London Open                       3:00 am                                  8:00
London Close                       12:00 pm                                17:00
New York Open                    8:00 am                                  13:00
New York Close                   5:00 pm                                  22:00

What is FOREX ?


The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex"
or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of
about $3 trillion a day. If you compare that to the $25 billion a day volume that the New
York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really
is. It actually equates to more than three times the total amount of the stocks and futures
markets combined! Forex rocks!

What is traded on the Foreign Exchange?
The simple answer is money. Forex trading is the simultaneous buying of one currency and
the selling of another. Currencies are traded through a broker or dealer, and are traded in
pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and
the Japanese Yen (GBP/JPY).
Because you're not buying anything physical, this kind of trading can be confusing. Think of
buying a currency as buying a share in a particular country. When you buy, say, Japanese
Yen, you are in effect buying a share in the Japanese economy, as the price of the currency
is a direct reflection of what the market thinks about the current and future health of the
Japanese economy.

In general, the exchange rate of a currency versus other currencies is a reflection of
the condition of that country's economy, compared to the other countries' economies.
Unlike other financial markets like the New York Stock Exchange, the Forex spot market
has neither a physical location nor a central exchange. The Forex market is considered an
Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run
electronically, within a network of banks, continuously over a 24-hour period.
Until the late 1990 only the a big guys could play this game. The initial requirement was
that you could trade only if you had about ten to fifty million bucks to start with! Forex was
originally intended to be used by bankers and large institutions - and not by us as a little
guy. However, because of the rise of the Internet, online Forex trading firms are now able to
offer trading accounts to 'retail' traders like us.
All you need to get started is a computer, a high-speed Internet connection, and the information
contained within this site.
This e-book was created to introduce novice or beginner traders to all the essential aspects
of foreign exchange, in a fun and easy-to-understand manner.

What is a Spot Market?
A spot market is any market that deals in the current price of a financial instrument.

USDCAD


Technique 2 (USDCHF)


Technique 2 (AUDUSD)


EURUSD


AUDUSD


Technique 2


PD


Profit


NFP


USDCHF


USDCAD


NZDUSD


EURUSD


AUDUSD


USDCHF


USDJPY


USDCAD


NZDUSD


GBPUSD


EURUSD


AUDUSD


USDCHF


USDJPY


USDCAD


NZDUSD


GBPUSD


EURUSD


AUDUSD


27 November 2011

Foreign Electronic Brokers Allowed to Offer Electronic Broking Platforms in the Malaysian Foreign Exchange Market



Bank Negara Malaysia wishes to announce that foreign electronic brokers would be allowed to offer electronic broking platforms for wholesale interbank trading in the Malaysian foreign exchange market with effect from 1 July 2010.

This initiative is aimed towards enhancing the participation of new players in the foreign exchange market to further increase the dynamism and competitiveness of this market. This flexibility will promote greater trading activities as electronic broking platform increases transparency, improves market efficiency and lowers transaction costs for the market participants.

Foreign electronic brokers who are interested to provide such service in Malaysia may submit the application to Bank Negara Malaysia in accordance with the requirements of the Banking and Financial Institutions Act 1989. In assessing the merits of such application, the following criteria will be adopted:

(i)The applicant must comply with the local incorporation requirement;
(ii) The applicant must have a sound track record internationally;
(iii) The applicant must have a feasible business proposition to contribute to the development of the foreign exchange market in Malaysia; and
(iv) The applicant must have system capability and infrastructure to support its business, including to address contingency and disaster recovery procedures.
Further details or application shall be directed to:

Director
Financial Sector Development Department
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur
Tel: 603 - 26919885 or 603-26907593
Fax: 603 - 26913661
Email: 
feb@bnm.gov.my

Bank Negara Malaysia 
25 June 2010

Malaysia Bank Swift Code



Bank Name: ABN Amro Bank C.V.
SWIFT Code: 
ABNAMYKL

Bank Name: Arab Islamic
SWIFT Code: 
AISLMYKL
Bank Name: Al Rajhi Banking and Investment Corporation (Malaysia) Berhad
SWIFT Code: 
RJHIMYKL
Bank Name: Affin Bank Berhad
SWIFT Code: 
PHBMMYKL
Bank Name: Affin Islamic Bank Berhad
SWIFT Code: 
AIBBMYKL
Bank Name: Alliance Bank Malaysia Berhad
SWIFT Code:
 MFBBMYKL
Bank Name: Ambank Berhad
SWIFT Code: 
ARBKMYKL
Bank Name: Aminvestment Bank Berhad
SWIFT Code: 
AMMBMYKL
Bank Name: Bangkok Bank Public Company Ltd
SWIFT Code: 
BKKBMYKL
Bank Name: Bank Islam Malaysia Berhad
SWIFT Code: 
BIMBMYKL
Bank Name: Bank of America Malaysia Berhad
SWIFT Code: 
BOFAMY2X
Bank Name: Bank of China (Malaysia) Berhad
SWIFT Code: 
BKCHMYKL
Bank Name: Bank of Nova Scotia Berhad
SWIFT Code: 
NOSCMYKL
Bank Name: Bank Muamalat Malaysia Berhad
SWIFT Code: 
BMMBMYKL
Bank Name: Bank Negara Malaysia
SWIFT Code: 
BNMAMYKL
Bank Name: Bank Simpanan Nasional
SWIFT Code: 
BSNAMYKL
Bank Name: Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad
SWIFT Code: 
BOTKMYKX
Bank Name: CIMB Bank Berhad
SWIFT Code: 
CIBBMYKL
Bank Name: CIMB Investment Bank Berhad
SWIFT Code: 
COIMMYKL
Bank Name: Citibank Berhad Malaysia
SWIFT Code: 
CITIMYKL
Bank Name: Commerce Tijari Bank Berhad
SWIFT Code: 
CTBBMYKL
Bank Name: Deutsche Bank AG
SWIFT Code: 
DEUTMYKL
Bank Name: EonCap Islamic Bank Berhad
SWIFT Code: 
EIBBMYKL
Bank Name: Eon Bank Berhand
SWIFT Code: 
EOBBMYKL
Bank Name: Export-Import Bank of Malaysia Berhad
SWIFT Code: 
EXMBMYKL
Bank Name: Hong Kong Bank Malaysia Berhad
SWIFT Code: 
HBMBMYKL
Bank Name: Hong Leong Bank Berhad
SWIFT Code: 
HLBBMYKL
Bank Name: Hong Leong Islamic Bank Berhad
SWIFT Code: 
HLIBMYKL
Bank Name: Hwang-DBS Investment Bank Berhad
SWIFT Code: 
HDSBMY2P
Bank Name: J.P. Morgan Chase Bank Berhad
SWIFT Code: 
CHASMYKX
Bank Name: KBC Bank
SWIFT Code: 
KREDMYKX
Bank Name: Malayan Banking Berhad
SWIFT Code: 
MBBEMYKL
Bank Name: Mizuho Corporate Bank Ltd
SWIFT Code: 
MHCBMYKA
Bank Name: OCBC Bank (Malaysia) Berhad
SWIFT Code: 
OCBCMYKL
Bank Name: Public Bank Berhad
SWIFT Code: 
PBBEMYKL
Bank Name: RHB Bank Berhad
SWIFT Code: 
RHBBMYKL
Bank Name: RHB Investment Bank Berhad
SWIFT Code: 
RHBMMYK1
Bank Name: RHB Islamic Bank Berhad
SWIFT Code: 
RHBAMYKL
Bank Name: Standard Chartered Bank Malaysia Berhad
SWIFT Code: 
SCBLMYKL
Bank Name: United Overseas Bank (Malaysia) Berhad
SWIFT Code: 
UOVBMYKL

EURUSD


AUDUSD