The foreign exchange market is a 24/7 global marketplace where participants buy and sell the world’s currencies. Many currencies trade on the open market where prices are determined according to the price at which market participants are willing to buy or sell a particular currency in exchange for another. Forex is the largest and most liquid market in the world. While there is no single physical location, the majority of trading activity takes place in London.
How do people make money trading forex?
As in other market environments, if a market participant buys an asset at a price lower than the price that the participant is able to sell the asset for a some point in the future, the individual is able to realize a profit on that trade. For example, if earlier today you purchased some Japanese Yen in exchange for US Dollars, and the value of US Dollars had since decreased relative to the Yen, you would be able to buy back more US Dollars than you started with (i.e. you would generate a profit in US Dollar terms). Market participants make money by buying and selling the right currency pairs at the right time.
Is forex trading legal?
Yes. In fact, government central banks engage in currency trading on a major scale.
How does forex trading work?
A forex trade takes place when a market participant buys one currency in exchange for another (e.g. buy Japanese Yen in exchange for US Dollars). All trades are executed through a forex broker or dealer.
What is pip?
Pip stands for ‘percentage in point’ and refers to the smallest price increment available to forex traders. For example, if the USD/AUD bid price increases from 1.2000 to 1.2010, the pair is said to have increased by 10 pips.
Note: All currencies except for the Japanese Yen are quoted to four decimal places. The Japanese Yen is quoted to two decimal places.
What is leverage?
Leverage allows traders to invest with borrowed money to amplify their trading performance. When using leverage a trader is able to enter into much larger contracts than their underlying deposit would normally allow. If a broker offered leverage of 200:1, the trader would be able to buy or sell $20,000 worth of currencies with a margin deposit of $100.
What are stop-loss orders for?
Stop-loss orders allow traders to set limits where the position will be automatically liquidated. They are a useful way to reduce risk if the market moves in an unfavorable direction.
How are the signals generated?
Our team has spent years developing sophisticated financial models and advanced computer software that analyze market movements to determine the best time to buy or sells currency pairs. The software is focused on predicting pivot points for select currency pairs.
What is OmniForex Signals?
OmniForex is a service that provides users with indications as to when it is a good time to buy or sell on the foreign exchange market.
How does OmniForex Signals work?
OmniForex provides users with signals that recommend the timing of currency trades. The signals are identified by a sophisticated set of computer algorithms. The user can simply follow the instructions to buy or sell a particular currency pair using a forex platform.
How often are the Signals generated?
Currency traders normally specialize in one of three trading frequencies: intraday (i.e. up to 6 trades in a single day with no positions left open overnight); daily (i.e. one trade per day); or weekly (i.e. one trade per week). Users can select which strategy they would prefer depending on the amount of time they are able to spend on their trading, as well as their personal investment style.
What does it cost to use OmniForex?
OmniForex is a subscription service – beyond the stated membership fees there are no fees to be paid in order to use the service. Users are invited to try the full-featured service for an initial 3-day period for $4.99. After the trial period has ended, the monthly membership is $99.90. This cost does not include money for trading or brokerage services.
How much money do I need to use OmniForex successfully?
It depends on the amount of leverage made available to you by your Forex broker as well as the minimum trading amount. Some brokerages will allow you to use a high level of leverage (up to 400:1) so for every $1 that you invest you will be exposed to market movements as if you were trading with $400. What’s more, some brokerages will allow you to start trading with as little as $1. Yes one dollar.
How does OmniForex compare to other signal systems?
OmniForex is a fully automated signaling service – it does not require you to do any of the market analysis manually. Many so-called systems simply suggest methods that you can use to time forex transactions without signaling specific trades.
How do I get paid?
This will be determined your selected forex broker. Brokers are generally able to transfer earnings into your bank account regardless of the currency that your account is denominated in.
Can I use OmniForex anywhere in the world?
Yes, all that is required to use OmniForex is a computer with an internet connection.
Will you really give me my money back, if the program doesn't work?
Yes. Our official return policy is as follows:
We will, at our option, replace or repair any defective product within 60 days from the date of purchase. After 60 days all sales are final.
Am I able to cancel my membership at anytime?
Cancellation must be made at least 24 hours before the end of the current membership period in order to prevent billing for the following month.
What happens when I purchase OmniForex?
After you make a purchase you will be invited to create a username and password. You will then be able to access the Members Area which provides information about how to use OmniForex Signals. In the Members Area you will also be able to choose when your preferred trading strategy.
Do I need a special skills to use OmniForex?
No. OmniForex only requires basic computer skills and a sound understanding of the English language.
Yes. The system makes all recommendations automatically: trade entry times, trade exit times and stop-loss amounts for each of the currency pairs listed above. It does not require the user to think about whether or not a trade should be made.
How should I use the signals?
The signals should be used to execute trades. As the algorithms rely on predicting market pivot times, there is no information provided about price level data. The user should log on to OmniForex the night before a trading day to see the signals for the following day.
Which pairs should I trade?
The user can select whichever pairs he or she chooses. It is recommended that the user continues to trade the same pairs for several months to not miss out on the profit opportunities arising from those pairs. Users can diversify their positions by trading more than one pair.
What if I cannot execute a trade recommended by the signals?
It is important to be available to execute the signaled trades. If a trade cannot be executed, it is recommended that the user does not execute the trade at a later time. It is better to miss a trade than to make a trade at the wrong time.
Am I able to close a trade if I am making a profit?
While the user can close a trade at any time, it is recommended that they trade at the closing time indicated by the signal. Closing a position early might lead the user to miss out on greater profit opportunities that occur after the position has been closed.
What is the difference between OmniForex Signals and robot trader systems?
Most robot trader systems make trades and trading recommendations based on simple and exponential averages of historic prices. OmniForex uses more sophisticated mathematics, including neural networks and genetic algorithms, and takes into account a greater number of parameters. The computation behind the OmniForex algorithms is too great to take place on a normal PC (hence the web delivery model); most robot trader systems run locally on PCs because they are less computationally intensive.