Introduction
FXSpace.org is a website that provides information about the foreign exchange (FX) market. It includes an overview of the market, its major players, and its regulatory environment. The site also offers reviews of popular FX platforms and instruments, as well as ratings for different providers.
Regulatory Bodies
There are numerous regulatory bodies that oversee the Forex industry. In the United States, the primary regulator is the National Futures Association (NFA). The NFA is a self-regulatory organization that oversees the futures and commodities markets in the US. Other major regulatory bodies include the Commodity Futures Trading Commission (CFTC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC).
These organizations are responsible for ensuring that brokers operate in a fair and transparent manner. They also set rules and regulations that brokers must adhere to in order to protect investors from fraud and manipulation. All reputable Forex brokers will be registered with one or more of these regulatory bodies.
The Different Types of Forex Platforms
There are three main types of Forex platforms: web-based, downloadable and mobile.
Web-based platforms are accessed via a web browser and don’t require any download or installation. This makes them very convenient, as they can be used on any computer with an internet connection. However, they may not be as fully featured as downloadable platforms.
Downloadable platforms have to be installed on your computer and typically offer more features and tools than web-based ones. They may not be as convenient to use if you need to access your account from multiple locations, but they can be a good choice if you want the most comprehensive trading experience.
Mobile trading platforms are designed for use on mobile devices such as smartphones and tablets. They offer a more limited range of features than other types of platform, but their convenience and portability make them popular with many traders.
The Various Instruments Traded on Forex
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.[1]
The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency’s absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: US$1 is worth X CAD, or CHF, or JPY, etc.
Most developed countries permit the trading of derivative products (such as futures and options on futures) on their exchanges. All these developed countries already have fully convertible capital accounts. Some governments of emerging markets do not allow foreign exchange derivative products on their exchanges because they have capital controls. The use of derivatives is growing in many emerging economies.[57] Countries such as South Korea, South Africa, and India have established currency futures exchanges, despite having some capital controls.
Derivatives are used as insurance to protect against events that may cause a
FXSpace Ratings
FXSpace is a website that offers detailed information and reviews of forex brokers, platforms, and instruments. The website also provides ratings for each broker, based on a number of factors.
The FXSpace ratings are based on a number of criteria, including:
– Regulation: All brokers listed on FXSpace are regulated by one or more financial authorities.
– Platforms: FXSpace rates brokers based on the quality and variety of trading platforms they offer.
– Instruments: FXSpace evaluates brokers on the number and variety of tradable instruments they offer.
– Ratings: All ratings are calculated using a proprietary algorithm that takes into account a number of factors.
Overall, FXSpace is an excellent resource for those looking for detailed information and reviews of forex brokers, platforms, and instruments. The website’s ratings provide a useful starting point for evaluating different brokers.
Pros and Cons
When it comes to online trading, there are a lot of things to consider. One of the most important is finding a broker that is regulated by a reputable authority. FXSpace is one such broker, being regulated by the Cyprus Securities and Exchange Commission (CySEC).
While this regulation does provide some level of protection for your funds, it’s worth noting that CySEC-regulated brokers are not required to segregate client funds from company funds. This means that if FXSpace were to go bankrupt, your funds could be at risk.
Another thing to consider is the trading platform. FXSpace uses the popular MetaTrader 4 (MT4) platform. This platform is very user-friendly and has a lot of features that experienced traders will find useful. However, it’s also worth noting that MT4 is not available on mobile devices.
When it comes to instruments, FXSpace offers a good selection including forex pairs, CFDs on indices and commodities, and even cryptocurrencies. The spreads on forex pairs are competitive, starting at just 0.1 pips. However, the spreads on other instruments are much higher. For example, the spread on gold starts at 1 pip.
Finally, it’s worth mentioning that FXSpace does not accept clients from the United States or Japan.
All in all, FXSpace is a decent broker with some good and some bad points. It’s regulated by CySEC which provides some protection for your funds, but
Conclusion
Overall, we found FXSpace.org to be a reliable and informative resource for forex traders of all levels of experience. The site offers a variety of useful features, including detailed information on forex regulation, a comprehensive list of forex brokers and platforms, as well as ratings and reviews from other users. Whether you’re just starting out in the forex market or you’re an experienced trader looking for new broker, FXSpace.org is definitely worth checking out.