WELCOME TO GOLDBERG FOREX GROUP
Currency Exchange also referred to as Foreign
Exchange, FX, or Forex, is the trading of one currency against another.
The Currency Exchange Market is an inter-bank or inter-dealer market
that was established in 1971 when floating exchange rates began
to materialize. In addition, it is an Over-The-Counter market, meaning
that transactions are conducted between two counter parties that
agree to trade via the telephone or electronic network. Trading
is thus not centralized, as is the case with many stock markets
or as the case for currency futures or options, which trade on special
exchanges. Currencies are traded every day for numerous reasons.
For example:
Consumers typically come into contact with currency exchange
when they travel. They go to a bank or currency exchange bureau
to convert one currency (typically, their "home currency") into
another (i.e. the currency of the country they intend to travel
to) so they can pay for goods and services in the foreign country.
Businesses typically have to convert currencies when they
conduct business outside their home country. For example, if they
export goods to another country and receive payment in the currency
of that foreign country, then the payment must often be converted
back to the home currency. Similarly, if they have to import goods
or services, then businesses will often have to pay in a foreign
currency, requiring them to first convert their home currency into
the foreign currency.
Commercial and Investment Banks trade currencies as a service
for their commercial banking, deposit and lending customers. These
institutions also generally participate in the currency market for
hedging and proprietary trading purposes.
Governments and central banks trade currencies to improve
trading conditions or to intervene in an attempt to adjust economic
or financial imbalances. Although they do not trade for speculative
reasons, they are a non-profit organization; they often tend to
be profitable, since they generally trade on a long-term basis.
Investors and speculators require currency exchange whenever
they trade in any foreign investment, be that equities, bonds, bank
deposits, or real estate. Investors and speculators also trade currencies
directly in order to benefit from movements in the currency exchange
markets. Speculators are often day traders, trying to take advantage
of market movements in very short time periods; buying a currency
and then selling it again may happen within hours or even minutes.
They are attracted to currency trading for numerous reasons, including
(i) the size and daily volatility of the market (ii) the almost
perfect liquidity of the Foreign Exchange Market, (iii) the fact
that the Foreign Exchange Market is traded 24 hours a day.
When executing transactions for Foreign Exchange clients, Goldberg
Forex Group utilizes the services of a futures commission merchant
(FCM), the foreign exchange equivalent of a broker dealer. Both
Goldberg Forex Group and FXCM are registered with the Commodity
Futures Trading Commission (CFTC) and are members of the National
Futures Association (NFA).
The professionals at Goldberg Forex Group are available to help
all qualified investors with the various opportunities and mechanics
of trading the Foreign Exchange Market. Before opening an account,
we will verify the suitability of each client and make certain there
is a full understanding of the potential risk and rewards of trading
the Foreign Exchange Markets.
Forex speculators will be able to trade directly on-line, or for
those Individuals, who prefer to have their funds managed by professionals,
can attain the services of Goldberg Forex Group to do so.
Those clients attaining the services of Goldberg Forex Group to
trade the Forex Market will be provided with read only access to
their account, will have sole deposit/withdrawal rights, and will
be able to track account equity and total profit/loss in real time.
Goldberg Forex Group has limited power of attorney to trade the
account only and does not have deposit/withdrawal authorization.
In addition, clients can create up to the minute account statements
online, 24 hours a day.
At Goldberg Forex Group we stand ready to assist you at any time.
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