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Forex FAQs
Why do the rates differ when I compare the City Credit platform to other platforms?
Any price feed into a trading platform is dependant upon bank sources. Each online broker uses a different set of price providers (market counter parties) that result in each broker having slightly different spreads.
Are there any hidden charges trading Foreign Exchange?
There are no hidden charges when trading FX.
Where does the price feed come from?
It's supplied directly to City Credit by major banks and other financial institutions that may act as market counter parties in transactions.
How do banks derive their prices?
As with all economic situations price is derived by supply and demand.
How large is the foreign exchange market?
It is the largest, singular financial market in the world, averaging 40 times the average Dow Jones transaction volumes. It is important to note that the FX market does not operate with a centralized exchange but is an Interbank market that operates on a global basis.
What are the main advantages trading the foreign exchange markets?
- Low barriers to entry
- Direct access to the market with flexible gearing opportunities
- Tight spread
- Low to zero commission
- 24-hour trading
- Unlimited trading opportunities
