金融學院
外匯教育
外匯市場也被稱為 “Fx 市場”、“貨幣市場”、“外匯貨幣市場”,它是全球交易量規模最大,流動性最強的金融市場,每天約 5 兆美元交換價值的貨幣。外匯市場每週 5 天,每天 24 小時開放交易,最重要的世界交易中心位於倫敦、紐約、東京、蘇黎世、法蘭克福、香港、新加坡、巴黎和悉尼。它為交易者提供了許多好處 - 包括方便的市場時間,高流動性與保證金交易。
從法律上講,差價合約是外匯經紀商向其客戶提供股票和商品以及交易指數的最有效方式。簡單來說,這只是一份合約,如果交易以您想要的方向結束,經紀人會向您付款,如果相反的情況發生,您需要向經紀人付款。
投資因素:
- 世界上最大,最具流動性的市場
- 每週五天,24 小時皆可交易
- 集中,透明度高的交易市場
- 交易門檻低,最大金融市場人為干預不易
- 無固定口數和低交易成本
- 多元化的交易貨幣對
- 多空皆可,靈活操作
- 利用槓桿來提高交易最大化的潛在利潤,降低成本
- 允許客戶通過各種交易平台在線上交易外匯
在外匯交易市場,貨幣成對交易。貨幣對的兩個組成幣種相互關聯、不可分割,貨幣對的兩個組成幣種在交易中互相兌換,一種貨幣的價值相對於另一種貨幣報價。例如歐元對美元為 EUR/USD,稱為貨幣對。報價 EUR / USD = 1.1500 意味著 1 歐元兌換 1.1500 美元。在這種情況下,EUR 是基礎貨幣,USD 是報價貨幣(計數貨幣)。這代表 1 歐元可兌換 1.15 美元;或是購買 100 歐元需要 115 美元。
主要貨幣對:
- EUR/USD (Euro-zone/ United States)
- USD/JPY (United States/ Japan)
- GBP/USD (United Kingdom/ United States)
- USD/CHF (United States/ Switzerland)
- USD/CAD (United States/ Canada)
- AUD/USD (Australia/ United States)
- NZD/USD (New Zealand/ United States)
現貨外匯僅以特定金額進行交易,稱為口數,或基本上是您將買入或賣出的貨幣單位數量。例如,1 口 EUR/USD 等於 100,000 美元。目前所有外匯經紀商都允許客戶交易數量最小至 0.01 口(1 微型口數,相當於 1,000 美元),以及提供槓桿操作,這意味著您無需存入 100,000 美元,只要 1,000 美元即可進行交易。
交易平台上為每個貨幣對報出的兩種不同價格,是該貨幣對可用的買入價和賣出價(或賣出價和買入價),這兩種價格之間的差價稱為價差。買入價 (Bid) 是左邊的價格,這是您可以賣出給定貨幣對的價格,是所列出的兩個價格中的較低者。賣出價 (Ask) 是右邊的價格,它是您可以購買給定貨幣對的價格,是所列出的兩個價格中的較高者。
已知點數百分比是交易市場中最小的數字價格走勢。它通常是報價的最後一個小數位。由於大多數貨幣對的價格為 4 位小數($ 0.0001),因此最小的變化將是小數點後的最後一位數。
點差是買入價和賣出價之間的差額。如果 USD/CAD 外匯報價提到 1.0180 / 83,則差價為 0.0003,通常表示為 “3點”。
槓桿率定義為交易中使用的資本金額與所需保證金的比率。換句話說,槓桿使您能夠運用較小的存款(您的保證金)卻能在交易控制更多的金額。例如,為了控制 100,000 美元的頭寸,經紀人帳戶中維持 1,000 美元,此槓桿率比率為 100:1。
保證金被視為維持未平倉頭寸所需的存款。這不是費用或交易成本,它只是帳戶資產的一部分作為預留投資的保證金存款。
止損是指外匯經紀商在達到某一最大損失時立即自動平倉退出交易的訂單。獲利訂單是當訂單達到預期的獲利價格鎖住盈利收益。當預計獲利可達到某個設定的價位,可在未平倉的訂單上設定獲利訂單,當實際價格來到您設定的獲利價位時就變成市價單來完成平倉,鎖定收益。
外匯條款和定義
這些術語是為了幫助理解交易術語的重要性而準備的。只需按一下字母標籤,它就會快速進入字母表中的相關位置,以找到需要查找的單詞或術語。
Also known as the offer, it's the price a seller is willing to sell at.
The currency used as the base to quote a pair. For instance in the EURUSD pair, the EUR is the base currency, in the USDJPY, the USD is the base.
Someone who believes the prices/market will decline.
A market in which prices decline sharply against a background of widespread pessimism (opposite of Bull Market).
The price at which a trader will buy a currency.
See 'Spread'
An agent who handles investors' orders to buy and sell currency.
A market characterised by rising prices.
Dealers slang for the Sterling/US Dollar exchange rate.
The overnight interbank interest rate.
The market for the purchase and sale of physical currencies.
The institution that manages a country's monetary policy.
The customer or bank with whom a deal is made. The term is also used in interest and currency swaps markets to refer to a participant in a swap exchange.
Trading unit. A standard lot in the forex market is $100,000. A mini lot is $10,000.
Agreement between a client and a provider to exchange the difference between the opening and the closing value of the contract.
An exchange rate between two currencies, usually constructed from the individual exchange rates of the two currencies, measured against the United States dollar.
Option contract which gives the right to buy or sell a currency with another currency at a specified exchange rate during a specified period.
Agreement between two parties to exchange principal and fixed rate interest payments on a loan in one currency for principal and fixed rate interest payments on an equal loan in another currency.
Refers to opening and closing the same position or positions within one day.
Describes an excess of liabilities over assets, of losses over profits, or of expenditure over income.
A decrease in the general price level of goods and services, whereby the inflation rate falls below zero percent, resulting in an increase in the real value of money.
Decline in the value of an asset, currency, or security.
Electronic Funds Transfer.
The Central Bank of the United States.
Exchange rate regime in which a currency is pegged by the Central Bank so that it cannot fluctuate against other currencies. Currencies can be pegged to other currencies or commodities, such as gold.
To be neither long nor short is the same as to be flat or square. One would have a flat book if he has no positions or if all the positions cancel each other out.
As opposed to a fixed rate, the interest rate on this type of deal will fluctuate with market rates or benchmark rates.
Transaction which involves the actual exchange of two currencies (principal amount only) on a specific date at a rate agreed at the time of the conclusion of the contract and again at a date further in the future at a rate agreed at the time of the contract.
A forward is an agreement with us to exchange one currency for another on an agreed date in the future, at an agreed exchange rate.
Analysis of economic and political data with the goal of determining future movements in a financial market.
"Good Till Cancelled". An order left with a Dealer to buy or sell at a fixed price. The order remains in place until it is cancelled by the client.
The practice of undertaking one investment activity in order to protect against loss in another, e.g. selling short to nullify a previous purchase, or buying long to offset a previous short sale. While hedges reduce potential losses, they also tend to reduce potential profits.
Usually the highest traded price and the lowest traded price for the underlying instrument for the current trading day.
The required initial deposit of collateral to enter into a position as a guarantee of future performance.
The foreign exchange rates at which large international banks quote other large international banks.
Cost of using/borrowing money, expressed as a rate per period of time.
The ability to borrow money to fund trading/investing activity. The amount that can be borrowed varies between brokers, and is quoted as a multiple of maximum position size to deposited funds.
An order to buy at or below a specified price or to sell at or above a specified price.
A market position where the client has bought a currency he/she previously did not hold/ own.
Standardized quantity in forex, composed of 100,000 units of a particular currency pair.
The amount a customer must deposit as collateral to cover any potential losses from adverse movements in prices.
A demand for additional funds. A requirement by a clearing house that a clearing member brings margin deposits up to a required minimum level to cover an adverse movement in price in the market.
Refers to any dealer who provides a two-way quote a bid and ask price in which they stand ready to buy or sell.
Date (or number of years) on which payment of a financial obligation is due.
The price, or rate, that a willing seller is prepared to sell at.
A contingent order where the execution of one part of the order automatically cancels the other part.
Used to describe any transaction that is not conducted over an exchange.
The term used in currency market to represent the smallest incremental move an exchange rate can make.
A price level at which you would expect selling to take place.
Where the settlement of a deal is rolled forward to another value date.
For spot foreign exchange trades it is the actual physical exchange of one currency for another.
To go 'short' is to have sold an instrument without actually owning it, and to hold a short position with expectations that the price will decline so it can be bought back in the future at a profit.
Refers to the phenomenon whereby the actual fill price differs from the expected fill price, as a result of a fast-moving market or broker error.
A transaction that occurs immediately, but for foreign exchange transactions the funds will usually change hands within two days after deal is struck.
The difference between the bid and offer (ask) prices; used to measure market liquidity. Narrower spreads usually signify high liquidity.
Spread betting is a type of speculation that involves betting on the price movement of a currency pair without actually purchasing or selling lots.
An order to buy or sell at the market when a particular price is reached.
The price at which a stop order is triggered. For purchases, the stop price acts as a minimum price you will pay if an investment is made. For sales, the stop price acts as the maximum price you will receive if a holding is sold.
A price level at which you would expect buying to take place.
Type of derivative in which two parties agree to exchange one stream of cash flows against another.
An order placed to close a position so as to lock profits once it hits a specific price.
An order specifying the exact rate or number of pips from the current price point at which point a current position should be closed, and gains will be locked in.
An effort to forecast future market activity by analyzing market data such as charts, price trends, and volume.
Both a bid and offer are quoted.
The amount of a specific financial instrument which has exchanged hands during a trading day.
International financial institution that provides leveraged loans to poorer countries for capital programs with a goal of reducing poverty.