The ISO 4217 currency code for the Cypriot pound. The Cypriot pound (CYP), also known as the lira, was the national currency for the country of Cyprus until 2008, when the republic adopted the euro (EUR). The symbol for the pound is £C. As of January 2008, the Cypriot pound had a permanent fixed conversion rate to the euro. |||The CYP was issued by the Central Bank of Cyprus, which was formally succeeded by the European Central Bank in 2008 in conjunction with the country's choice to adopt the euro as its national currency. The currency market, also known as the foreign exchange market, is the largest financial market in the world.
The ISO 4217 currency code for the Cape Verde escudo, the official national currency of Cape Verde. The Cape Verde Escudo (CVE) subunit is called the centavo. The dollar symbol ($) is used in lieu of a decimal point, so 20 escudo would be written 20$00. The Banco de Cabo Verde issues the country's currency. It mints coins in 1, 5, 10, 20, 50 and 100 denominations and prints banknotes in 100, 200, 500, 1,000, 2,000, 2,500 and 5,000 denominations. |||Cape Verde is a former Portuguese colony and the Cape Verde escudo replaced the former national currency, the Cape Verde real, which was equivalent to the Portuguese real. Portugal has since become a member of the European Union and adopted the euro as its currency. Today the Cape Verde escudo is pegged to the euro. The currency market, also known as the foreign exchange market, is the largest financial market in the world.
A generally accepted form of money, including coins and paper notes, which is issued by a government and circulated within an economy. Used as a medium of exchange for goods and services, currency is the basis for trade. |||Generally speaking, each country has its own currency. For example, Switzerland's official currency is the Swiss franc, and Japan's official currency is the yen. An exception would be the euro, which is used as the currency for several European countries. Investors often trade currency on the foreign exchange market, which is one of the most heavily traded markets in the world.
Trading software to help the currency trader with forex trading analysis and the execution of trades. Currency trading software provides charts and order-taking methods, which are usually free of charge when a trading account is opened with a forex broker. As with trading software used for trading other securities like stocks or futures, most platforms differ greatly in functionality. |||It is hard to determine which software is best because the currency trading software from each retail forex broker is so different. As such, the answer is very personal. Most forex brokers allow you to open a demo account prior to funding a full account or mini account. Be sure to try out each broker's software during the trial periods to help you better decide which forex trading software best suits your needs.
A type of trading software used to help currency traders with forex trading analysis and trade execution. Currency trading platforms provide charts and order-taking methods. As with trading platforms used for trading other securities like stocks or futures, most can differ greatly and can vary in cost. |||There are many currency trading platforms in the marketplace, but some things to look for include fee structure, functionality, product quality and included products such as charts etc. Most forex brokers allow you to open a demo account prior to funding a full account or mini account. Be sure to try out each broker's software during their trial periods to help you better decide which forex trading platform is the best for you.
In the forex market, a particular point in time specified by a forex dealer to stand as the end of the current trading day and the beginning of a new trading day. This is done for primarily administrative and logistical reasons, because although the forex market trades 24 hours a day, the market and its intermediaries require a specified beginning and end to each trading day in order to record trade dates and define settlement periods. |||For example, let's say a forex dealer specified that the daily cut-off was 5pm every day, and a trader placed two forex trades on the evening of January 1 - one at 4:50pm and another at 5:15pm. Since the daily cut-off is 5pm, the first trade would be booked as taking place on January 1, while the second would be recorded as a January 2 trade, since it took place after the daily cut-off.
The intraday volatility of an exchange rate (or price of a good or service), that changes due to imbalances in supply and demand. Price levels of various goods or services can change very quickly depending on the current market condition. |||Low levels of dayrate volatility illustrate that the market is complacent, and the existing price is not a major concern for the transacting parties. On the other hand, a rise in dayrate volatility can be used to signal fear, or a lack of supply. This degree of volatility generally results in large price fluctuations, which suggests that the market is in a state of panic because there may be a larger group of sellers than there are buyers.
The maximum gain or loss on a derivative contract, such as options and futures contracts, that is allowed in any one trading session. The limits are imposed by the exchanges in order to protect against extreme volatility or manipulation within the markets. |||When daily trading limits have been reached, it is said to be a "locked market", and trading will halt for any trades that break the threshold or trading will close for that particular security.Daily trading limits can also be in place for currency trading, such as China's daily trading limit of 0.5% for the Chinese renminbi against the U.S. dollar. When a particular commodity or contract has reached the daily trading limit, it may be considered "limit up" or "limit down", depending on the direction of the day's move. Trading limits are much more important for derivatives than for stocks or bonds, for example, because so many investors use massive amounts of leverage to trade commodities, currencies and futures contracts.