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<h2 class="wp-block-heading">Before we read about <strong>Forex Trading in Saudi Arabia</strong>:</h2>
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<p> let’s define the word «Forex» first. Forex refers to the global foreign exchange market for foreign currencies, and it is an abbreviation of the economic term in the foreign financial market "Foreign currencies Market", meaning «Foreign Exchange Market», and it is a market that extends all over the world where foreign exchange is traded by several participants, such as global traded Banks, financial markets and individual traders.</p>
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<p>Please see below for more details about <strong>Forex trading in Saudi Arabia</strong></p>
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<h3 class="wp-block-heading">What is <strong>Forex Trading</strong>?</h3>
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<p><strong>Forex trading in Saudi Arabia </strong>or foreign exchange can be defined as a network of buyers and sellers who transfer currencies between themselves at an agreed-upon rate. This is the means by which individuals, companies, and central banks convert one currency into another - if you've ever traveled abroad, you've probably conducted a forex transaction.<strong></strong></p>
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<p>While a lot of foreign currencies are converted for practical purposes, the vast majority of currency exchanges are exchanging currencies with the target of making a profit out of it.</p>
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<p>The number of currencies that are converted daily can lead to significant volatility in the price movement of some currencies. It is this volatility that makes the forex market so attractive for traders: it brings great opportunities to make great profits, but also involves increased risk.</p>
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<p>Please see below for more details about <strong>Forex trading in Saudi Arabia</strong></p>
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<p>Choosing the best-licensed trading companies or best forex broker in Saudi Arabia has always been difficult for traders, regardless of the depth of their understanding of trading in Saudi Arabia and the mechanism of work of financial brokerage companies in the Kingdom. Therefore, the ATM website team, specializing in stock trading and trading, decided to explain the correct mechanism for choosing the best trading broker to work with. Entirely from within the Kingdom of Saudi Arabia.</p>
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<p>Before going into talking about <strong>Forex trading in Saudi Arabia </strong>or how to choose the best licensed financial broker or the best forex broker that allows trading from within the Kingdom of Saudi Arabia, let us tell you, how currency markets work.</p>
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<p>, Unlike stocks or commodities, forex trading does not take place on exchanges, but rather directly between two parties in the "over the counter" (OTC) market. The forex market is operated by a global network of banks located in four major forex trading centers in different time zones: London, New York, Sydney, and Tokyo. Since there is no central location, it is possible to trade forex 24 hours a day.</p>
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<p><strong>There are three different types of forex markets:</strong></p>
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<li>Spot forex market: is the physical exchange of a currency pair, which takes place at the exact point of settlement of the trade - i.e., immediately - or within a short period of time.</li>
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<li>Forward forex market: in which a contract is agreed to buy or sell a specific amount of currency at a specific price, to settle it on a specific date in the future or within a range of future dates</li>
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<li>Future forex market: in which a contract is agreed to buy or sell a specific amount of a specific currency at a specific price and a specific date in the future. Unlike forward contracts, futures contracts are legally binding</li>
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<li>Most traders who speculate on forex rates do not plan to take delivery of the currency itself, instead they make predictions of exchange rates in order to take advantage of price movements in the market.</li>
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<p>Scroll down for more about <strong>forex trading in Saudi Arabia</strong></p>
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<h3 class="wp-block-heading"><strong>Forex Trading for beginners</strong>:</h3>
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<p>If you want to know about <strong>Forex trading in Saudi Arabia, </strong>Knowing the vocabulary used by investors and forex brokers will not make you a successful trader, but it is necessary to know it in order to become a trader taking his first steps into this world.</p>
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<p>Here are some of the most important forex basics:</p>
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<li>Currency pairs</li>
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<li>Spread and pips.</li>
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<li>Margin</li>
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<li>Leverage</li>
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<li>Contract size/lot</li>
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<li>Trading platforms</li>
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<li>CFDs</li>
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<li>Swap</li>
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<p>To start<strong> Forex trading in Saudi Arabia </strong>let us educate you about the major and minor currency pairs and all other currency pairs present in forex trading which are generally called “exotic currency pairs” and represent less than 10% of all foreign exchange transactions.</p>
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<p>1.US dollar (USD)</p>
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<p>The US dollar, which has countless nicknames (including the greenback), is the main currency of one of the largest economies in the world. Although it is widely influenced by central bank policy announcements and interest rate policy, it is supported by economic fundamentals such as GDP.</p>
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<p>2. Euro (EUR)</p>
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<p>Also known as the “enemy of the dollar” this currency tends to be slower when compared to the pound sterling or the Australian dollar, its average movement is between 30 and 40 pips.</p>
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<p>3. British Pound (GBP)</p>
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<p>This currency is more volatile than the Euro, as it tends to trade more widely during the day, and daily fluctuations can reach between 100 – 150 pips. It is most volatile between the London and US sessions and is slowest during the Asian hours.</p>
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<p>4. Japanese Yen (JPY)</p>
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<p>This currency has low-interest rates and can sometimes be very erratic. Its daily trading range is between 30 and 40 pips, and it may go as high as 150 pips.</p>
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<p>5. Australian dollar (AUD)</p>
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<p>Thanks to government policy, the Australian dollar has fixed high-interest rates, which makes it a preferred choice for trading. This currency provides reliability and a wide range of benefits.</p>
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<p>Scroll down for more details about <strong>Forex trading in Saudi Arabia</strong></p>
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<p>Other important currencies include the Canadian dollar (CAD), the Swiss franc (CHF), and the New Zealand dollar (NZD).</p>
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<p>The aforementioned currencies have the strongest economies in the world, and as a result, forex trading options are incredibly popular because they have a high level of liquidity.</p>
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<p>While trading forex if you choose to trade major currency pairs, they will usually fall into the following forex pairs.</p>
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<p>Stay with our article to know more about <strong>Forex trading in Saudi Arabia.</strong></p>
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<h3 class="wp-block-heading"><strong>How Forex Trading works</strong>?</h3>
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<p><strong>Forex trading in Saudi Arabia </strong>works as follows:</p>
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<li>Forex trading is an activity, or even a profession, in which currency pairs are bought and sold to speculate on the rise or fall in the price of these pairs. Hence Currency trading is affected by the daily price of Oil.</li>
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<li>This activity is open to anyone with a computer and access to the Internet. Forex trading is a type of day trading on an international scale. Countries, companies, and even individuals like you operate with currencies every single day.</li>
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<li>This trade takes place through computer networks between merchants around the world. This is the main reason why the forex market or the currency market is the largest and most liquid market in the world, the most accessible, and as a result also the riskiest.<!-- wp:list -->
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<p>We still have more to tell you about <strong>Forex trading in Saudi Arabia </strong>so stay with us.</p>
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<h3 class="wp-block-heading">Is <strong>Forex Trading halal or </strong>haram?</h3>
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<p>Scholars differed on the subject of <strong>Forex trading in Saudi Arabia</strong>, some of them prohibited it as a type of usury, and some of them permitted it for the following reasons:<strong></strong></p>
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<p>1- There are no rollover fees, or what is known as a swap, which is calculated every 24 hours, in which the deal is open.</p>
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<p>2- The company's profit from the difference between the purchase and sale value.</p>
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<p>4- you deal with what is called a margin system, and the company gives you money; So that you can open deals, but do not take any commissions, nor any interest as an advance.</p>
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<p>5- All dealings are through the <a href="https://atmcapitalpro.com/">ATM website</a>; To facilitate dealing in exchange, profits and losses are updated in real-time in less than a second, and you can withdraw funds at any time you want.</p>
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<p>6- The company does not oblige you to open deals, even if you have not opened deals for 10 years, as this is entirely your decision.</p>
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<p>Hope you liked our article about <strong>Forex trading in <a href="https://en.wikipedia.org/wiki/Saudi_Arabia">Saudi Arabia</a>.</strong> For more articles <a href="https://atmcapitalpro.com/category/articles/" data-type="URL" data-id="https://atmcapitalpro.com/category/articles/">click here</a></p>
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