Free real time foreign exchange quotes can be defined as forex trading quotes which are generated for the provision of information on the daily and most recent activities that takes place in the forex market. They are known to be free, no cost attached, provides better spreads which are as small as one pip, and offer more product to its user (forex trader).
Free real time forex quotes are stated as the actual price of a security at that particular point in time. Every price of any security or currency which is exhibited on various forms of websites and FX charts are known as forex real time quotes. Most foreign exchange quotes have a 12 to 15 minutes delay before the information is analyzed but real time forex quotes are prompt, rapid and immediate.
WHY FX TRADERS TRADE WITH FREE REAL TIME FOREX QUOTES
The use of free real time quotes by traders helps the engage on a real time trading which is a system of trading where a trader bets on the motion in the exchange rates of foreign currency pairs. This real time quotes aid a foreign exchange trader to place an order to buy and sell a particular currency pair at the present exchange rate.
CONSTITUENTS OF A REAL TIME FOREX QUOTE
The basic constituents of a currency or security quote is the bid and ask price. The bid and ask price of a currency or security are said to be a two directional price quotation that denotes the best price at which a security can either be bought or sold at a given point in time. The bid price is the maximum price at which a buyer will have to pay for a given security while the ask price is the minimum price at which a seller will receive for the security.A spread is the difference between the bid and the asked price of a market currency quotes where the ask price is a buy order and the sell order being the bid price.
ADVANTAGES OF FREE REAL TIME FOREX QUOTES
Based on the fact that these real time FX quotes are free, they are mostly used online and generate market analysis based on technical and fundamental indicators that predicts and estimate the movement of various currency pairs being traded. These real time quotes have the ability to impact traders with the capacity to execute spreads at a fast rate which have the benefit of buying and selling currencies at a cut loss and maximize profit.
In conclusion, free real time forex quotes are great trading tools that lift a trader up to success. It facilitates currency and trading as a whole. It equips its users with the ease and joy of trading.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.