However, there are thousands of foreign exchange brokers in the world, but not all foreign exchange brokers are formal platforms. You must be cautious when looking for investments to avoid being deceived by entering black platforms.
Here we can find regular external brokers for domestic investors, and then regular international brokers can enter the broker's official website and fill in the information required to open an account as required, upload the information and open an account.
Foreign exchange is the balance of payments deficit held by monetary administrations (central banks, monetary management agencies, foreign exchange stabilization funds and the Ministry of Finance) in the form of bank deposits, Treasury bills, long-term and short-term government securities, etc. claims that can be used at any time.
Including foreign currency, foreign currency deposits, foreign currency securities (government bonds, treasury bills, corporate bonds, stocks, etc.), foreign currency payment certificates (bills, bank deposit certificates, postal savings certificates, etc.).
According to the degree of restriction: it is divided into freely convertible foreign exchange, limited freely convertible foreign exchange and accounting foreign exchange
Freely convertible foreign exchange is the most commonly used in international settlements and in the international financial market. Foreign exchange that can be bought and sold freely, can be used to pay off claims and debts in international finance, and can be freely exchanged for the currencies of other countries. For example, US dollars, Hong Kong dollars, Canadian dollars, etc.
Limited freely convertible foreign exchange refers to foreign exchange that cannot be freely converted into other currencies or paid to a third country without the approval of the currency issuing country. The International Monetary Fund stipulates that any currency that has certain restrictions on current international payments and fund transfers is a limited convertible currency. More than half of the world's national currencies are limited convertible currencies, including the RMB.
Accounted foreign exchange, also known as cleared foreign exchange or bilateral foreign exchange, refers to the foreign exchange recorded in the bank accounts designated by both parties. It cannot be converted into other currencies and cannot be paid to a third country.
According to source and use: divided into trade foreign exchange, non-trade foreign exchange and financial foreign exchange
Trade foreign exchange, also known as physical trade foreign exchange, refers to foreign exchange derived from or used for import and export trade. , that is, an international payment method formed due to the international circulation of commodities.
Non-trade foreign exchange refers to all foreign exchange other than trade foreign exchange, that is, all foreign exchange that does not originate from or be used for import and export trade, such as labor foreign exchange, overseas remittances, donated foreign exchange, etc.
Financial foreign exchange is different from trade foreign exchange and non-trade foreign exchange. It is a kind of financial asset foreign exchange. For example, foreign exchange bought and sold among banks does not originate from tangible trade or intangible trade, nor is it used for tangible trade. , but for the management and manipulation of various currency positions.
According to market trends: it is divided into hard foreign exchange and soft foreign exchange, or strong currency and weak currency.