Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can I trade Forex on Tipping Monkey?

April 26, 2017forex monkey TIPPING Trade

0

10 Posted

Can I trade Forex on Tipping Monkey?

1 Answer

0

10 Posted

Yes and no. We did not originally have Forex trading planned for the Beta release. However, some members have discovered a way to get Foreign Exchange quotes from our system, and as a result, they figured out a way to speculate on the change in exchange rate between any 2 currencies. For example, you can get a quote on $CADUSD, which will give you the exchange rate between the Canadian Dollar (CAD) and the US Dollar (USD). You can then buy and sell “shares” of these exchange units and profit from changes in the exchange rates. Another example would be the $CNYUSD, which is the exchange rate between the Chinese Yuan (Renmenbi) and the US Dollar. Note that, these quotes are only updated once a day (EOD) so this is more suitable for longer term holding than people interested in FOREX daytrading.