Pipruit: Commander, I have an assumption, but I’m not sure if it’s correct… I just continuously return to the numbers that you’ve said to me about daily turnover and the share of spot market. But you also have talked about futures, swaps and other stuff that I don’t remember currently. It seems that the FOREX market is tremendously attractive as different members come there to trade in different ways… Commander in Pips: Your quick eye is worthy of a compliment, son. You are absolutely right. Pipruit: So, can you give me, some definition of different ways to trade FOREX, at least briefly? Commander in Pips: Sure, why not: SPOT MARKET We already know something about the spot market. The spot part of the market is the most simple in our sense of understanding. Currencies are traded immediately, that’s why it is called “Spot”. The attractiveness of the spot market lies in its liquidity, simplicity, tight spreads and running around the clock. You can easily participate in this part of FOREX, because retail brokers offer to open spot trading accounts, some for as little as $5-25 in assets! Pipruit: Cool! Can you wait a couple of hours – I’ll just run to nearest broker and open an account! I want so much to try out all this stuff. Commander in Pips: Stop right there son and don’t move! Have you accomplished our school already, or maybe you already know all lions on the path better than me? If you just want to give all your money to someone else – that’s ok, go ahead (you can give it all to me, for example, ha ha). But if you don’t, then listen carefully and hang on. We will talk in detail about opening trading accounts and funding them in latter lessons. Pipruit: Sorry… Commander in Pips: …So. Besides the low-volume spot account brokers usually provide their customers with charts, technical analysis tools and news. That being said, trading on the spot FOREX market represents a “direct exchange” between two currencies that has the shortest time frame.