All About Forex Currency Converters

A currency converter is a very handy tool not only for Forex world but as well as daily life. When you travel, order goods over internet it's necessary to find current value of foreign currency. Many of these currency converters can be found on the internet but most of them are delivered only with advertisement of the company, like broker house or travel agency who, provide this kind of tool.

What are the types of currency converters?

There are many types of currency converters online. The types different by their intended purposes and the information they give. Choosing the right converter depends on what you really need from it. Below are some of the useful converters that you have to choose from.

  • The short list converter: This converter is used for conversions of the most-used contexts in the world. Note that there are over 100 treaties in use worldwide. In the short list converter, only the major departments are reflected, so this converter is best for international traders since all treaties are not frequently traded.
  • The second converter is the long form currency converter: This converter is just like the latter except that it has up to 50, maybe more, treaties allowing for less popular currencies to be converted as well. This converter is a bit cumbersome and unnecessarily costlessly unless you have to deal with a large collection of different treaties.
  • The cross rates currency converter: This type of converter is the easiest and fastest to use. The converter has treaties matched against each other and their rates as well. It also allows setting a base rate where one can set a particular currency, take for example the Dollar and then the other currencies are all compared to it. The limit is that it only displays the major currencies. Other websites offer as many as 20 treaties.

How converters work .

Currency converters gather information over the internet. Some are in the form of software that can be downloaded and installed onto computer; therefore, they need an internet connection in order to give accurate information since currency values ​​constantly fluctuate against each other. To save himself or herself from the hassle of downloading and installing this software, the trader can simply use the pre-installed currency converters on websites like the ones from the Forex website which provide reliable exchange rates.

For website owners and bloggers, having currency converter services on your pages is a good idea, especially if your site is a financial website. There are many websites offering converters at different prices, but. Forex offers these tools for free. Forex offers many Forex resources such as displaying the current foreign exchange rates, various Forex charts, swap history, economic calendar, pip value calculator, currency converter and margin calculator which can be installed on anyone's website all at no cost.


XE Currency Rates

Foreign exchange is an over-the-counter market, meaning that OTC stocks are not traded on the stock exchange, and they therefore have no reporting requirements. In simple terms, OTC contracts are nothing more than two parties agreeing on how a trade will be settled. Forex, the foreign exchange market, is one such OTC contract, in which brokers deal directly with each other. For both Forex traders, as well as international businesses and travelers, currency conversion is extremely important. The XE Currency Converter is one of the most popular online currency tools, with a reputation built on the accurate currency exchange information it provides.

The name XE is actually a short form of the original name of the company, Xenon Laboratories. Founded in 1993, this company has remained focused its mission, that of currency conversion. It is for this reason that their website remains large clutter-free, with a noticeable lack of advertisements and gimmicks. The converter is simple to use, and XE currency rates give reliable conversion for more than 180 world-wide currencies. Obolete treaties are marked with an asterisk. For more currency information, the full XE Universal Currency Converter can access any currency in the world. An additional feature is that the converter has access to historical data as well. For Forex traders, this is an opportunity to see past trends and performance of various world currency, which can be important for making the buy or sell decisions. One of the best features is that access to the XE currency rates is free.

The XE currency rates appear on their website with the top 10 treaties listed first, followed by the top 85 treaties listed next. Precious metals and special conventions are listed at the end. Currency rates change several times a day, and XE gives up-to-the minute exchange rates as easily as typing in the values ​​of the currency to be converted. Additional tools such as a travel expense calculator and currency charts makes the XE Currency Converter a complete resource for traders, businesses, and travelers alike.

Forex traders are professionals in the market, but currency exchange is an important part of travel and international business as well. The XE Currency Converter is one of the most popular and most reliable online converters available today, and anyone who deals in currency conversion can be sure that the XE currency rates are accurate and up-to-date with every conversion that is made. The XE Currency Converter is easy to use, and best of all, it is free.


The Popularity of the Yahoo and XE Currency Converters

Currency Converter Essential for Day Traders
For forex day traders a currency converter is an absolute necessity. The currency, or forex, market is the worlds largest and also the most volatile. Currency exchange rates can, and do, change several times daily. Most day traders use an online currency converter and many of these are regularly updated in real time. There are also some online applications that provide service to mobile devices such as cell phones and palm pilots.

A Wide Variety of Online Currency Converters Available
A quick Google search using the term yields 21,100,000 possible websites devoted to currency conversion. Two of the most popular and most used online applications are the Yahoo and the XE-Universal Converter.

XE Currency Converter Popular
The XE is the more sophisticated of the two and provides much more than a basic application. Users of the XE converter can access historical tables of all the major budgets and see past performances and trends of the various world treaties. The XE converter is updated non-stop all day and is available in many languages. Users have access to rates for every currency in existence and best of all use is free.

Available XE Tools
The XE converter offers many tools for users. XE offers an expanded version of the Universal application, updates, travel expenses calculator, currency charts. Currency news, currency rate monitor, and many more useful tools for both the investor and traveler. It is easy to see why the XE converter is popular.

The Yahoo Currency Converter
The Yahoo converter is more basic and is also updated in real time. For those planning a trip abroad the Yahoo converter provides downloadable pocket guides with . Like the XE converter the Yahoo converter is free and very user friendly.

These two online converters are easily the most popular and used applications. While there are many other online applications available with varying degrees of sophistication these converters are sure to remain popular in years to come.


More About Mobile Currency Converters

Mobile Technology and Internet Access

There are several companies that provide currency converters for mobile devices. The use of cell phones has become endemic in areas with mobile service. Smart phones and Blackberries allow the user to access the internet and perform almost any action. Most of the world has been quick to adopt mobile technology and mobile devices have changed the way people communicate and do business.

WorldMate Live Currency Converter For Blackberry

Mobile applications allow the user to calculate transactions in most treaties. For Blackberry users WorldMatelive offers a free application. The WorldMateLive can be accessed at App World and takes about 10 minutes to download. After the download WorldMate Live takes about 3 minutes to install. The application has the capability to calculate transactions in 160 world contexts. WorldMate Live also provides global weather reports, comparison charts for clothing sizes, and an itinerary organizer.

WorldMate Live for Other Phones

In addition to the Blackberry application WorldMate Live also provides a similar one for the following phones; Samsung Blackjack, Motorola Q, or a PDA with windows mobile software. The application is free and can be accessed at and takes about 10 minutes to download.

The aCurrency Converter

For those with a T Mobile phone the aCurrency application is available for download from the Android Market. This currency converter covers 160 circles. Every time the currency converter is opened it automatically updates the latest currency exchange rates.

The ACT Currency Converter

For iPhone users the ACT Currency global currency converter is available from the iTunes App Store. This currency converter covers 190 treaties and is updated by hitting the refresh button. The application costs $ 1 which is exceptionally inexpensive.

While these applications are designed with the tourist in mind they could easily be of use to currency traders who need to check often through the day and may not have immediate access to a computer.


Using A Money Converter Calculator To Find The Latest Exchange Rates

This article is aimed at converting pounds to dollars with a money converter online as the title implies. However, it may pay to know that there are only a handful of other ways for which to check an exchange rate. That is, you could walk into your local bank and ask them, call them via phone, or ask an insider what you are close to.

That is why many use an online money converter because the problem with these other options are that they take more time to accomplish. To better understand that statement, assuming you want to convert pounds to dollars and you prefer to walk into your local bank to ask the service desk, imagine how much time and effort it will take just to get the figure. What about asking someone you know who works in the bank, he could tell you the answer right there and then but chances are it has changed dramatically due to the volatility of the foreign exchange market. The same goes with picking up the phone to speak with someone else.

That being said, using a dedicated online money converter to check today's exchange rates is by far the easiest and the most accurate way to do this task. An example of such restricted site is MSN Money Converter, Yahoo Money Converter, Google Currency Converter, and XE Money Converter – just to name a few. Now, taking our pounds to dollars conversion again, the first thing you need to do is find the websites and decide which one best suits you. Or you may try each and see which interface you prefer to use if you intend to carry out more of the conversion.

Let's assume you have chosen to use Google Currency Converter. If you do not know where to find it, type "Google Currency Converter" into your preferred search engine and the top result should be it. Click on it to open the converter and get ready for your pounds to dollars conversion.

Now, key in the pounds amount you want to convert, then choose pounds from the options as that from which you want to convert from and dollars as that to which you want to convert to. Once you click Convert, you should see the new "pounds to dollars" amount straight away. Google money converter is not as flash as you'd expect so you may want to try MSN or XE converters or search around for some others. There are many other options online and some will load faster on your computer than others, so bookmark the one you prefer the most and use it regular.


XE Currency Converter – Currency Exchange Rate Calculator

Currency Converter – Currency Exchange Rate Calculator
Calculate live currency and foreign exchange rates with this free currency converter. You can convert currencies and precious metals with this currency

IB - Currency Conversion Buy/Sell

How to Create a Simple Basic Currency Converter in PHP

How to Create a Simple Basic Currency Converter in PHP ?

Let’s assume, we want to create a simple Currency Converter in PHP and without using MySql. So yes smile emoticon it is possible, you just need a basic knowledge of PHP to create it by yourself. So in this tutorial I have created a basic program of Currency Converter with the help of PHP.

Created By : Muhammed Hussain Hingora | Web Soft Programs

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How to build your own currency conversion app in less than 75 lines of code.

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