The魅力 of the foreign exchange market lies in its high liquidity and leverage features. In 2022, the forex market experienced intense volatility, with some currency pairs appreciating by over 30%. This kind of return far exceeds that of traditional stock markets, attracting a large number of investors. However, many beginners still lack understanding of the financial instrument known as forex margin — what exactly it is and how it can be used to amplify investment returns.
Core Logic of Forex Margin
Forex margin is essentially a leverage trading mechanism. Investors only need to commit a small amount of capital as margin to control a trading position that is several times or even hundreds of times larger. For example, trading USD/JPY with 100x leverage, a $1,000 margin can control a $100,000 position. Compared to bank currency exchange or fixed deposit services, which only earn a small spread or interest, forex margin platforms offer the flexibility of two-way trading (long and short), allowing investors to capitalize on market movements at any time.

What is the Hong Kong Stock Exchange? Why should you understand trading hours?
Investors looking to enter the Hong Kong stock market must first understand one thing: HKEX (Hong Kong Exchanges and Clearing Limited, stock code 0388.HK) is the only statutory securities exchange in Hong Kong, and it is one of the top three exchanges in Asia and among the top ten exchanges worldwide. Since its establishment, this platform has become one of the most active capital investment hubs globally, and over the past 13 years, it has topped the global IPO fundraising charts 7 times.
HKEX includes subsidiaries such as the Hong Kong Stock Exchange, Hong Kong Futures Exchange, multiple clearing houses, and the London Metal Exchange, handling various trading activities including stocks, options, futures, and precious metals. As a public company, HKEX's largest shareholder is the Hong Kong Special Administrative Region, and it is regulated by the Hong Kong Securities and Futures Commission, ensuring compliance.
Understanding HKEX's trading hours and rules is the first step in developing a trading strategy and avoiding pitfalls.
Hong Kong Stock Trading

Many investors are thinking the same question: how can I safely buy U.S. Treasury bonds? Compared to stock market volatility, U.S. government bonds are favored by conservative investors due to their stability. Today, we will start from a practical perspective and teach you step-by-step how to buy U.S. bonds in Taiwan and how to evaluate investment returns.
How can Taiwanese investors get the most value when buying U.S. bonds?
In Taiwan, there are three main channels to purchase U.S. government bonds, each with its advantages and disadvantages.
Channel 1: Purchase directly from the secondary market
Buy issued bonds through overseas brokers or domestic brokers via entrusted trading. Overseas brokers have obvious advantages—more diverse products, faster quote updates, and lower transaction fees.
Purchase process:
- Open an international securities account
- Search for bond codes and filter by maturity, yield, and other criteria
- Place an order at market price or limit price (pay attention to bid-ask spread and commissions)
- After the bond is credited, receive periodic interest payments and can sell on the secondary market at any time

Why are traders all using Fibonacci?
Among the technical analysis tools in the foreign exchange market, Fibonacci indicators are considered classics. This method originates from a magical sequence—the Fibonacci sequence—where each number is the sum of the two preceding ones. This seemingly simple pattern appears frequently in nature and financial markets, helping traders predict turning points in asset prices.
The key lies in the ratio relationships embedded in this sequence. When we divide a number in the sequence by the previous number, we get approximately 1.618. This is the legendary Golden Ratio—a mysterious proportion believed to describe the balance of all things in the universe. In the 13th century, Italian mathematician Leonardo Pisano (nicknamed Fibonacci) introduced this ratio to the West, and it has since become one of the most revered technical analysis tools in financial markets.
Fibonacci sequence mathematical codes: 1.618, 0.618, 0.38

This article introduces the basic structure, calculation method, and application of the KD stochastic oscillator indicator. The KD line consists of the fast line K and the slow line D, which can signal buy or sell opportunities through crossover signals and divergence phenomena. Although the KD line can identify overbought and oversold risks, its limitations such as lagging and frequent signals should also be noted. Ultimately, it emphasizes that the KD line should be used in conjunction with other indicators to strengthen trading decisions.

November 20th, the crypto market declined sharply again, with Bitcoin and Ethereum hitting seven-month and four-month lows respectively. Analysts believe that the crypto market has entered a bear market due to uncertainty in U.S. interest rate policies and rising risks in the AI sector. Forecasts indicate that the market may further adjust, while the options market shows concerns about downside risks. In the short term, Bitcoin and Ethereum need to hold key support levels, while the long-term outlook depends on macro policy changes.

The artificial intelligence sector experienced notable turbulence Wednesday following Oracle's disappointing quarterly guidance and announcement of substantially elevated capital expenditures, triggering a ripple effect across hardware suppliers and infrastructure providers.
Oracle's Cost

Recently, EUR/USD has fallen to 1.1504 due to complex signals from US economic data and divergent views among Federal Reserve officials. The US services sector is expanding, but manufacturing is slowing, and consumer confidence remains subdued. Internal divisions within the Federal Reserve are increasing, leading to rising market expectations for rate cuts. Meanwhile, the European Central Bank has signaled stability, but manufacturing remains cautious. The technical outlook for EUR/USD indicates that the downtrend remains intact, with a key support level at 1.1491.

Why has carry trade suddenly become popular?
Since the Federal Reserve began an aggressive rate hike cycle in 2022, the global capital markets have been swept by a "carry trade" wave. However, many people still have a vague understanding of this concept—some see it as arbitrage, others as pure interest income. In reality, carry trade is much more complex and riskier than these ideas suggest.
The essence of this trend is simple: when there are significant differences in interest rate policies among countries' central banks, smart capital starts to look for opportunities. They borrow in low-interest-rate currencies, invest in high-interest-rate currencies or assets, and profit from the interest rate differential. But the problem is, not all rate hikes lead to currency appreciation; they can also trigger black swan events.
The essence of carry trade: using interest rate differentials in financial transactions
Carry trade (利差交易) is actually quite straightforward: it involves exploiting the interest rate differences between different financial products or currencies of various countries to earn arbitrage profits. The most common form is

As Taiwanese investors, entering the US stock market may seem simple, but it is actually full of cost traps. Many people end up paying unnecessary fees because they do not understand the fee structure of various investment channels. This article will thoroughly reveal the hidden costs of sub-brokerage and overseas brokers, helping you choose the most cost-effective path based on your trading habits.
Two ways for Taiwanese investors to buy US stocks: Sub-Brokerage vs Overseas Brokers
If you want to buy US stocks in Taiwan, there are basically two options.
Sub-Brokerage: Domestic broker agency model
Sub-Brokerage (Sub-Brokerage) officially known as "Foreign Securities Trading Business by Trust". Simply put, you open a special account with a domestic broker, which acts as an intermediary to buy stocks for you in overseas markets. Because the order goes through two layers (you → domestic broker → overseas market), it is called "Sub-Brokerage".
The advantage of this method is: the account opening process is simple, and funds are directly deducted in New Taiwan Dollars, eliminating the need to exchange currency yourself, and it is compliant with Taiwan

The NT dollar against the Japanese Yen has reached the 4.85 level (December 10, 2025), and tourism demand and investment allocation are heating up again. Many people want to exchange for Yen but don't know which channel to choose. Traditional bank counter services, online currency exchange, and foreign currency ATMs each have their pros and cons. A difference of just one method could mean a cost difference of several thousand yuan. This article breaks down all currency exchange options with real data to help you find the most suitable solution.
Why is the Japanese Yen worth paying attention to?
The Yen has long surpassed its role as a purely travel currency. From daily consumption (shopping, purchasing agents, studying abroad) to financial allocation, the Yen plays an important role.
As one of the world's three major safe-haven currencies (alongside the US dollar and Swiss franc), the Yen often sees capital inflows during market turbulence. Taking the Russia-Ukraine conflict in 2022 as an example, the Yen appreciated by 8% in a single week, effectively hedging a 10% decline in the stock market. For Taiwanese investors, holding Yen is not only for leisure but also serves as a tool to hedge against fluctuations in the Taiwan stock market.

How does the foreign exchange market work?
The foreign exchange market is the largest and most liquid financial market in the world, with a daily trading volume exceeding several trillion dollars. Unlike centralized exchanges, the forex market adopts a decentralized structure, which means there is no single pricing center; instead, numerous participants quote prices based on supply and demand.
Because of this characteristic, the same currency pair may have different quotes from different brokers. However, this seemingly chaotic market actually follows a strict hierarchical system, forming a highly organized trading ecosystem.
Foreign Exchange Market Hierarchical Structure
The forex market is divided into three tiers, each with different levels of liquidity and quoting advantages for participants.
Top Tier: Interbank Market
This is the core level of the forex market, composed of the world's largest financial institutions, including Citibank, JPMorgan Chase, UBS, Barclays, Deutsche Bank, Goldman Sachs, HSBC, and Bank of America, among others. These banks directly communicate through electronic

In the era of inflation, putting money in the bank is equivalent to losing money in disguise. More and more young professionals realize that relying solely on their salary to save is far from enough; only through investment and wealth management can they combat the decline in purchasing power. But the question is—how should small investors with limited funds get started?
This guide will reveal: Can small amounts of capital really grow money? Which platforms are suitable for beginners? How to start investing with 1,000 yuan or even less?
Choose the right platform first, then start investing
Selecting from among many investment apps is no small task. The following 8 criteria can help you identify reliable platforms:
1. Is the trading smooth — Avoid lag and delays
2. Is it regulated by financial authorities — Verify platform credentials
3. Professionalism of customer service — Can issues be resolved quickly
4. Transparency of fees — Are transaction costs low
5. Convenience of deposits and withdrawals — Is fund flow quick
6. Does it offer demo accounts

What exactly is an IPO? Why do all companies want to go public?
You've heard of the term IPO, but not many people truly understand it. Simply put, an IPO (Initial Public Offering) is the process by which a private company sells shares to the public for the first time, transforming from a private enterprise into a publicly listed company.
Why do companies go public? Because relying solely on the founders' and early investors' funds is far from enough. As the business expands and ambitions grow, it needs to raise capital from the capital markets. Going public not only allows for quick fundraising of large amounts of capital but also enables early shareholders to cash out, enhances the company's reputation, and facilitates employee incentives—multiple benefits in one move.
In other words, an IPO is a critical moment for private investors to realize returns and also an opportunity for a new wave of retail investors to enter the market.
US Stock IPO vs. Hong Kong Stock IPO: A Major Comparison of Listing Requirements and Processes
Want to enter the US stock market or the Hong Kong stock market? The difficulty levels of listing in the two markets vary greatly.
Hong Kong Stock IPO: Four Steps

The Nature of Support and Resistance: The Clash of Market Forces
In any market price fluctuations, there are always two opposing forces at play. One is the defensive line that guards against price declines, which we call support; the other is the ceiling that prevents prices from rising, which we call resistance. Essentially, support and resistance reflect the strength comparison between buyers and sellers at different price levels.
Traders pay attention to support and resistance because these levels often become critical decision points. When prices approach these areas, market participants make predictions based on historical performance, leading to a self-fulfilling prophecy—buying interest accumulates near support levels, while selling interest surges near resistance levels.
How to accurately identify support and resistance levels?
On candlestick charts, the locations of support and resistance are not arbitrary:
Characteristics of support levels: The price repeatedly stops falling and rebounds near a certain price point, forming a series of lows. These lows connect to form a straight line, which

Why Have Defense Concept Stocks Become Key Assets Today?
Currently, the global geopolitical situation is tense, with conflicts escalating from Eastern Europe to the Middle East, and national defense budgets rising accordingly. Unlike traditional warfare, modern warfare relies more on high-tech methods such as drones, precision missiles, and information warfare. This shift has directly driven the rapid expansion of the global defense industry. Many countries are increasing their defense investments in hopes of achieving strategic goals of "winning with less" through technological advantages.
Against this backdrop, defense concept stocks have gradually become a hot topic among investors. These companies maintain stable relationships with the government, have long-term order certainty, possess strong business moats, and are more resilient to economic cycles compared to ordinary listed companies.
What Are Defense Concept Stocks? Essential Knowledge Before Investing
Defense concept stocks refer to listed companies whose main products or services are supplied to the Ministry of Defense, the military, or have business dealings with the armed forces. Their scope is extremely broad—

When it comes to technical analysis, the Relative Strength Index (RSI) is definitely a topic you can't avoid. This tool is popular among traders not only because of its simple calculation logic but also because it provides an intuitive reflection of the market’s buying and selling forces. However, just understanding RSI is not enough—what’s crucial is to grasp hidden traps like divergence and deceleration, so you can avoid detours in real trading.
The essence of the Relative Strength Index: The balance of buying and selling forces
The core logic of RSI (Relative Strength Indicator) is quite straightforward: it compares the magnitude of price increases and decreases over a certain period to measure the strength comparison between bulls and bears in the market. In simple terms, it is a quantitative tool for market sentiment.
RSI has become widely used mainly because:
1. Simple calculation: It doesn’t require complex mathematical derivations, only basic arithmetic operations
2. Responsive: It can quickly capture market

Precious Metals Market Movements: Silver and Platinum Lead the Rally
In recent months, the precious metals market has shown a divergence trend. In late September, silver broke through the $45/oz mark, while platinum surpassed $1550/oz, both reaching their highest levels since 2011 and 2013 respectively. In contrast, gold's gains during the same period have been relatively moderate. Since the beginning of the year, silver has increased by 55% and platinum by 71%, both significantly outpacing gold's 41% rise. This phenomenon of "non-mainstream precious metals leading the rally" warrants in-depth analysis.
From Risk Aversion to Valuation Recovery
The main factors driving the overall rise in precious metals include two aspects. On one hand, increasing uncertainty in the global economic outlook and frequent geopolitical risks have heightened investors' risk aversion; on the other hand, major central banks have shifted their monetary policies towards easing, with the Federal Reserve continuing to cut interest rates, significantly reducing the holding costs of precious metals.
However, behind the extraordinary gains of silver and platinum, there are also

As the global push for carbon neutrality becomes more urgent, the energy storage industry has become a core driver of the energy transition. The United Nations Climate Report clearly states that carbon emissions should be halved by 2030 and reach net zero by 2050. Countries are accelerating the deployment of renewable energy and energy storage facilities. According to the latest forecast from BloombergNEF, by 2030, the global cumulative installed capacity of energy storage will surpass the terawatt-hour mark, with lithium-ion batteries dominating the landscape. This wave of energy revolution is creating unprecedented growth opportunities for companies related to energy storage.
Core Value Chain Analysis of the Energy Storage Industry
The energy storage industry is not a single industry but a complete ecosystem. To understand the investment logic of concept stocks in energy storage, one must first understand the industry structure.
Battery manufacturing is the heart of energy storage systems. From lithium batteries and solid-state batteries to emerging sodium-ion technology, battery manufacturers face dual challenges of raw material fluctuations and international competition.