Forex trading is the largest trading market with over $5 trillion in daily turnover. Within this constantly evolving industry, we make sure that you get the latest updates and the most important events that will assist your journey in the foreign exchange trading world.
What is the Foreign Exchange Market?
The Foreign Exchange Market is where you can transact various currencies at different rates. With Forex trading you can exchange currency pairs such as EUR/USD and GBP/USD towards what you believe could be more potentially profitable.
- Vast. FX Market has over $5 trillion in daily turnover.
- Accessible. 24 hours a day, 5 days a week.
- Diverse. Over 70 currency pairs.
- Mobile. Trade from anywhere, at any time.
How does Forex trading work?
It is a simple transaction between two different currencies. Forex trading is available through Contracts For Difference (CFDs), which means you need to speculate on whether the price of one currency will rise or fall against another currency.
For example, if you select to trade Forex through GBP/USD and you expect the value of GBP to rise against the USD you will go long, hence you BUY.
If you believe that the opposite will happen, meaning that the value of GBP will decrease against the USD then you will go short, hence you SELL.
Three Simple Steps to Forex Trading
Select a currency pair
Choose a currency pair that you see fit to your trading strategy and begin to trade.
Figure out the pair’s movement
Through technical, fundamental or any other analysis, speculate where the price will move.
Place your trade
The last step will be placing your trade. Then you can examine other opportunities for other trades.
Effortless Trading from Anywhere
MetaTrader 4 has established itself as the standard platform for online trading. A highly efficient platform for all levels of traders that is also available through various devices such as desktop, web browsers, tablets, and mobiles.