open forex account
Many forex online trading companies offer small pip spreads, just like we do, but will you be forgotten once you open a forex trading account? We deliver personalized service to all of our individual clients regardless of account size.
Things to know before you open a forex trading account.
What is Forex online trading?
Forex is short for foreign exchange and is the name given to the "direct access" trading of foreign currencies. With an average daily volume of $1.4 trillion dollars, forex is roughly 30 times larger than all of the futures markets combined, and is therefore one of the most liquid markets in the world. Because forex is electronically traded like Nasdaq stocks, trading occurs 24 hours a day around the world.
How does Forex online trading work?
In forex online trading, currencies are always priced and traded in pairs. You simultaneously buy one currency and sell another or vice versa. The most valuable currency is listed first. For instance, you believe that the US Dollar will strengthen vs. the Euro Currency so you would sell the Euro Currency and buy the US Dollar or Sell EUR/USD. If you believed that the Euro will strengthen vs. the US Dollar then you would Buy EUR/USD. The British Pound (GBP) and the Australian Dollar (AUD) and the Euro Currency (EUR) are more valuable than the US Dollar (USD) and therefore are listed first. The Japanese Yen (JPY), the Swiss Franc (CHF) and the Canadian Dollar (CAD) are less valuable and therefore listed second.
open forex account
What are the most active currency pairs?
Around 85% of all currency trades occur between the major currencies. The "majors" are the most liquid because they are seen as having the strongest economies, stable governments and strong central banks. The major currencies include: EUR, USD, JPY, GBP, CHF, AUD and CAD.
What is a pip?
A pip stands for (percentage in point) which is 1/100th of 1%. In EUR/USD an example of a 3 pip spread ($30) is quoted at 1.2000/1.2003. The pip spread is how the currency trading company and the introducing broker are compensated for their services.
Is there a difference between online currency trading, Forex online trading, Forex currency trading and online foreign exchange trading?
No. All of these terms are used interchangeably with each other and are referring to the same thing.
open forex account
open forex account
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