The largest financial market in the world. It involves the buying and selling of various currencies to profit from changes in their exchange rates.
The foreign exchange market has no specific trading platform, unlike stock and commodity exchanges. Regional markets are used for currency trading transactions. The most significant of these are: Asian, European, American, and Pacific.
Trading on this market can take place around the clock via the Internet. However, it's important to note that there are exceptions: weekends and holidays.
There are four main groups of participants in the Forex market
The trader has $5000 in their account. They noticed a downward movement in the EUR/USD pair.
The trader decides to sell 1 lot at 1.3910, and the quote drops to 1.3760 within a day. The trader exits the trade and locks in a profit.
The trader makes a profit of 150 pips (1.3910-1.3760). 1 pip = $10. The profit amounts to $1500 within 24 hours.
Ability to start with a small amount You can trade on the foreign exchange market with a minimum deposit of $100.
Flexibility The market operates 24 hours a day, 5 days a week. Choose a convenient time for you by trading during Asian, European, American, or Australian sessions.
High profit potential Currency pair prices are constantly moving – which means there's a chance to catch enough pips for profit. Even a downward trend allows you to profit from selling a currency pair.
High liquidity In Forex, you can open and close trades without delays, as you will always find a suitable order, which is especially important for scalping strategies.
Accessibility Having an internet connection and a smartphone or laptop is all you need to trade in real time from anywhere in the world.
and get a bonus for trading currency pairs
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