Forex Trading
The forex market is the largest financial market in the world, with a daily trading volume exceeding $7.5 trillion. Trade currency pairs with leverage, around the clock.
What is forex trading?
Forex trading (also known as FX trading or currency trading) is a global marketplace where currencies are exchanged at floating rates. The foreign exchange market operates off-exchange in a decentralised global marketplace.
Currencies are traded 24 hours a day, 5 days a week. You are not dealing in physical currency. You are trading the price movements, measured in pips, of currency pairs.
How does forex trading work?
Forex is traded in currency pairs, for example EUR/USD. The first currency is the base currency and the second is the quote currency. The exchange rate shows how many units of the quote currency you can buy with one unit of the base currency.
For example, EUR/USD at 1.2344 means 1 Euro = 1.2344 US Dollars. If you think the Euro will rise against the US Dollar, you go long. If you think it will fall, you go short.
Major forex pairs
The most popular currency pairs, known as the majors, account for the majority of forex trading volume: EUR/USD, USD/JPY, GBP/USD and USD/CHF.
Why trade forex with EqualMarkets?
- Trade with leverage
- Trade the most liquid market in the world
- Access a wide range of currencies
- Go long or short in currencies
- Trade 24 hours, Sunday to Friday
- Make use of high intraday volatility