Forex Trading at a Glance
Did you know that the global forex trading market is worth over $2.4 quadrillion? Get a piece of it with currency CFDs.
To capture the swings of the world’s money markets, understand their dynamics and catch the headlines that move them, you need 1Market - your ultimate destination for live charts & education.
Why trade currency CFDs with 1Market?
Quick Facts about Forex
Currency pairs are among the most popular and widely traded asset classes worldwide. What makes them so attractive? Their ability to fluctuate rapidly by fractions of a cent, or in other words, volatility. Whether you are familiar with CFD trading or a savvy trader, the Forex market presents you with a wealth of opportunities to take advantage of the price movements of the most liquid asset in the market, you need a trusted broker, a healthy level of leverage, and the tightest of spreads. 1Market offers you all that and even more. Choose your account type and start trading today.
The Forex market generates more than $6.6 trillion in transactions every day, of which over $6 billion-worth of transactions are for the USD currency, three times higher than for the Euro (EUR). Central banks hold foreign currencies as international reserves to facilitate the transactions in global trade. Governments buy and sell currencies to maintain the exchange rate at a certain level. China is a good example, from this perspective.
What is Forex?
Also known as foreign exchange, Forex is a global marketplace where national currencies are exchanged or traded against each other. Participants in the Forex market invest in the evolution of relative values between set currency pairs.
What currencies can I trade with 1MARKET?
While every broker offers a different range of currency pairs, most of them, including 1Market provide traders with a choice of major pairs (EURUSD, GBPUSD, USDCHF, AUDUSD, USDCAD, USDJPY, NZDUSD), minor pairs (EURGBP, EURAUD, GBPJPY, CHFJPY, NZDJPY, GBPCAD), and exotic pairs (EURTRY, USDHKD, JPYNOK, NZDSGD, GBPZAR, AUDMXN, USDTRY, USDMXN).
Are there any currencies that are not tradable?
Brokers’ offer in terms of Forex trading varies. With a market so broad, it is impossible to cover it in its entirety. Not to mention, certain national and international rules and regulations prevent trading on certain currencies such as the Iraqi Dinar or the Vietnamese Dong. Most importantly, rules may arise requiring brokers to temporarily remove specific currencies from their platforms.
Are there any fees associated with Forex trading?
Generally, brokers do not charge any fees for the trades you place on your account. They profit from the difference between the Buy and Sell prices – commonly known as ‘spread’. However, if you leave positions open overnight, you may be charged swaps (rollover fees).
What is the difference between long and short positions?
With Long or Buy positions you profit from a rise in the current currency price, while with Short or Sell positions, you profit from a decline in currency price.
What are the trading hours of the Forex market?
The Forex market opens at 22:00 GMT Sunday and closes at 22:00 GMT Friday (when the US market closes).
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