Trade more than 50 forex markets, 24 hours a dayfrom Sunday night until Friday night with FXOpen
Opena forex trading account
Forex trading forthe experts
Forex trading, foreign exchange or FX trading, issimply the conversion of one currency into another.As one of the most actively traded markets in theworld, with individuals, companies and banksexecuting trillions of dollars’ worth oftransactions every single day, it’s a market whereexperienced individuals come to test their skills,knowledge and tenacity.
Advantages of forextrading with FXOpen
One platform with multipleinstruments and markets
With us, you can use one platform for indextrading as well as for commodities (metalsand energy only), forex, shares andcryptocurrency* CFDs.
You're trading with a true ECN technology broker
You're trading with a true ECN technology broker trusted by more than 1 million traders worldwide.
Highlycustomisable
to your individual trading style and strategies, meaning you are in complete control of yourtrading.
Access to automated trading
You have the choice to download and use ready-made scripts and expert advisors or create a customindicator or script, based on your very own trading strategy.
Access anytime, anywhere
via the desktop, web-based or mobile version of the FXOpen suite of trading platforms.
A wide range of analysis
50+ built-in indicators and graphic tools for technical analysis, quotes history center, strategytester and news, all designed to help you increase your trading knowledge.
Open a forex trading account
Forex
Trade over 50 FX markets, 24 hours a day fromSunday night until Friday night.
As an ECN technology broker we connect with major banks andother liquidity providers to provide the
bestpricing with deep liquidity and spreads from 0.0pips.
ProductinformationCommissions
Setting measurable goals ina volatile market
Although forex trading is done mainly forpractical purposes, the majority of thesecurrency conversions are undertaken byspecialist forex traders to earn a profit.
Not for the faint hearted
Price movements can be extremely volatilebecause of the volume of currency beingconverted on a daily basis, which is somethingthat every good trader should be aware of.
Whether you’ve been trading for a year or havedecades of experience behind you, it’s vital toset yourself quantifiable goals before youbegin. That could be achieving a 20% annualreturn on your investment or getting a total of100 pips a month – whatever your goal, it shouldbe easily measured.
How does forextrading work?
Forex trading works like any other transactionwhere you buy one asset using currency. Whereforeign exchange is concerned, the market priceindicates to a trader how much of one currencyis required to buy another. Each currency hasits own code which lets traders identify it aspart of a pair.
For example:If you’re buying a currency pair, you’d expect to see the price rise, indicating that the basecurrency is strengthening relative to the quote currency. If you’re selling a currency pair, you’dexpect to see the price fall. This would happen if the base currency has weakened against the quote.For example, you would buy a GBP/AUD currency pair if you think the pound will strengthen againstthe Australian dollar, or sell if you think the pound will weaken.
The risks and rewards of theforex market
As with most things in life, there are bothrisks and rewards when trading in the forexmarket.
Understanding them both will help you to become a successful forex trader. Remember thatforex is the most-traded financial market in the world, with prices that are constantly moving,therefore creating an abundance of opportunities to trade.
Another of the key risks to consider is thatsome forex pairs are much more volatile thanothers, and pairs that include USD are often inhigh demand making them more liquid than others.
If you’re aware of the risks and take steps tomitigate them, the forex market can be veryrewarding.
However, to gain the rewards and profits you maybe looking for, you need to have a fullunderstanding of all risks involved in tradingand the forex market.
Expert trading for expert traders at FXOpen
FXOpen is a true ECN technology broker, where trades are matched with the best available price on the ElectronicCommunication Network (ECN). With tight variable spreads, low commissions and an NDD model, we want allour clients to be successful traders so there is no conflict of interest. With FCA regulation and FSCSprotection of £85,000, FXOpen UK is the ideal choice for traders.
FXOpen is one of the best forex trading platforms in the UK, with a range of major, minor and emergingcurrency pairs for you to go long or short on, as well as forex charts and other useful tools like aneconomic calendar. Why not get in touch with our team today to access a live account. Offering you theability to trade in over 50 forex markets, 24 hours a day from Sunday night until Friday night, discoverfor yourself why so many experts trade with FXOpen.
Why do people trade forex?
People trade on the forex market for a number of different reasons. The foreign exchange marketsarethe largest and most liquid financial markets in the world, making them immensely popular amongforex brokers and traders. Forex trading exploded in popularity because of its leverage,continualtrading opportunities, high liquidity and low entry costs.
What is a forex broker?
After the 1970s, when the United States dropped theBretton Woodsagreement regarding the USD convertibility in gold,the foreign exchange market grew dramatically. First available only to institutional players duetothe high transactioncosts and difficulty to access, it all changed when the internet and online trading appeared.Forex brokers made it possible for the retail trader to join the largest financial market in theworld.
Aforex brokeris an intermediary link between the trader and the market.It offers market quotes via its various liquidity providers, and its tradingplatform reflects the best possible conditions it has to offer to its customers.For this, it charges a fee or a commission, and its interests align with those of the trader.
Brokers are organised as either a dealing desk (also called market makers) or a non-dealingdesk.A dealing desk creates a market by mirroring the quotation from the interbank market and dealstheprices to its clients. In non-dealing desks, forex brokers route their clients’ orders to theliquidity provider, and the best quote is offered to retail clients from the liquidity pool.
Brokers organised like non-dealing houses often offer ECN (Electronic Communication Network)or STP (Straight-Through Protocol) execution. However, different types of forex brokers exist,mixing dealing with non-dealing conditions, and operating as hybrid entities.
Depending on the type of the brokerage house, different account types exist.ECN accounts and STP accounts are just a couple of examples.
What factors move the forex market?
Because the forex market is made up of currencies from across the globe,predictingexchange rates is difficult as there are a number of factors that constantly move prices.The main driving factors for these moves are central banks, news reports and market sentiments.Understanding how each of these operate will help you on your trading journey.
It’s also important to remember that prices move up and down based on supply and demand,just like any other financial market. As a forex trader, you’re likely to either choose toput your money into an economy that has strong growth potential or short a market.
How to define success as a forex trader?
No matter if you’ve been trading for a short or long time, defining your success will help youto become an expert trader. Think about what you want to achieve from it and how you personallydefine success.
Setting goals is vital and these should be easy to measure. It’s also recommended you seta target that can be achieved over a long timeframe, annually for example, as opposed tomonthly. Once you’ve established these factors, you’ll be able to put your action plan intowork.
Regardless of how experienced you are, it’s important to always manage your expectationsthroughoutthe forex trading process, and control your emotions. To become a successful trader, you mustunderstandthe mechanics of the forex market, trust your analysis and follow the rules of your forextradingstrategies.
Opena forex trading account
*Cryptocurrency CFDs are only available for trading by those clientscategorised asProfessional clients underFCA Rules.They are not available for trading by Retail clients.
