Why Trade Forex With Trustfx?
Leverage upto 1:1000
55+ Currency pairs
24 Hrs open for 5 Days
ELECTRONIC PAYMENT SYSTEMS
|Symbol||Description||Typical Spreads in quote currency per unit||Margin requirement||Swap values in margin currency||Trading Hours|
|Short||Long||Monday Open||Friday Close||Break|
|CADCHF||Canadian Dollar/Swiss Franc||2.4||1:1000||-8.5||2.0||0:00:00||23:59:59||-|
|CADJPY||Canadian Dollar/Japanese Yen||2.3||1:1000||-7.4||1.2||0:00:00||23:59:59||-|
|CHFJPY||Swiss Franc/Japanese Yen||2.9||1:1000||-1.5||-5.0||0:00:00||23:59:59||-|
|EURGBP||Euro/Great Britain Pound||1.8||1:1000||-0.2||-5.5||0:00:00||23:59:59||-|
|GBPCAD||Great Britain Pound/Canadian Dollar||4.1||1:1000||-1.5||-9.5||0:00:00||23:59:59||-|
|GBPCHF||Great Britain Pound/Swiss Franc||2.4||1:1000||-9.0||1.0||0:00:00||23:59:59||-|
|GBPJPY||Great Britain Pound/Japanese Yen||3.0||1:1000||-7.5||0.1||0:00:00||23:59:59||-|
|GBPUSD||Great Britain Pound/US Dollar||1.8||1:1000||1.0||-8.5||0:00:00||23:59:59||-|
|USDCAD||US Dollar/Canadian Dollar||1.9||1:1000||-4.5||-1.5||0:00:00||23:59:59||-|
|USDCHF||US Dollar/Swiss Franc||1.9||1:1000||-10.5||1.0||0:00:00||23:59:59||-|
|USDJPY||US Dollar/Japanese Yen||1.7||1:1000||-10.4||2.0||0:00:00||23:59:59||-|
First time trading Forex?
Forex can be simple to understand – you trade one currency for another one – it’s accessible, open 24/5 – and with $5 trillion of daily trading volume it’s really dynamic. This is why Forex is a favorite amongst both novice and advanced traders. Trade forex now to discover this market.
The five most popular Forex pairs involve some of the World’s most powerful currencies including the U.S. dollar (USD), the British Pound (GBP), the Euro (EUR), the Swiss Franc (CHF) and Japanese Yen (JPY). The so-called “major pairs” are currency pairs involving these currencies. When you trade Forex, you basically sell one currency for the other, but they are considered as one unit. The base currency is the one on the left i.e. EUR/USD, the non-base currency is the one on the right. Usually the pair is quoted as above: EUR/USD – 1.17800 (indicative price) means that every euro you buy, you sell 1.17800 dollars. Inversely USD/EUR would be quoted as 0.8488 (just divide 1 by 1,17800 to figure out the inverse) meaning you sell 1 dollar and buy 0.8488 euro cents.
When you sell the currency, the opposite exists – you sell one of the base currency and buy the other. In USD/EUR at 0.84888 you sell 1 dollar and purchase 0.84888 euro.
Buying and Selling a pair depends on the market conditions of their currency. For example a negative announcement from the European Central Bank, could cause the euro to drop significantly against the dollar. So, a trader would likely sell the pair EUR/USD meaning they sell EUR and buy USD in the hope that it will gain over the EUR due to the announcement.
No Hidden Commision
Negative Balance Protection
Frequently Asked Questions
Much like other types of trading or investing, there are risks associated with forex trading as well. However, there are certain things which are exclusively present in forex trading. For instance, leverage is being provided which can generate huge profits or incur large losses. The customer should understand this thoroughly, so that they are more prepared as a forex trader. MOreover, there are numerous other variables that contribute to potential profitability or increase potential risk. The best way to achieve your investment/financial goals and avoid unnecessary risk is to have a strategy, a well-defined risk limit and be aware of all the events happening that can cause market volatility.
There are many currency pairs that are being traded. However, few pairs are being traded the most. They are being traded in high volumes and represent some of the world’s biggest economies. To name a few:
- EUR/USD – Euro Dollar
- USD/JPY – Dollar Yen
- GBP/USD – Pound Dollar
- USD/CHF – Dollar Swiss Franc
Now that you have a fair idea about forex, this is the time you should know how to calculate your profit or loss. On every trade close, subtract the exchange rate for selling the base currency with the exchange rate for buying the base currency, the difference will be multiplied with the transaction size. The result would tell you your profit or loss.
Unlike other trading platforms, forex trading works 24 hours a day for 5 days. Traders can trade at their convenience. As for the best time to trade in Forex, this depends on the trader to trader, their aim/target, preferences, and so on.
Trading in forex is a good opportunity. However, this needs some skills to be developed.
In any case, on an individual level, it is a long-lasting excursion of dominating forex trading and creating and culminating the aptitudes and strategies that expand your odds to turn into a beneficial forex trader.
Forex trading can be very difficult and frustrating if the goal is to make money/profits quickly. Moreover, you would end up in losses. To get success in forex trading, you should have a complete plan. And this includes how the market works and what is the trading process to earn money, what is the trading behaviour, price, market volatility and so on.
Your residing country forex regulatory will decide if global forex brokers would acknowledge customers from your nation. Check with a broker straightforwardly to see if they will acknowledge you as a customer and ensure they offer all the types of assistance and devices you require. Whenever you have limited your determination down to a couple of reasonable brokers, investigate their online audits and check whether they have a moderately fulfilled client base. In the event that you don’t perceive the broker, at that point perceive how they contrast with a notable and controlled online broker
There is no fixed amount that you can start with however if someone is starting with a decent amount gives you flexibility in how you can trade. Moreover, a higher amount can help you produce a reasonable amount of income that will compensate you for the time you’re spending on trading.
A lot of people do part-time forex trading and they work very hard. However, they take a hit in their home life. Sometimes to become a quality trader becomes very stressful but extremely rewarding. So to become a full-time trader: Pass the learning curve, plan your strategy, and have patience.