fbpx

WHAT IS TRADING IN CURRENCY PAIRS?

Trading in Currency Pairs is the simultaneous buying and selling of the world’s international currencies on a centralized global market. On an outright commodity exchange, this trading is done via Composite Order Trading System (COTS). Using this functionality, a trader may take two positions simultaneously in Gold milli ounce futures contracts with a single click. In other words, if a trader wants to take simultaneously long position in the USD Gold and short position in the EUR Gold, he will place a single order through COTS. The long gold in the first trade and the short gold in the second trade will ‘cancel’ each other, leaving the trader with an open EUR-USD position only. It is regulated, standardized and therefore exchange traded. It’s also referred to as the foreign exchange or FX market. As one of the largest and most liquid financial markets in the world, its total average turnover per day is reported to exceed $5 trillion

 

HOW DO YOU TRADE IN CURRENCY PAIRS?

Our forex pairs are available to trade. When trading forex, you speculate whether the price of one currency will rise or fall against another.

For example, if you choose to trade GBP/USD (British pound/US dollar) and you think the value of the GBP will rise against USD, you go long (buy). If you think GBP will fall against USD, you go short (sell). If your prediction is correct, you make a profit. If your prediction is incorrect, you would make a loss. Remember, losses can exceed deposits.

 

CURRENCY PAIRS

Forex is always traded in currency pairs, for example EUR/USD. The first currency (EUR) is called the ‘base currency’. The second currency (USD) is known as the ‘counter currency’. The way currencies are displayed shows us how many units of the counter currency you can buy with one unit of the base currency. This is the exchange rate, or in other words, how many US dollars you can buy for one euro.

Currency pairs can generally be divided into three groups: major, minor and emerging.

Never depend on a single income, make an investment to create a second source.

ONLINE TRADING PLATFORM

AWARD-WINNING

Our trading platform has won multiple awards, including Best Platform Features, based on highest user satisfaction among spread betters, CFD and FX traders (Investment Trends 2017 UK Leverage Trading Report), and Best Forex Trading Platform at the UK Forex Awards 2016.

CUSTOMISABLE CHARTS

Access all the features you need to analyse price movements and conduct technical analysis. We have over 95 technical indicators, chart types and drawing tools built in.

NEWS AND INSIGHTS

Stay up to date with our market calendar and in-built Reuters news stream.

TRADE ON THE MOVE

Our native mobile apps for iPad, iPhone and Android mean you can trade forex wherever you are, anytime.

YOUR SMART INVESTMENT FINANCE MONEY DECISIONS ARE NOW SIMPLER