FX, more commonly known as Forex or Foreign exchange, is the biggest and most traded market in the world, where global currencies are bought and sold with an average turnover of more than $5 trillion per day. Forex is traded 24 hours a day, 5 days a week and unlike other financial markets, there is no centralized marketplace for it. As a result, the Forex market attracts many traders, beginners and experienced alike.
FX trading with the SeguroFX platform is very simple and involves buying one currency pair and simultaneously selling another. After you log in to your trading account, you are prompted with a click of a button into the trading platform, where you can select a variety of currency pairs, such as majors, minors or exotic. Once chosen, all that’s left to do is enter the amount you wish to BUY or SELL, set the stop loss and take profit parameters (optional) and click the Invest button. The same principle also applies to CFDs.
The base currency (also called the transaction currency) is the currency against which the exchange rate is quoted. As a rule, it will always be the first currency of any pair. For instance, in GBP/USD, the base currency is GBP.
The quote currency (also called the secondary currency) is the second currency quoted in a currency pair. For instance, in GBP/USD, the quote currency is USD.
The answer is no. There is absolutely no need for any previous experience in order to start trading Forex with SeguroFX.
The maximum leverage that we offer currently stands at X200.
A strike price reflects the entry level market price for an underlying asset when a position is executed.
The returns on a successful investment at SeguroFX may vary and depend on market movements. You can follow this formula to get an idea as to how returns on successful investments are calculated: (Closing Rate-Opening Rate) x (Closing {quote}/{home currency}) x Units.
The difference between traditional trading and forex trading is primarily regarded to their acquisition, or better yet, lack of acquisition. Traditional trading (such as stocks trading) has to go through stock exchanges, whereas forex trading does not involve any acquisition, just pure trading.