Over 2 million people from all over the world have chosen a worldwide leader in online financial trading and investment. This is the reason.
Find out how to trade more efficiently with FXTM.
FXTM is an award-winning broker for a reason. You can rely on us to provide trading solutions that match your demands, regardless of your financial objectives. This entails offering you the widest selection of goods, platforms, account types, and tools in order to make trading as efficient and convenient as feasible.
P.S: Check out the overview of a few of the incredible benefits of joining the FXTM broker in this article.
Definition of Currency Trading
Currency exchanges are always done in pairs, with the base currency being the first and the quote currency being the second. Forex traders buy one currency in a pair while selling the other, based on how the currencies’ values are expected to change in relation to one another. For a more detailed explanation, see our Forex Trading for Beginners page.
Inflation, interest rates, the quantity of government debt, and political stability are just a few of the key factors that impact currency pricing. Traders speculate on the probable effect of major economic or political developments, which causes the most volatility for forex investors.
There are three types of currency pairings. The most liquid currency pairs are the major currency pairs, which are the most traded in the forex market. Like the EUR/USD and the USD/JPY, they normally have the US dollar as one side of the pair. EUR/JPY and EUR/GBP are two more prominent pairings that are often traded.
Currency Trading
Currency traders, also known as FX traders, purchase and sell currency pairs with the help of a forex broker, who acts as a middleman between the buyer and the seller.
Key benefits of trading forex
- Massive market liquidity
- Orange Bullet Point Low minimum deposits
- Orange Bullet Point The market is open 24/5 – trade any time that suits you.
Brief Description on indices trading
The strength of one currency versus a group of other major currencies is measured by an FX index, which is made up of 5 or 6 major currency pairs.
The strength of the index is related to the price changes in these currency pairs. As the price of that particular currency rises in contrast to other currencies, the index’s value rises.
These products are used by traders who wish to spread their risk rather than investing on the price movement of a single currency or currency pair.
Foreign exchange and foreign exchange indices trading platforms
For an unrivalled trading experience, combine the power of MetaTrader with FXTM’s award-winning services. FXTM allows you to trade metals on your PC, Mac, mobile device, or tablet using MetaTrader, the industry’s most powerful trading platform.
These platforms have all of the tools you’ll need to maximize your trading experience, such as technical indicators, interactive charts, and a top-notch security system.
To clarify, MetaTrader 4 is only available for FX trading on our Micro account; however, those with an Advantage or Advantage Plus account can trade both FX and FX Indices on MetaTrader 4 or MetaTrader 5.
What exactly is a Forex Contest and how does it operate?
A trader may put their tactics to the test, enhance their talents, and gain confidence by participating in a forex competition. Live forex contests are suited for experienced traders who can bring their confidence and talent to the table in what can quickly turn into a heated competition! Demo forex contests check all the boxes for most traders and are suitable for both experienced and beginner traders, whereas demo forex contests are suited for experienced traders who can bring their confidence and talent to the table in what can quickly turn into a heated competition!
The Benefits of a Demo Contest
Beginners will be encouraged to examine the forex market, and they will almost certainly gain considerable forex competence, preparing them for a future career as professional traders.
Beginners will acquire insight into the psychology of forex trading, which cannot be learnt on a demo account since, while there is no risk of losing money in a simulated competition, real money is at stake.
All traders should test their strategies before implementing them in the real forex market.
Nothing beats being praised for your skills, especially when you haven’t placed yourself in any risk!
Live Forex Trading Contest
When it comes to the real thing, trading takes place with other professional traders in real-world market conditions, making the competition a legitimate test of skill.
A live forex contest’s adrenaline rush, as well as the competitive spirit it generates, encourage traders to give it their all and push themselves to their limits.
Competing against other traders is a whole different experience than trading alone – it’s a reflection of your real-world abilities and a valuable learning experience.
You may show off your trading ability in front of a crowd of other skilled traders and win rewards based on your talents. The highest achievers will be lavishly rewarded.
