Foreign exchange market
In order to be able to trade, it is required to open an account and hold currency A and then exchange currency A for currency B either for a long term or a short-term trade, with the ultimate goal varying accordingly. Since FX trading is performed on currency pairs i. Currency trading can be carried out 24 hours a day, from There is an endless number of factors that all contribute and influence the prices in forex trading i.
In order to best comprehend the above 6 factors, you will have to keep in mind that currencies are traded against one another. So when one falls, another one rises as the price denomination of any currency is always stated against another currency. Forex trading software is an online trading platform provided to each XM client, which allows them to view, analyze and trade currencies, or other asset classes. In simple terms, each XM client is provided access to a trading platform i. As a retail foreign exchange trader, the most important factors that affect your trading is trade execution quality, speed and spreads.
The one affects the other. A spread is the difference between the bid and the ask price of a currency pair buy or sell price , and so to make it even easier it is the price at which your broker or bank is willing to sell or buy your requested trade order.
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Spreads, however, only matter with the correct execution. In forex trading, some currency pairs are nicknamed majors major pairs. This category includes the most traded currency pairs and they always include the USD on one side. In forex trading, minor currency pairs or crosses are all currency pairs that do not include the USD on one side. In forex trading, exotic pairs include the less traded currency pairs that include a major currency paired with the currency of a smaller or emerging economy.
These pairs usually have less volatility, less liquidity and do not present the dynamic behavior of major pairs and crosses. XM uses cookies to ensure that we provide you with the best experience while visiting our website. Some of the cookies are needed to provide essential features, such as login sessions, and cannot be disabled.
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