A standard lot is equivalent to trading , units of currency. To avoid having to tie up all their capital when opening one position, most forex traders use leverage. With leverage, you only have to put up a fraction of your position's full value to open a trade. The amount you are required to put up is known as your margin. Find out more about forex leverage and margin. The first step to opening a forex trade is to decide which currency pair you wish to trade. There are over 80 to choose from. There are three main categories of forex pair: majors , minors or major crosses and exotics.
There are two main ways to trade forex: derivatives such as Spread Betting and CFDs, or spot forex trading. They all enable you to go long and short on currency pairs, but they work in slightly different ways. Spot FX is when you buy and sell currencies — for instance by buying US dollars and selling euros. You open your trade by deciding how much of the base currency you want to buy or sell. Forex derivatives are markets that enable you to speculate on the price movements of forex pairs without buying or selling any currencies.
Forex Trading – Learn to Trade Forex Like a Pro
When spread betting, you bet pounds per point of movement in the underlying currency. When trading CFDs, you choose how many contracts you want to buy or sell. In addition to choosing how to trade forex, you can pick a different market for each currency pair. The two main types of forex market are spot and futures. All forex is quoted in terms of one currency versus another.
The base currency is the currency on the left of the currency pair and the quote currency is on the right.
Essentially, when trading foreign currencies, you:. BUY a currency pair if you believe that the base currency will strengthen against the quote currency, or the quote currency will weaken against the base currency. SELL a currency pair if you believe that the value of the currency pair will decrease — meaning the base currency will weaken in value against the quote currency, or the quote currency will strengthen against the base currency. The spread is the difference between the buy and sell prices of a forex pair. The difference between them is the spread, which covers the cost of the trade.
Risk management is crucial for successful forex trading — and a key element of risk management is the use of orders. There are two main types of order: stop loss orders and take profit orders sometimes called a limit. Both act as instructions to automatically close a position when its price reaches a specific level predetermined by you.
A stop loss order is an instruction to close out a trade at a price worse than the current market level and, as the name suggests, is used to help minimise losses. There are three types of stop loss orders: standard, trailing and guaranteed. A standard stop loss order , once triggered, closes the trade at the best available price. See all FX prices. Access Tier-1 liquidity to receive higher fill-rates, fewer premature stop-outs and significant price improvements. Data is delayed by up to 30 minutes. See the full disclaimer for more information. Market movers shows you the biggest price movements across selected markets.
Automate your analysis with Trade Signals by Autochartist, free for Saxo clients. This leading technical analysis tool identifies emerging and completed chart patterns. Blue indicates rising trends and red indicates descending trends. SaxoTraderGO is our powerful yet easy-to-use platform. Trade from PC, Mac, tablet or smartphone. Our initial margin rates start at 3. If you qualify as an Elective Professional client, our initial margin rates start at 1.
Tradeview Markets, Forex - Futures - Stocks
See a full list of our FX margin rates for retail clients as well as our FX margin rates for elective professional clients. Read more about FX margins for retail clients here or FX margins for professionals here. Derive the value of potential price improvements on every trade. Assume greater control of your trading, and achieve an optimal balance between fill ratio and price level through our fully customised orders. Saxo offer a variety of orders, including Market, Limit and Stop orders.
To learn more please see Orders and Execution Statistics.
To learn more about how Saxo executes orders on behalf of its clients, please refer to our Order Execution Policy. Whereas the FX spot market is for immediate currency trades, the FX forward market is the market for trading currencies for delivery at some point in the future.
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FX forward outrights enable you to agree a price today the FX forward price at which two currencies will be exchanged on a predetermined date in the future. FX swaps likewise enable you to agree a price today at which two transactions will be executed. An FX swap is a simultaneous purchase and sale, or vice versa, of one currency for another currency with two different value dates; two parties agree upon a currency exchange on one day and simultaneously agree to unwind or reverse that transaction on a specified date in the future.
To understand the FX forward outright trading conditions please click here. For more information on FX swaps please click here.
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A higher margin requirement may apply depending on the level of exposure. Find more information about our general charges here. You can review our trading conditions for Forex here.
Forex trading | CFD trading | Trade FX Online | Currency Trading | UK
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Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk. For further information click here. Our website is optimised to be browsed by a system running iOS 9. X and on desktop IE 10 or newer. Forex trading is conducted via global information networks 24 hours a day.
These are the so-called majors — exchange rates of one currency against another. Besides, there are less popular currency pairs that can also be used for speculative trades.
Forex trading example
Speculation is the core principle of profiting from Forex — buy low, sell high. In order to become a trader and start trading in Forex, you should choose a broker and download MetaTrader 4 for free. The broker provides access to the market, while the trading platform allows you to analyze quotes and perform trades. Before applying to a broker for a live account, you may first want to open a demo account in MetaTrader 4 and trade virtual money to better understand the basic concepts of Forex trading. Technical analysis tools various analytical objects and technical indicators are used to forecast quote movement directions.
The efficiency, accuracy and reliability of analytical algorithms and tools may vary due to market conditions.