The biggest market
With roughly $5 trillion traded every day. It is the pairing of two currencies, whether a major like the US dollar, Japanese yen, or euro, or a minor, such as the Singapore dollar, South African rand, or Polish zloty. Here at ETFinance, you have dozens of currencies to trade, all with low spreads and high leverage potential.
While once forex trading sat securely in the realm of investment bankers and hedge fund managers, today, savvy traders can trade forex online at leading online brokerage sites like ETFinance.
One of the cool things about the foreign exchange market is that trading happens round the clock, so anytime you feel there is a change brewing that you want to take advantage of, you can.
And with forex, things are constantly changing. News about Brexit, inflation up in the US, a strike in China…all these events can influence currency prices, giving traders an opportunity to profit.
Within forex investing, there are three main groups of currency pairs.
Which are traded more frequently than the others. These pairs are made up with the US dollar or euro on one side, facing another major currency. For example, the US dollar (USD) on one side versus the GBP, CHF, EUR, JPY, CAD, AUD or NZD. Examples include USD/JPY and EUR/USD. Additionally, the euro versus any of these: GBP, CHF, JPY and USD. For example, the EUR/CHF and EUR/GBP.
Which are traded quite a lot but not as often as the major pairs. Some examples include pairs like the AUD/NZD, CHF/JPY and AUD/CAD.
Which are traded less often than all the others. Some examples include EUR/SEK and USD/RUB.
All kinds of investors, novice traders and experts alike, will find much to trade on at ETFinance plus a great choice of educational resources and trading tools to support you. If you are new to online CFD trading or forex, check out our learning hub for courses, news, articles and so on. If you have questions about getting started or trading in general, reach out to our professional customer support representatives. With all the features we offer, you are sure to find something interesting to trade on. Get started now and see if ETFinance is the right choice for you.