What is Forex?
Trade Forex currency pairs at Deriv.
If you would like to trade under the industry’s highest level of trading conditions, please open an account with Deriv and start trading immediately.
Forex or FX stands for Foreign Exchange The FX market is the world’s largest and most liquid financial market with a daily trading volume of $ 6.6 trillion (2019).
The Forex market is a global and decentralized market where different currencies are exchanged.
As the exchange rate is constantly changing, so is the market.
Most of the currency trading in the Forex market is done for speculative reasons, and currency traders buy currencies in the hope that prices will rise and sell at some point in the future.
Forex Trading Hours
The Forex market is open 24 hours a day in various countries, from 5 pm Sunday (Eastern Standard Time) to 4 pm Friday (Eastern Standard Time).
This is possible due to the different international time zones.
Global markets are open and closed with several hours of business hours overlapping each other, and there is always one or more markets open at any time of the day.
The Australasia trading market opens first, followed by the European and North American markets.
What to do before trading Forex
Deriv allows you to trade CFDs on Forex. CFD stands for “Contract for Difference” and allows traders to infer whether the price of a currency will rise or fall.
When trading Forex, traders need to take a few steps.
- Choose a currency pair. Currencies are always traded in pairs. Because in Forex trading you buy one currency and sell the other.
- Study the market. View current and past charts, follow economic news and events, and perform technical and fundamental analysis.
- Understand the price. Two prices are displayed for each currency pair. The first rate is the price at which the currency pair can be sold, and the second rate is the price at which the currency pair can be bought. The difference between these two rates is called a spread.
- Do you buy or sell? Forex trading allows you to speculate on rising and falling prices in the market. When you open a buy position, you think that the value of the base currency will increase compared to the quoted currency. When opening a sell position, Deriv believes that the value of the base currency will be lower than that of the quoted currency.
Popular trading strategies of Forex
Forex trading strategies are a method used by Forex traders based on multiple analyses, usually using trading signals to determine whether to buy or sell a currency pair at any given time.
There are many types of trading strategies, but the most popular are day trading, position trading, swing trading, trend trading and scalping.
What constitutes an effective Forex trading strategy?
- Currency pair
- Position size
- Entry point
- Exit point
- Trading rules
Posted by FXBonus
Please check Deriv official website or contact the customer support with regard to the latest information and more accurate details.
Deriv official website is here.
Please click "Introduction of Deriv", if you want to know the details and the company information of Deriv.
IronFX
Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!