GlobaleFx

What is Forex trading?

Forex or otherwise known as foreign exchange market refers to the global currency trading market. It is the largest and the most liquid financial market where currencies are traded by traders from all corners of the globe. The trading concept is very simple - A trader buys one currency and sells another, and the exchange rate constantly fluctuates according to global supply and demand.

Can I trade Forex 24/7?

Yes, you can, like other trading platforms, you can place an order at a specified time of the day or any other day and time. Multiple currencies can be traded and the forex market is available for trading 24 hours a day except for weekends. However, the ability of the forex to trade over a 24-hour period might be different for different time zones.

What is trading strategy?

There is nothing called a trading strategy. To trade successfully you should constantly develop your own strategies depending on the market situation if you want to make a profit out of your trades. However, specific trade strategies might be good for a limited time period and for specific currency pairs only.

What is a currency pair?

The basic concept of Forex trading is simply the exchange of one currency for another. That is why currencies in the forex market are traded in pairs. This is the reason why most of the currency pairs are denoted as a quotation for one currency against the other, otherwise known as quote currency and base currency.

How are orders executed?

Order execution is simple. For a forex trade to be executed on the platform, an investor who trades using a brokerage account would first have to submit a buy or sell order. This will then be sent to a broker on behalf of the investor, then the broker would be allowed to decide which market to send the order to be executed.