Currency Pairs Trading
Foreign exchange, Forex or FX trading, is the conversion of one currency into another.
It is one of the most actively traded markets in the world.
Recognized as the world’s largest and most liquid financial market, foreign currency exchange (also known as forex or FX) provides continues trade opportunities to traders across the World.
The value of any particular currency is determined by market forces based on trade, investment, tourism and geo-political risk. Traders can benefit from market fluctuations, and through Over-the-Counter (OTC) transactions.
Advantages of Trading the Forex Market
24-hour Market – investors can participate in market fluctuations anytime and through different time zones. so take advantage of different active session’s around the world
Low-cost Trading – Trading currencies is the most affordable financial asset category to trade and our spreads are extremely competitive
Currency Pairs – We offer a wide range of currencies pairs for you to trade including majors, crosses and exotic Forex pairs.
Market Transparency– With large transaction volumes and high liquidity, the Forex market provides an efficient and transparent flow of trades between buyers and sellers at lightning speeds.
Global Market – The Forex market is a truly global market where besides domestic also international economic, political trends and policies can affect the currencies movements drastically.
Forex volatility – The high volume of currency trades each day translates to billions of dollars every minute, which makes the price movements of some currencies extremely volatile. It is in fact so large that not one entity is able to control the price.
Different Forex Currency Pairs
Majors Currency pairs
Majors are the most liquid and most widely traded currency pairs in the forex market. Major currencies include: EUR/USD, USD/CHF, USD/JPY, USD/CAD and GBP/USD.
Minors Currency pairs
Minor currency pairs do not contain the US Dollar. They are known as cross-currency. These slightly less popular pairs often experience more wild swings in both directions due to less liquidity in the market. Some of the most popular and highly traded cross pairs include: EUR/GBP, EUR/JPY, EUR/CHF and GBP/JPY.
Exotic Currency Pairs
Exotic currency pairs are made up of a major currency paired with the currency of an emerging or a strong but smaller economy from a global perspective such as Hong Kong or Singapore and European countries outside of the Euro Zone.
How do I start trading Forex?
There are two ways how the forex market can be traded.
Fundamental analysis or technical analysis.
Fundamental analysis involves assessing the economic state of a country, and by extension, the currency. It does not take into account currency price movements. Rather, fundamental forex traders will use data points to determine the strength of a particular currency.
These types of traders will analyze the country’s inflation, trade balance, gross domestic product, growth in jobs numbers and many other benchmarks to find their trading opportunity.
Technical analysis involves pattern recognition on a price chart.
These types of traders will look for price patterns and based on the pattern, these traders will determine the entry and exit points. Unlike fundamental traders, a technical trader is not as concerned about why something is moving because they go by the trends and patterns on the charts.
How do I start trading Currencies with MonoInvest?
- Create an MonoInvest trading account
- Research the currency pair you look to trade
- Decide how you want to trade long, short and your trading strategy
- Take steps to manage your risk with setting the stop loss
- Open and monitor your position
Open Your MonoInvest Trading Account
With MonoInvest you can trade cryptocurrencies, indices, shares, currency pairs and more with ease.
To apply for a live trading account, all you need to do is click the buttons below.