FXOpen: Forex brokers for the experts
It’s a market where experienced individuals come to test their skills, knowledge and tenacity – and they do so using FXOpen as their forex trading platform.
Benefits of forex trading in Australia with FXOpen
Trade forex with leverage
Trade forex at FXOpen with up to 1:30 leverage.
One platform with multiple instruments and markets
With us as your Australian forex broker, you can use one platform for forex trading as well as for indices, commodity CFDs and cryptocurrency CFDs.
You're trading with an ASIC-regulated broker
All client money is held in fully segregated Australian bank accounts, in line with ASIC regulations.
Access automated forex trading
You have the choice to download and use ready-made scripts and expert advisors or create a custom indicator or script, based on your very own trading strategy.
Access anytime, anywhere
Whether trading forex in Sydney, London or elsewhere, access your account via the desktop, web-based or mobile version of the MT4, MT5 or TickTrader trading platform.
Access to a wide range of analysis
50+ built-in indicators, tools and forex charts for technical analysis, quotes history centre, strategy tester and news, all designed to help you increase your forex trading knowledge.
Set measurable goals in the volatile forex market
Whether you’ve been trading for a year or have decades of experience behind you, it’s vital to set yourself quantifiable goals. That could be achieving a 20% annual return on your investment or getting a total of 100 pips a month. Whatever your goal, it’s easy to measure your performance using the best forex broker in Australia, FXOpen.
How does forex trading work?
The risks and rewards of the forex market
Another of the key risks to consider is that some forex pairs are much more volatile than others. Pairs that include USD are also often in high demand making them more liquid than others. It is important to note that no return is guaranteed. Future returns may differ from past returns and investors may lose some or all of their money invested.
If you’re aware of the risks and take steps to mitigate them, the forex market can be very rewarding. However, to gain the rewards you may be looking for, you need to have a full understanding of all risks involved in trading and the forex market.
Expert trading for expert traders
FXOpen is one of the best forex trading platforms in Australia, with a range of major, minor and emerging currency pairs for you to go long or short on. We also provide forex charts and other useful tools like an economic calendar. Why not get in touch with our team today to access a live account. Offering you the ability to trade in over 50 forex markets, 24 hours a day from Sunday night until Friday night, discover for yourself why so many experts trade with FXOpen.
Why do people trade forex?
People trade on the forex market for several reasons. The foreign exchange markets are the largest and most liquid financial markets in the world, making them immensely popular among forex brokers and traders. Forex trading exploded in popularity because of its leverage, continual trading opportunities, high liquidity and low entry costs.
What is a forex broker?
After the 1970s, when the United States dropped the Bretton Woods agreement regarding the USD convertibility in gold, the foreign exchange market grew dramatically. First available only to institutional players due to the high transaction costs and difficulty to access, it all changed when the internet and online trading appeared. Forex brokers made it possible for the retail trader to join the largest financial market in the world.
A forex broker is an intermediary link between the trader and the market. It offers market quotes via its various liquidity providers, and its trading platform reflects the best possible conditions it has to offer to its customers. For this, it charges a fee or a commission, and its interests align with those of the trader.
Brokers are organised as either a dealing desk (also called market makers) or a non-dealing desk. A dealing desk creates a market by mirroring the quotation from the interbank market and deals the prices to its clients. In non-dealing desks, forex brokers route their clients’ orders to the liquidity provider, and the best quote is offered to retail clients from the liquidity pool.
Brokers organised like non-dealing houses often offer ECN (Electronic Communication Network) or STP (Straight-Through Protocol) execution. However, different types of forex brokers exist, mixing dealing with non-dealing conditions, and operating as hybrid entities.
Depending on the type of the brokerage house, different account types exist. ECN accounts and STP accounts are just a couple of examples.
What factors move the forex market?
Because the forex market is made up of currencies from across the globe, predicting exchange rates is difficult as there are a number of factors that constantly move prices. The main driving factors for these moves are central banks, news reports and market sentiments. Understanding how each of these operate will help you on your trading journey.
It’s also important to remember that prices move up and down based on supply and demand, just like any other financial market. As a forex trader, you’re likely to either choose to put your money into an economy that has strong growth potential or short a market.
How to define success as a forex trader?
No matter if you’ve been trading forex for a short or long time, defining your success will help you to become an expert trader. Think about what you want to achieve from it and how you personally define success.
Setting goals is vital and these should be easy to measure. It’s also recommended you set a target that can be achieved over a long timeframe, annually for example, as opposed to monthly. Once you’ve established these factors, you’ll be able to put your action plan into work.
Regardless of how experienced you are, it’s important to always manage your expectations throughout the forex trading process and control your emotions. To become successful with forex in Australia or elsewhere, you must understand the mechanics of the forex market, trust your analysis and follow the rules of your forex trading strategies.