FXOpen: Forex trading for the experts
Advantages of forex trading with FXOpen
One platform with multiple instruments and markets
With us as your broker, you can use one platform for forex trading as well as for indices, commodity CFDs and cryptocurrency CFDs.
You're trading with a true ECN broker
trusted by more than 1 million traders worldwide.
to your individual trading style and strategies, meaning you are in complete control of your trading.
Access to automated 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
via the desktop, web-based or mobile version of the MT4 trading platform.
Access to a wide range of analysis
50+ built-in indicators and graphic tools for technical analysis, quotes history center, strategy tester and news, all designed to help you increase your trading knowledge.
Setting measurable goals in a volatile market
Whether you’ve been trading for a year or have decades of experience behind you, it’s vital to set yourself quantifiable goals before you begin. That could be achieving a 20% annual return on your investment or getting a total of 100 pips a month – whatever your goal, it should be easily measured.
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, and pairs that include USD are often in high demand making them more liquid than others.
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 and profits 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 at FXOpen
FXOpen is one of the best forex trading platforms, with a range of major, minor and emerging currency pairs for you to go long or short on, as well as 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 a number of different 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
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
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 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 a successful trader, you must understand the mechanics of the forex market, trust your analysis and follow the rules of your forex trading strategies.