Join the world's largest financial exchange market and start earning by trading with the major market participants.
What is Forex?
Forex (Foreign Exchange market) is the world's largest financial market where different currencies are exchanged against each other. Daily volumes in the Forex market are around $6 Trillion. To put the size of the Forex market in perspective, the New York Stock Exchange (NYSE) only does around $30 Billion of transactions in a day.
The major participants in the Forex market are commercial and central banks, large corporations and hedge-funds. However, you do not need to have millions or even thousands of dollars to start. Due to leverage and marginal trading, you can start trading with just $300 or £200 and enjoy the same trading conditions as the large market players.
Unlike stock and futures markets, Forex does not have an actual exchange or central location where trading takes place. Banks and other market participants are connected to each other via electronic communications networks (ECNs) and Forex trading continues 24 hours a day, 5 days a week from Monday to Friday. This decentralized structure allows traders to buy and sell currencies without extra fees and commissions and also provides access to trading anytime and from anywhere in the world.
Reasons to choose Forex:
- Deep liquidity and tight spreads. As an ECN Broker we offer quotes from major banks, other ECNs and liquidity providers to provide our clients with the best possible prices and very low spreads.
- Trade anywhere, anytime. The Forex market trades 24 hours a day from Monday to Friday and FXOpen provides support 24 hours a day.You can choose when to trade as the European, US and the Asian trading sessions follow on from each other providing trading opportunities 24 hours a day.
- You can trade with as little as $300 Starting deposits in Forex are considerably lower than in other financial markets. Leveraged (or marginal) trading used in Forex lets you operate funds many times larger than your deposit.
- No conflict of interest The ECN model allows you to trade with other market participants not against your broker. To execute your order, the ECN Aggregator will find a matching opposite order (same price and available volume) from another market participant. FXOpen charges a small commission for transferring your order to the ECN and finding a match for it. With this business model, the broker is not trading against you and does not profit when you lose. On the contrary FXOpen wants the client to be a profitable trader so they can establish a long and profitable business relationship together.
- Go long or short With stock markets you can usually only make money if you pick a stock that goes up. In the Forex market you can go long (buy) or go short (sell) and so take a view on if you think the market will go up or down.
- Education and training for beginners FXOpen provides you with demo-accounts, video tutorials, news, charts and market analytics so that you can practice your trading skills before risking real money.
- Automated trading: You do not have to spend long hours in front of your computer studying charts and following all the price movements. With automatic indicators and signals you will be notified immediately of any important events or trend reversals. You can also take advantage of expert advisors, that are based on your own or somebody else's proven trading strategy. An Expert Advisor trades automatically without your participation.
To join the Forex market, all you need is:
- A computer, smart phone or tablet with high-speed Internet
- A trading terminal or an App
- An FXOpen account