Cryptocurrency trading, commonly known as Forex or Forex trading, has gained great popularity among ordinary people due to the growth of brokerage firms and the development of electronic trading platform technology.
With high liquidity, continuous business hours of up to 5 days a week, and great opportunities, it’s no surprise that the forex market is the largest global trading market with trading volumes in excess of $ 5 trillion per day.
Forex trading is one of the most attractive and enjoyable things to do, especially for the retailer, and despite all of these advantages the market offers, the risk is very high and can result in losing all of your money you can afford to lose .
What is Forex Trading? / Forex trading
When you trade forex, you are buying one currency for another so that the forex trader is speculating on a currency pair rather than just one currency.
Where currencies are traded in pairs in the foreign exchange market, such as the pound sterling versus the US dollar, the US dollar versus the euro, with the aim of making profits through the spreads.
The prices of currencies in the foreign exchange market are determined based on the supply and demand rates, while the price difference between them is called the “spread”.
Find out more about the most popular currency pairs in the Forex world:
The euro / US dollar is denoted by the symbol (USD / EUR).
The British pound / US dollar denoted by the symbol (USD / GBP).
The US dollar / Japanese yen is denoted by the symbol (JPY / USD).
Euro / Japanese Yen (JPY / EUR).
The New Zealand dollar / US dollar is denoted by the symbol (USD / NZD).
The foreign exchange market has a very wide range of currencies in the world, and the foreign currencies in the market are divided into: major currencies, minor currencies, and western pairs, the major pairs include the 7 most common pairs mentioned above, while the minor pairs are the major currencies acted. In addition to the US dollar, the western pairs have a major and minor currency such as USDNOK and EURTRY.
The trading price of a currency pair is the value of the quoted currency that you can buy for one unit of base currency.
Take, for example, the EURUSD currency pair. When you buy this currency pair, it means that you are buying (selling) the euro with the US dollar.
When you sell a currency pair, it means that you are buying (selling) US dollars with the euro.
Currency pairs are displayed as prices that reflect the relationship between the values of the currency pair.
For example, the purchase price of the British pound against the US dollar is 1.50514, which means that every 1 British pound is equal to 1.50514 US dollars.
Groups of forex currency pairs
Forex currency pairs are divided into three main groups: major currency pairs, minor currency pairs, and non-tradable currency pairs.
The main difference between the pairs is their liquidity, which is caused by the trading volume of these currency pairs.
Example: Major currency pairs are the most widely traded currency pairs, and each pair includes the US dollar and one other currency, while minor currency pairs include one of the three currencies that do not include the US dollar (Euro, British Pound, and Japanese Yen).
To learn more about Forex trading or anything about Forex investing, we recommend you visit the Education section as it is where you will find terminology, video trading tutorials and webinars.
Why is AvaTrade considered one of the best forex brokers
Working with an internationally regulated forex broker is one of the most important things these days and AvaTrade is one of the internationally regulated brokers online with many solutions in case you encounter any problem.
Competitive spreads in forex trading
Every trader should monitor their trading costs first to improve their profitability as the main goal of Forex trading is to make a profit while avoiding risk. Because of this, AvaTrade has signed an agreement that allows you to trade financial assets with competitive margins, adding leverage up to 20: 1 for currency pairs.
Excellent customer service:
Customer convenience with AvaTrade is one of the most important things that the company cares about first and foremost. Since we offer customer service in your language, you can also use it on our website on Facebook, Twitter and YouTube to get all the news about the market.
How to open a trading account with AvaTrade
First go to the main page and click on “Register now”. A window will appear with your details such as your name and e-mail address, which you must enter. You can also register via Facebook or Google accounts, what The quick way to register is very practical.
After the registration process, you will receive your access data and will be asked to verify your account by uploading a copy of your ID.You can then fund your trading account and start trading.
How can you trade forex with AvaTrade
Forex trading platforms
AvaTrade offers a wide range of trading platforms, both manual and automated, with unique features and tools to customize your trading experience.
Whether you are interested in trading on your account or imitating others, our optional collection is for everyoneRajmin to make sure you find the right option for you.
We also offer the ability to open a demo account on each platform so that you can practice trading on your chosen platform to master your trading skills before actually starting to trade your money in the market.