Fuel your investment portfolio by entering the Forex market, one of the most volatile and potent trading environments in the world. Enter the exciting market settings with confidence, equipped with essential tools for online trading.
Many traders all over the world cherish the Forex market due to its inherent unpredictability and occasional turbulence caused by changes in geopolitical, economic, and environmental situations.
Let’s start with some basic facts: Forex is an abbreviation of foreign exchange, a term signifying the trading of currencies against each other. Currency pairs are better known in the trading world as their respective three-letter codes combined. For example, if you intend on trading Euro against the US Dollar, you will be trading the EUR/USD pair.
Currency pairs are divided into three main groups – major, minor, and exotic, based on the share of the global exchange market they constitute. The majors include only seven pairs, yet they constitute 85% of the trading volume, and therefore, they exhibit high market liquidity. Currency pairs that are traded less called minors. Exotic pairs are the most thinly traded pairs, and they aren’t widely used in global transactions. However, many experienced traders consider exotic pairs to be a valuable addition to their portfolio due to the combination of high volatility and low liquidity.
The Forex market is traded in an average volume of over $5 trillion a day. Its action is easy to follow as it appears on every financial website and newscast and generates public opinions from many market pundits. Together with shares, it’s an asset class that might be easier to trade, as it is more accessible to any trader who performs some research. Yet keep in mind that it presents fantastic opportunities alongside riskier endeavors.
Modern traders choose the Forex market for its enormous daily turnover, high liquidity, and potential for profit in the short-term. At ByteCapitals, we offer widely popular trading tools called CFD (or Contracts for Difference), which allow to speculate on the price of a forex pair in either direction, potentially capitalizing on both a bullish and a bearish market.
We want our traders to reach furthest, and we put our focus on equipping you with all the gear you need to embark on a challenging quest of taming the wild forces of the market – from education to analysis tools to news alerts and much more. Ready to become a Forex frequent flyer?