Understanding Forex Trading Gives You the Best Experience

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Understanding Forex Trading


Forex trading is the buying and selling of various global currencies. Currency is always traded in pairs; one currency is traded for another. The Forex market is the largest market in the world in terms of trade volume.  


Forex trading can seem very confusing at first; the idea of trading currencies is often harder to understand than trading stocks. Stocks are tied to a company and its success, but Forex trading is essentially the act of purchasing stock in a particular country and its economy. The strength of each country’s currency is directly affected by both the current state and future expected state of that country’s economy.


A pip is known as the smallest movement (either positive or negative) that is possible between a currency pair. The bidding price is the specific price where an investor can either buy or sell a currency pair. The ask price is the particular price where a seller is willing to sell a currency pair. The difference between the bid price and the ask price is known as the spread. Forex brokers generally refrain from charging commissions and instead make money off the spread between currency pairs.


Investors typically buy and sell on the Forex market with the help of a Forex broker. The Forex broker provides access to the market and works to match up buyers and sellers so that transactions can take place.


Who Can Trade on the Forex Market?


Anyone can trade on the Forex market. The Forex market provides exciting trading opportunities for investors of all sizes, from large banks to new investors. It is possible to start trading in the Forex market with smaller sums of money; the top Forex brokers will have the platform and trading tools available to accommodate investors of all sizes.


Finding the Top Forex Trading Brokers


Whether you are new to Forex trading or a seasoned Forex trader, finding the top brokers will greatly enhance your experience. Here are some things to consider when looking for Forex trading services:

  • Customer service – brokers who are focused on customer service provide a better overall trading experience. This includes providing personal, yet professional, services with up to 24-hour support available. The top brokers understand that providing exceptional customer service is essential to creating long-term relationships with clients.
  • Straight Through Processing (STP) – the ability to conduct the entire trade process electronically. This means that trades are executed directly through to the market and do not pass through a dealer.
  • Low spreads – every trade involves paying a spread. Finding a broker with consistently low spreads means more potential profit for every transaction. Some brokers offer spreads from as low as 0.1 pips.
  • Secure and regulated – ensure the safety of your investment with a brokerage company that is fully authorized and regulated by the FCA.
  • Multiple trading platforms – having access to multiple trading platforms (PC, Mac, or mobile) makes it possible to trade at any time, wherever you are.
  • No requotes – some brokers may not be willing or able to complete a trade at the particular price that was entered due to market changes. This can result in a requote.
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