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What is Forex?

Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion. All the world's combined stock markets don't even come close to this. But what does that mean to you? Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments.

Powerful trading platforms

Trade on a suite of powerful trading platforms designed to meet the demanding needs of active traders looking for maximum performance, flexibility and speed. gmcforex

 Forex Demo Account

Open an ORBEX MT4 Forex Demo account and benefit from our valuable marketing offers and promotions. ORBEX looks forward to assisting you and wishes you a pleasant and successful experience. To help us meet your needs, please provide us with the following information:

FX Trading steps

1. Choose a currency pair. Decide which currency pair you wish to trade. ...
2. Decide on the type of FX trade. There are three ways to trade forex with City Index Spread Betting, CFD or Forex Trading. ...
3. Decide to buy or sell. ...
4. Adding orders. ...
5. Monitor and close your trade. ...
6. Closing your trade.

Trading forex (currencies) in the United Kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the Financial Conduct Authority (FCA), which is the financial regulatory body in the UK.

Although you might be a short term trader, you should aim to have longevity in your process. So to answer your question – Does forex trading really work = Yes, but its not for everyone. Think of your trading as a career or business and not a hobby, that's the quick way to lose a lot of money.

ll forex trades involve two currencies because you're betting on the value of a currency against another. Think of EUR/USD, the most-traded currency pair in the world. EUR, the first currency in the pair, is the base, and USD, the second, is the counter. When you see a price quoted on your platform, that price is how much one euro is worth in US dollars. You always see two prices because one is the buy price and one is the sell. The difference between the two is the spread. When you click buy or sell, you are buying or selling the first currency in the pair.

Forex explained

The aim of forex trading is simple. Just like any other form of speculation, you want to buy a currency at one price and sell it at higher price (or sell a currency at one price and buy it at a lower price) in order to make a profit.

Some confusion can arise as the price of one currency is always, of course, determined in another currency. For instance, the price of one British pound could be measured as, say, two US dollars, if the exchange rate between GBP and USD is 2 exactly.

In forex trading terms this value for the British pound would be represented as a price of 2.0000 for the forex pair GBP/USD. Currencies are grouped into pairs to show the exchange rate between the two currencies; in other words, the price of the first currency in the second currency.

Some commonly traded forex pairs (known as ‘major’ pairs) are EUR/USD, USD/JPY and EUR/GBP, but it is also possible to trade many minor currencies (also known as ‘exotics’) such as the Mexican peso (MXN), the Polish zloty (PLN) or the Norwegian krone (NOK). As these currencies are not so frequently traded the market is less liquid and so the trading spread may be wider.

Forex is a decentralized market, in which dealers distribute their own price feeds through proprietary trading platforms. As such, it's important to learn the features of each type of trading software before using real funds in an account. Open a demo account and paper trade until you can make a consistent profit.

For many traders, just the theoretical knowledge about Forex trading may take about 3–6 months, depending on how quickly you understand things. But you also need to learn many things by experience which may take about one year.

We offer access to the global forex trading market, with intuitive platform options, ... FXCM UK offers tax exempt spread betting accounts exclusively to UK and