Forex Trading
What is the forex market?
The foreign exchange market is the largest and most liquid market in the world, turning over roughly 7.5 trillion US dollars each day. It has no central exchange: trading takes place over the counter between banks, funds, corporates and brokers across a 24-hour cycle that opens in Sydney and closes in New York.
Why traders choose currencies
Deep liquidity means tight spreads and reliable fills even in size. Currency pairs also respond to a comparatively small set of drivers — interest-rate expectations, growth data and risk appetite — which makes them tractable to analyse.
How a currency trade works
Every quote prices one currency against another. Buying EUR/USD is simultaneously a long position in the euro and a short position in the dollar; your profit or loss is the change in that relationship multiplied by position size.
Session hours (GMT)
- Sydney 22:00 – 07:00
- Tokyo 00:00 – 09:00
- London 08:00 – 17:00
- New York 13:00 – 22:00
- Peak overlap 13:00 – 17:00
Representative pairs and spreads
| Pair | Category | Typical spread | Swap long | Swap short |
|---|---|---|---|---|
| EUR/USD | Major | 0.6 pips | -0.42 | +0.11 |
| GBP/USD | Major | 0.9 pips | -0.38 | +0.06 |
| USD/JPY | Major | 0.8 pips | +0.21 | -0.64 |
| AUD/CAD | Minor | 1.8 pips | -0.29 | -0.04 |
| USD/TRY | Exotic | 28 pips | -14.80 | +3.20 |
Swap values are indicative points per standard lot and are reviewed daily.
Placing your first currency trade
- 01
Choose the pair
Start with a major. Tight spreads and predictable liquidity make position sizing easier to learn.
- 02
Size the position
Risk a fixed percentage of equity per trade — one percent is a common professional ceiling.
- 03
Set the exit first
Attach stop-loss and take-profit levels at order entry, before the position is live.
- 04
Review the outcome
Log every trade with its rationale. Patterns in your own behaviour are the highest-value dataset you own.
Trade 61 pairs from 0.6 pips
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74–89% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.