Welcome, we’ll show you how forex works and why you should trade it. No matter your skill level, we have videos and guides to help you https://www.ig.com/en/forex take your trading to the next level. Your FOREX.com account gives you access to our full suite of downloadable, web, and mobile apps.
- Our traders can also use the WebTrader version, which means no download is required, while the MT apps for iOS and Android allow you to trade the markets on the go, anytime and anywhere.
- Online trading platforms provided by global brokers like FXTM mean you can buy and sell currencies from your phone, laptop, tablet or PC.
- IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.
- Research your forex strategy — You shouldn’t just go buy pounds, loonies, or yuan based on a gut feeling.
- Profit on international economic news — News and statistics enthusiastic can develop trading strategies around news releases, elections, and other current events.
- Fundamental trading is when you follow the news for several countries and play the countries with strengthening economic trends, against the ones with weakening economic trends.
Currency markets work via a global network of banks, business and individuals that are constantly buying and selling currencies with one another. Unlike most financial assets – such as shares or commodities – the foreign exchange market has no physical location and trades 24 hours a day.
Essential components of currency pair trading
The difference to the bar charts is in the ‘body’ which covers the opening and closing prices, while the candle ‘wicks’ show the high and low. This means they often come with wider spreads, meaning they’re more expensive than crosses or majors. It is the smallest possible move that a currency price can change which is the equivalent of a ‘point’ of movement. This often comes into particular focus when credit ratings are upgraded and downgraded. A country with an upgraded credit rating can see its currency increase in price, and vice versa. A country’s credit rating is an independent assessment of its likelihood of repaying its debts. A country with a high credit rating is seen as a safer area for investment than one with a low credit rating.
Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. He has previous experience as an industry analyst at an investment dotbig reviews firm. Baker is passionate about helping people make sense of complicated financial topics so that they can plan for their financial futures. The offers that appear on this site are from companies that compensate us.
Global stock markets – in for a mauling, a global recession seems likely
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