Forex, also known as Foreign Exchange or the foreign exchange market, refers to the market where different currencies are traded. This market is the largest and most liquid financial market in the world, with a daily trading volume of billions of dollars.
Traded around the clock on 3 global markets – Asia, Europe and the Americas – the FX exchange is the world’s largest market with liquidity of $5.3 trillion per day. Currencies are linked and exchanged at a specific price, it is this price that moves as each currency is affected by world events. You will find 40 currency exchange pairs on Hero Markets, divided into the popular groups of majors, minors and exotics. The difference with Hero Markets is that you can trade forex while using powerful tools like Events & Trade to spot market movements. We also support forex trading with education, daily news, price alerts and trade alerts online and through the platform.
You will be informed regularly about market movements, relevant events, trends and basic statistics.
*The company reserves the right to widen spreads, reduce leverage, increase margin requirements, control maximum order amounts and limit clients’ total exposure. To see the current overnight rollovers for instruments traded on WebTrader, click on the instrument in the table above. For full list of instruments click here.
** The above prices are only for indicative purposes
*** Quotes are delayed
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What is Forex?
In the forex market, participants buy and sell currencies with the aim of taking advantage of fluctuations in exchange rates. This can include individuals, companies, financial institutions, investment funds and central banks.
What are the most common currencies?
The most traded currencies include the US dollar (USD), euro (EUR), Japanese yen (JPY), British pound (GBP) and Swiss franc (CHF). The currency market operates around the clock, except on weekends, due to different time zones around the world.
What are currency pairs?
Trading in currencies takes place in currency pairs, where the value of one currency is expressed in relation to another. For example, in the EUR/USD currency pair, EUR represents the euro and USD represents the US dollar. If an investor believes that the euro will strengthen against the dollar, they may buy the EUR/USD currency pair in the hope of selling it later at a higher price and making a profit.
The Forex market offers opportunities for speculation, investment, hedging currency risk and international trading. However, it is also associated with significant risk due to the rapid fluctuations in exchange rates. As such, it is important for participants to understand the market well and implement appropriate risk management strategies.
At Hero Markets, you can trade Forex easily and choose from 40 currency pairs that you can trade, both in the app and on PC/Mac.