What is Forex?

Forex (foreign exchange or FX) is, in simple terms, the largest financial market in the world in which individuals, companies and financial institutions can exchange global currencies for one another at changing rates. The forex market is the largest market in the world with an average daily trading volume that exceeds $5 trillion.

The decentralised, foreign exchange market is open from Sunday night through to Friday night 24 hours a day, with a wide arrange of currencies being traded at any given time by traders looking to take an advantage of the rate fluctuations.

There are hundreds of currency pairs that can be traded. The most traded pairs are known as the “Majors”. The majors are comprised of the following currencies: US Dollar, Great British Pound, Euro, Japanese Yen, Canadian Dollar, Swiss Franc and the Australian Dollar. The other currencies are referred to as the “Minors” and include currencies like the Norwegian Krone, Mexican Peso, the Polish Zloty and many more.

What is Forex CFD Trading?

Forex trading is the act of trading one global currency for another. As currency exchange rates are constantly changing, traders attempt to earn a profit from the differences and changes in the prices of currencies. As a Forex/CFD trader, you can speculate if the price of currency will rise or fall in comparison to another, and choose whether to buy or sell a specific currency for another.

For Example:

Currency pair: USD/GBP

The first currency of the pair is known as the “base currency”, the second is known as the “counter currency”. In this example, the base currency is the USD and the counter currency is the GBP. If you believe that the USD will rise against the GBP you would choose to buy (known as “go long”), but should you believe that the USD will drop against the GBP you would choose to sell (known as “go short”).

Unlike you did historically, you no longer have to leave your house in order to trade Forex and potentially earn money from the price fluctuations of currencies. Using advanced, easy to use technology, traders are able to trade CFDs of currency pairs from a home computer, tablet or smartphone. At PatronFX, you will find a large array of different Major and Minor currencies to trade CFDs on.

 

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Company Information: This website (www.patronfx.com/eu) is operated by Forex TB Limited, a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission with CIF license number 272/15. Forex TB Limited is registered at 45A Kratinou Street, 2040 Strovolos, Nicosia, Cyprus.

 

Forex TB Limited owns and operates the “PatronFX” brand.

 

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. PatronFX does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Forex TB Limited is not a financial adviser and all services are provided on an execution only basis. Please read our Risk Disclosure document.

 

Regional Restrictions: Forex TB Limited offers services within the European Economic Area (excluding Belgium) and Switzerland.

 

Forex TB Limited does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Forex TB Limited is not a financial adviser and all services are provided on an execution only basis.

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