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The foreign exchange market has an estimated daily trading volume of approximately US$ 5 trillion, making it the world’s largest and most liquid financial market. By investing in foreign currencies through the WCG foreign exchange margin trading platform, you can participate in this exciting part of the financial world, get immediate institutional market prices, and 24-hour uninterrupted transactions. WCG foreign exchange trading account meets the different investment needs of users. New investors can also try our free demo account to experience the fast and easy-to-use MT4 trading platform.
Foreign exchange currencies always appear in pairs, for example: EUR/USD, GBP/USD, USD/JPY.
In foreign exchange trading, you can either buy (long) or sell (short). However, when you trade foreign exchange currency pairs online, you are not buying or selling real currencies. Your operation is actually a bet on the rise or fall of a currency pair. The rise or fall of a currency is actually a rise or fall relative to another currency.
Through WCG, you can trade direct and cross currencies, the minimum capital for opening an account is only US$ 100.
Unlike other financial markets, the foreign exchange market does not have a fixed central exchange or physical location. A 24-hour global network of foreign exchange transactions is formed by banks, large companies and individual traders. This means that foreign exchange rates fluctuate 24 hours a day, providing many trading opportunities.
Judge the market as an upward trend, hold it after buying a financial product, and wait for it to rise before selling, to earn the intermediate spread.
Anticipating that the market will fall, sell the chips in hand and buy after the price drops; in short, it means selling first and then buying.
Join a 24-hour global network of foreign exchange transactions composed of banks, large companies and individual traders
In WCG, we provide you with a wide range of products including direct and cross currency pairs. New traders often start trading with the currency pair they are most familiar with, and then look for trading opportunities in other currency pairs that are not so familiar.
After choosing your trading products, you should decide whether to buy or sell by speculating on the future direction of the market. A foreign exchange currency pair is composed of two currencies. The currency on the left hand side is called the “base currency” and the currency on the right hand side is called the “quote currency”. Therefore:
–If you think that the base currency is stronger than the quote currency, or the quote currency is relatively weaker than the base currency, then buy this currency pair.
–If you think that the base currency is weaker than the quote currency, or the quote currency is relatively stronger than the base currency, then sell the currency pair.
The purpose of setting stop loss/take profit is to lock the profit or loss of the position.
Before the position is closed, your profit and loss will change with price fluctuations.
So real-time monitoring your profit and loss is very important. By monitoring the situation, you can add or close positions immediately when needed.
It is extremely important for FOREX investors to timely close their position when identifying different phases of market movements.
Failing to do so are sometimes costly, in particular when the market moves against them.
Foreign exchange quotes generally have five decimal places. Among them, the fourth decimal place is the one that requires the most attention. We often use pips to calculate profit and loss. Foreign exchange trading volume is generally counted in “lots”, and 1 lot is equal to 100,000 base currency units. You can also trade units smaller than 1 lot, such as mini lots or micro lots. Mini lots correspond to 10,000 currency units (0.1 lots), and micro lots correspond to 1,000 currency units (0.01 lots).
You can utilize leverage to open a position larger than your capital amount. This approach may lead to more profits or losses. Therefore, it is very important to manage risks when conducting foreign exchange transactions.
When trading foreign exchange online, you can decide the size of your open positions. Deposit a suitable amount of funds according to your own situation to participate in the transaction.
From Monday morning to Saturday morning, the foreign exchange market is always open for trading. This makes the foreign exchange market an ideal trading market for amateur traders.
