At FXCM, we strive to give you the best trading experience. We offer access to the global forex trading market, with intuitive platform options, including our award-winning Trading Station. We also provide forex education, so whether you're just getting started in the exciting world of forex trading, or you just want to sharpen the trading tools you've developed over the years, we're here to help. Our customer service team, one of the best in the industry, is available 24/5, wherever you are in the world.
Interestingly, the emergence of cryptocurrencies and digital assets have provided a viable alternative to traditional foreign exchange services like remittances. Digital assets are also expected to become more ingratiated with the conventional financial system, and the expansion of trading pairs of many digital assets serves as a stark indicator of their inclusion within the financial portfolio and investment services of brokers.
The spot market is where currencies are bought and sold at their current market price. The prices of currencies fluctuate consistently, many times by only a tiny fraction of their current value. A mixture of economic, political, and supply/demand affect the price of currencies, and markets are exceptionally liquid for primary trading pairs around the world.
One of the best ways to learn about forex is to see how prices move in real time and place some trades using fake money by using an account called a paper-trading account (so there is no actual financial risk to you). Several brokerages offer online or mobile phone app-based paper trading accounts that work exactly the same as live trading accounts, but without your own capital at risk.
To make a profit while Forex trading online, you need the market to move in your favour. You can help your chances of this by analysing the market in various ways. Technical analysis involves trends, historical data and current market movements. It’s more statistically focussed in examining charts and indicators. Alternatively, you could look at fundamental analysis, which focuses more on important economic events and announcements that may influence the market. Whichever type of analysis you decide to follow, you should look to build a formulated Forex trading strategy, incorporating wise decision making and appropriate money and risk management. The sum of your profit depends on the efficiency of your trading strategy, on how well you learn to predict market movements, your risk management strategy and on the amount you choose to deposit.
The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with an average traded value of around U.S. $2,000 billion per day. (The total volume changes all the time, but as of August 2012, the Bank for International Settlements (BIS) reported that the forex market traded in excess of U.S. $4.9 trillion per day.)