The foreign exchange market (Forex) is the market in which international currencies are traded. Every country has its own currency, except for the Eurozone. All members of the Eurozone have the same currency: the euro.There is no centralised place where trading takes place, such as the New York Stock Exchange. Trading on Forex is decentralised and takes place everywhere in the world, making Forex unique. The average daily turnover on Forex amounts to 4.0 trillion USD.
Forex exchange rate moves constantly and reflects changes in sentiment around the world due to economic or political news and the physical transaction volume taking place. It trades 24 hours a day, five days a week. With forex, there are always trading opportunities, whether a currency is strengthening or weakening in relation to another currency. Thus, you can make profit on Bi-directional forex trading.
Forex offers more advantages compared to other markets:
- Trading everywhere in the world;
- Huge trading volume that means more liquidity;
- 24 hours a day trading except Saturday and Sunday;
- Large movements of the exchange rates make larger profits possible;
- Possibility to use leverage to enhance the trading size of each transaction.
Trading Forex with TeleTrade
- Trade more than 50 products include currency pairs and Precious Metals such as Gold, Silver, oil, and index on TeleTrade MT4.
- Offer commission free online trading with competitive spreads. > Know more about Forex Spreads
- With up to 1:500 leverage maximizes your investment return. Customers can adjust itself based on trading strategy and risk appetite. > Know more about Leverage