The Forex Market is where people buy, sell, and exchange the world’s currencies. Banks, commercial companies, central banks, investment management firms, hedge funds, retail forex brokers, and investors all make up this market. Explained in simple terms, in the forex market the exchange of one currency for another takes place.
This market is the largest financial market globally, with a daily turnover of more than $6 trillion in transactions.
The market is extremely volatile, and this volatility is the result of various geopolitical changes that occur in the world daily. Apart from this, countries’ economic conditions, medical or scientific advancements, agricultural changes, wars, and many other factors also influence the market and its movements.
Forex Market is traded in currency pairs. For Example– Let us take EUR/USD as a pair, the first currency is the base, and the second is exchange/quote/term currency.
EUR/USD=1.11700 currency pair. This means that you will have to pay 1.11 US dollars for 1 euro.
Trading in the FOREX or Foreign Exchange Market can be done by anyone provided you know about the market’s functioning.
XFlow Markets also provides a trading platform to private as well as commercial clients.
The primary currency trading pairs available in the market are listed:
Forex Markets has a daily turnover of $6 trillion. Since the market is not under any organization, it is nearly impossible to influence or control the market. The exchange of currencies is done globally by millions to gain profits and good returns.
Forex is also an Over the Counter (OTC) market and has no central exchange, making it an accessible platform for trading currencies of the globe.
This market’s various benefits make it very enticing for traders so much that the other markets and their prospectus seem very ordinary.
These are the various benefits of Forex Trading:
The market is open 24 hours for 5 days of the week, where traders can buy, sell, or exchange from any part of the world, at any given time. The Forex Market is only closed on the weekends (Saturday and Sunday).
Leverage is the exposure for your money. Leverage is significant for trading, and at XFlow Markets, you will receive a 1:1000 Leverage! Simply put, this means that for every $1 in your account, you can trade it $1000 times. Our leverage bracket starts from 1:400, and only goes higher!
XFlow Markets provides discrete electronic transactions. There is no involvement of a third party in any of our transactions.
Due to traders' and investors' active participation, Forex Market is one of the world's most liquid markets. The exchange of currencies takes place in high volumes and at extensive levels.
Trading in the Forex markets helps you choose whether to buy or to shorten currencies.
XFlow Markets does not charge any commission or in between charges from the clients. This means that there is zero government fee, zero clearance fee.
Since there is an overwhelming number of investors and speculators, it is impossible to manipulate the market. No single body or organization can regulate the Forex Market; not even the Central Bank can do this.
There is 100% transparency in every one of our transactions. All transactions are recorded and stored from our side. Furthermore, clients will also get all receipts or transaction proofs sent to their registered mail address.
XFlow Markets will make sure that your Forex trading and overall experience with us is effortless and smooth. All those who wish to try their hand at Forex Trading can start using the XFlow Markets free Demo Account.
This will help you understand the basic concepts of Forex trading, and find out which Forex strategies will help you get better returns than the others, and study how to trade from our experienced professionals.
Below is the list of benefits you will receive when you start trading with XFlowMarkets.
Forex (acronym of Foreign Exchange) is where trading of currencies is prevalent on large platforms in order to improve foreign trades and businesses. This market is the most liquefied financial market filled with large number of investors and speculators. The size of other markets is dwarfish compared to the Forex Market. The most prominent reason for Forex market to be such a success is the requirement to trade currencies and since the market is full of activities, the average turnover it is around $5.3 trillion per day.
Currencies are at all times traded in pairs, i.e., buying of one currency and selling of the other. These are always cited in pairs such as Euro/US Dollar, US Dollar/Japanese Yen, Great British Pound/US Dollar, and US Dollar/Canadian Dollar. Trading of currencies is from across the world but the main financial centers are Frankfurt, Zurich, Tokyo, Hong Kong, Singapore, Paris, London, New York and Sydney.
Forex market is live 24 hours a day for five days of a week. It is necessary that one knows about the trading hours according to the preferred country. This market is an active circle with one market opening and another closing, thus making it awake for the entire 24 hours. Due to the dissimilarities in trading hours, people living at different parts of the globe can easily indulge in trading.
The Forex market is risky in its nature but one can start trading at a mere $500. An increase in leverage, implies that there will be an increase in chances of risk.
There is no such central location of Forex market because the market is open for 24 hours a day, trading is done globally.