Success, in forex, comes from making good trading decisions. But as a new trader, how do you know which currencies to trade? In this article, we’ll cover the eight major currencies in forex. What are Major Currencies in Forex? “Major currencies” are the most profitable currencies for trading in forex. They have the highest liquidity and as such are traded more regularly. All currencies are denoted using ISO-4217 symbols. Here are the symbols for all the major currencies: USD = the US DollarEUR = the EuroGBP = the British Pound Sterling JPY = the Japanese YenCHF = the Swiss FrancCAD =…
Author: Kent
Kent
Kent has been working in the FX industry since 2012, and has become a successful, experienced forex expert. He is a regular contributor to our website and provides exclusive insights into the financial markets.
When you’re just starting out, all the new terminology can be a bit confusing. But don’t worry, we’re here to help. Today we’ll be looking at the terms people use to describe different trading positions. What is a Long Position? As you know, forex trading involves buying one currency and selling another. A long position is taken when a trader buys a currency expecting it to appreciate in value against the other currency it is paired with. This can also be referred to as “going long” on a trade. It is simply buying the base currency and selling the quote…
Note: This broker has merged with M4 Markets. Axiance is offering its clients a special rebate bonus. The promotion starts September 1st 2021. It is available to both new and existing clients. How The Rebate Bonus Works Axiance awards each bonus on a case by case basis. The bonus you receive depends on your account type and your deposit size. To qualify for a rebate bonus on their Standard Account, you need to make a $2,500 minimum deposit. This will make you eligible for a bonus of up to 50%. The maximum rebate bonus offered per client is set at…
When it comes to forex trading, drawdown is the difference between balance and equity from peak to trough. Keeping the drawdown as low as possible is part of risk management. A higher drawdown means higher risk and a higher probability of wiping the account, whereas a lower drawdown means lower risk and a lower risk of incurring losses. Drawdown shows the maximum risk occurring on the trading account and indicates how risky trades or the strategy can be. The majority of professional traders recommend to keep the drawdown between 5% to 15% in any situation. Let me explain drawdown in…
BKFX has announced that is offering its clients a 30% deposit bonus. This will give new traders the chance to enhance their trading by placing larger positions! To access the bonus all you need to do is open a live account, complete the registration process, deposit funds, and start trading. To make getting the bonus even easier, BKFX have set it up so that the money is credited instantly and automatically after each deposit. The maximum bonus awarded is $5,000. The trading profit created from the bonus is withdrawable. The bonus itself is removed proportionately on any withdrawal. About BKFX…
M4 Markets has announced that it is offering a 50% discount on the opening requirements for its Raw Spreads Account and Premium Account. The discount on initial deposits is a special Black Friday offer. The deal is valid for two weeks from November 19 2021 to December 3 2021. This promotion gives traders the opportunity to test the M4 Markets trading environment and enjoy their exceptional online trading conditions. The Black Friday Offer Raw Spreads Accounts => The minimum deposit is usually $500 but for Black Friday week, the minimum deposit will be $250! Premium Accounts => The minimum deposit is…
Most Forex traders will use one of the four trading styles: scalping, day trading, swing trading or position trading. In this article we will explain the main differences between each of these trading styles. Scalping Scalping involves entering and exiting the market for short durations of time. Traders applying this style typically use shorter time frames such as the 1 minute and 5 minute time frames. Their goal is typically to make small continuous profits which will accumulate to much bigger sums. This trading style is suitable for traders who are comfortable with fast price movements and can focus on…
NAGA has announced that it’s added 48 new assets to its collection. It now has 950+ trading instruments including forex pairs, stocks, indices, commodities, ETFS, and cryptocurrencies. 12 New Crypto CFDs NAGA is giving its traders access to some of the newest, and most exciting cryptocurrencies on the market. It has now added another 12 Crypto CFDs to its platform, including Decentraland ($MANA) and Sandbox ($SAND)! 7 New Stocks As always, NAGA is helping its traders stay on top of the latest stock market trends. It has now added GameStop ($GME) and AMC ($AMC) to its list, together with 5…
Forex trading involves buying and selling currencies. Trading can be risky and it is normal for a trader to have some losses. But the main aim is to make more profits than losses overall in the market. It is important to know how to calculate your potential profit, or losses, and to know how likely you are to make a successful trade. It’s also important to know that in forex trading there are two types of profits: realised or unrealised. Realised profits are profits made after a trade has been closed. Unrealised profits are profits made but the position has…
Do you have any friends that are interested in online trading? You can now refer them to M4Markets and earn $5 for every lot they trade on a Standard Account. The most exciting thing about this new promotion is that it’s not a one-time deal. M4Markets will continue paying you $5 for every new lot that your friend trades as well. How can you start referring friends? Open a live account with M4MarketsLogin to your Client AreaNavigate to the ‘Refer a Friend’ sectionFind your automatically created link or create your ownShare your link with your friend via social media or…