Trading on Forex
Forex could be considered the most convenient instrument in the world of currency trading. It allows customers to speculate and trade on all major currency pairs, such as EUR/USD, GBP/USD, USD/JPY and USD/CHF.
- The essence of trading on foreign exchange is to monitor movements of currency fluctuations and act on this knowledge – to buy and sell currency to make as much profit as possible.
- On Forex, buying and selling both happen in one trade. For example, placing a buying order on USD/EUR assumes buying euros at the opening of the position, waiting until they appreciate against the dollar and then selling them for more dollars than you originally bought the euros for.
- At BrokerJet, we allow for something called ‘leveraged trading’ where the leverage is as high as 1:200. For instance, if you buy 100,000 euros at a price of 1.23 USD you will not need 123,000 dollars, but only a margin of 6,137 USD. This allows you to operate with big assets even if you don’t have large funds in your account.