The FOREX market is an extraordinary
trading path to gain financial independence.
A market available 24/5, with a daily transaction volume of $ 5
trillion. The most liquid market, providing enormous opportunities.
What is Forex & when can you trade?
Forex stands for FOReign EXchange and it is the biggest market where currency pairs are traded. It is open during business days, working hours. Forex market opens on Sunday at 10:00 pm GMT and closes on Friday exact time, 10:00 pm GMT. The timeline stays like this: Sydney – 10:00 pm – 7:00 am GMT, Tokyo – 12:00 am – 9:00 am GMT, London – 8:00 am – 5:00 pm GMT, New York – 1:00 pm -10:00 pm GMT.
Traders are allowed to trade Forex directly or through CFDs. A Forex contract for difference is an instrument that enables investors to invest in a particular asset, in this case in forex pairs. The trader will profit from the price movements, while he/she doesn’t own the asset. This contract works like any contract between a buyer and a seller, where the seller will pay the buyer the difference between the most recent value and the value which is defined in the contract.
How can you start trading? This is easy and we are your best choice. Create an account with Prime Holdings, fund it and start immediately opening trades. There is no limit on how much you want to start with, even though we recommend to start with a firm minimum of €250. You should take into consideration the leverage. Use it carefully, depending on the capital you are investing. Leverage boost your trading power, you will open more trades and raise the volume of each trade, but on the other side, it comes with a risk. Be informed about the leverage and its advantages before using it.
Forex market participants
There are many participants in the Forex market, starting with interbank foreign exchange, which is responsible for about half of all transactions. It involves the biggest commercial banks, where the spread is sharp and remains unknown to outside participants.
Central banks are also a very important Forex participant, because they are responsible to maintain the volume of the money in their countries and manage the supply for money in order to achieve the higher financial levels in their country.
Other participants are small banks, international corporates, hedge and pension funds. Individual traders are growing recently, since they see Forex as an opportunity to have another source of money in their lives.
Why trading Forex with Prime Holdings?
24/5 Support on technical issues and education
Desktop, web and mobile trading apps
Excellent customer support service agents
Transparent trading conditions, no fees, no charges
Stop loss and take profits functions available
Negative Balance Protection & SSL security standard available
Pip stands for ‘Percentage In Point’. It is a measure unit in exchange rates fluctuations. It measures profits and losses. One pip is equal to 0.0001.
A spread is the difference between the selling and buying price for a certain asset. Differently said, it is the cost of trading.
A margin is the minimum amount of capital required to have your trading account valid to trade. The margin makes you available to a larger amount of capital through leverage.
Leverage provides you with a larger amount of capital available to trade, in the form of a loan. It comes with both profits and risks. Be careful to choose the leverage which suits your trading capacities.