Forex
Discover everything you need to know about forex, from understanding what it is to learning how to trade effectively.
What is Forex?
Forex, short for foreign exchange, is a global market where traders buy, sell, and exchange different currencies. It is the largest financial market in the world, operating 24 hours a day, five days a week. In Forex, currencies are traded in pairs, such as EUR/USD or USD/JPY. The objective is to generate a profit by purchasing a currency at a lower price and selling it at a higher price.
Top Popular Trading Pairs
EUR/USD
USD/JPY
GBP/USD
AUD/USD
USD/CHF
Key Features
Currency Pairs
Traders deal in pairs of currencies, like EUR/USD, where the first currency is the base and the second is the quote.
Bid and Ask Prices
Each currency pair has a bid price (what buyers pay) and an ask price (what sellers accept), with the difference being the spread.
Leverage
Forex allows traders to control large amounts of money with a small deposit, amplifying both profits and losses.
Risk Management
Effective risk management, such as using stop-loss orders, is crucial to protect capital in Forex trading.
Factors Affecting Forex
Currency values are influenced by interest rates, inflation, political stability, and economic performance.
Profit Goal
The primary goal of Forex traders is to buy currencies at a lower price and sell them at a higher price for profit.
Why trade forex with tomotrader?
Unmatched Liquidity
Dive into the world's most liquid market, with over $7.5 trillion traded daily, offering ample opportunities for entering and exiting positions smoothly.
Flexible Trading Directions
Capture both upward and downward price movements by easily going long or short on various currency pairs, allowing for versatile trading strategies.
Lightning-Fast Execution
Take advantage of frequent price movements in popular currency pairs with ultra-fast execution. FX trading orders are executed in milliseconds across all available terminals.
| Symbols | Tick Value | Pip Value | Contract Size | Digits | Markup Value ($) | Maximum Leverage | Stop Limit Level | Minimum Lot | Maximum Lot |
|---|---|---|---|---|---|---|---|---|---|
| AUD/USD | 1 USD | 9.0 | 100000 AUD | 5 | $9.00 | 1000:1 | 3 | 0.01 | 100 |
| EUR/USD | 1 USD | 9.0 | 100000 EUR | 5 | $9.00 | 1000:1 | 3 | 0.01 | 100 |
| GBP/USD | 1 USD | 9.0 | 100000 GBP | 5 | $9.00 | 1000:1 | 3 | 0.01 | 100 |
| NZD/USD | 1 USD | 9.0 | 100000 NZD | 5 | $9.00 | 1000:1 | 3 | 0.01 | 100 |
| USD/CAD | 1 CAD | 12.9 | 100000 USD | 5 | $9.02 | 1000:1 | 3 | 0.01 | 100 |
| USD/CHF | 1 CHF | 8.0 | 100000 USD | 5 | $8.87 | 1000:1 | 3 | 0.01 | 100 |
| USD/JPY | 100 JPY | 14.1 | 100000 USD | 3 | $9.04 | 1000:1 | 3 | 0.01 | 100 |
| AUD/CAD | 1 CAD | 12.9 | 100000 AUD | 5 | $9.02 | 100:1 | 3 | 0.01 | 100 |
| AUD/CHF | 1 CHF | 8.0 | 100000 AUD | 5 | $8.87 | 100:1 | 3 | 0.01 | 100 |
| AUD/JPY | 100 JPY | 14.1 | 100000 AUD | 3 | $9.04 | 100:1 | 3 | 0.01 | 100 |
| AUD/NZD | 1 NZD | 15.9 | 100000 AUD | 5 | $9.00 | 100:1 | 3 | 0.01 | 100 |
| AUD/SGD | 1 SGD | 12.2 | 100000 AUD | 5 | $9.00 | 100:1 | 3 | 0.01 | 100 |
| CAD/CHF | 1 CHF | 8.0 | 100000 CAD | 5 | $8.87 | 100:1 | 3 | 0.01 | 100 |
| CAD/JPY | 100 JPY | 14.1 | 100000 CAD | 3 | $9.04 | 100:1 | 3 | 0.01 | 100 |
| CAD/SGD | 1 SGD | 12.2 | 100000 CAD | 5 | $9.00 | 100:1 | 3 | 0.01 | 100 |
| CHF/JPY | 100 JPY | 14.1 | 100000 CHF | 3 | $9.04 | 100:1 | 3 | 0.01 | 100 |
| CHF/SGD | 1 SGD | 12.2 | 100000 CHF | 5 | $9.00 | 100:1 | 3 | 0.01 | 100 |
| USD/CNH | 1 CNH | 65.8 | 100000 USD | 5 | $9.03 | 100:1 | 3 | 0.01 | 100 |
| USD/HKD | 1 HKD | 69.9 | 100000 USD | 5 | $8.98 | 100:1 | 3 | 0.01 | 100 |
| USD/SGD | 1 SGD | 12.2 | 100000 USD | 5 | $9.00 | 100:1 | 3 | 0.01 | 100 |
| USD/THB | 1 THB | 308.0 | 100000 USD | 5 | $9.10 | 100:1 | 3 | 0.01 | 100 |