Forex Trading
Trade more than 50 forex markets, 24 hours a day from Sunday night until Friday night with Fortunefx pro
Open AccountForex trading for the experts
Forex trading, foreign exchange or FX trading, is simply the conversion of one currency into another. As one of the most actively traded markets in the world, with individuals, companies and banks executing trillions of dollars’ worth of transactions every single day, it’s a market where experienced individuals come to test their skills, knowledge and tenacity.
Advantages of forex trading with Fortunefx pro
One platform with multiple instruments and markets
With us, you can use one platform for index trading as well as for commodities (metals and energy only), forex, shares and cryptocurrency CFDs.
You're trading with a true ECN technology broker
You're trading with a true ECN technology broker trusted by more than 1 million traders worldwide.
Highly customisable
to your individual trading style and strategies, meaning you are in complete control of your trading.
Access to automated trading
You have the choice to download and use ready-made scripts and expert advisors or create a custom indicator or script, based on your very own trading strategy.
Access anytime, anywhere
via the desktop, web-based or mobile version of the Fortunefx pro suite of trading platforms.
A wide range of analysis
50+ built-in indicators and graphic tools for technical analysis, quotes history center, strategy tester and news, all designed to help you increase your trading knowledge.
Setting measurable goals in a volatile market
Although forex trading is done mainly for practical purposes, the majority of these currency conversions are undertaken by specialist forex traders to earn a profit.
Not for the faint hearted
Price movements can be extremely volatile because of the volume of currency being converted on a daily basis, which is something that every good trader should be aware of.
Whether you’ve been trading for a year or have decades of experience behind you, it’s vital to set yourself quantifiable goals before you begin. That could be achieving a 20% annual return on your investment or getting a total of 100 pips a month – whatever your goal, it should be easily measured.
How does forex trading work?
Forex trading works like any other transaction where you buy one asset using currency. Where foreign exchange is concerned, the market price indicates to a trader how much of one currency is required to buy another. Each currency has its own code which lets traders identify it as part of a pair.
For example: If you’re buying a currency pair, you’d expect to see the price rise, indicating that the base currency is strengthening relative to the quote currency. If you’re selling a currency pair, you’d expect to see the price fall. This would happen if the base currency has weakened against the quote. For example, you would buy a GBP/AUD currency pair if you think the pound will strengthen against the Australian dollar, or sell if you think the pound will weaken.
The risks and rewards of the forex market
As with most things in life, there are both risks and rewards when trading in the forex market.
Understanding them both will help you to become a successful forex trader. Remember that forex is the most-traded financial market in the world, with prices that are constantly moving, therefore creating an abundance of opportunities to trade.
Another of the key risks to consider is that some forex pairs are much more volatile than others, and pairs that include USD are often in high demand making them more liquid than others.
If you’re aware of the risks and take steps to mitigate them, the forex market can be very rewarding.
However, to gain the rewards and profits you may be looking for, you need to have a full understanding of all risks involved in trading and the forex market.
Expert trading for expert traders at Fortunefx pro
Fortunefx pro is a true ECN technology broker, where trades are matched with the best available price on the Electronic Communication Network (ECN). With tight variable spreads, low commissions and an NDD model, we want all our clients to be successful traders so there is no conflict of interest.
Fortunefx pro is one of the best forex trading platforms, with a range of major, minor and emerging currency pairs for you to go long or short on, as well as forex charts and other useful tools like an economic calendar. Why not get in touch with our team today to access a live account. Offering you the ability to trade in over 50 forex markets, 24 hours a day from Sunday night until Friday night, discover for yourself why so many experts trade with Fortunefx pro.
Why do people trade forex?
People trade on the forex market for a number of different reasons. The foreign exchange markets are the largest and most liquid financial markets in the world, making them immensely popular among forex brokers and traders. Forex trading exploded in popularity because of its leverage, continual trading opportunities, high liquidity and low entry costs.
What is a forex broker?
A forex broker is an intermediary link between the trader and the market. It offers market quotes via its various liquidity providers, and its trading platform reflects the best possible conditions it has to offer to its customers. For this, it charges a fee or a commission, and its interests align with those of the trader.
Brokers are organised as either a dealing desk (also called market makers) or a non-dealing desk. A dealing desk creates a market by mirroring the quotation from the interbank market and deals the prices to its clients. In non-dealing desks, forex brokers route their clients’ orders to the liquidity provider, and the best quote is offered to retail clients from the liquidity pool.
Brokers organised like non-dealing houses often offer ECN (Electronic Communication Network) or STP (Straight-Through Protocol) execution. However, different types of forex brokers exist, mixing dealing with non-dealing conditions, and operating as hybrid entities.
Depending on the type of the brokerage house, different account types exist. ECN accounts and STP accounts are just a couple of examples.
What factors move the forex market?
It’s also important to remember that prices move up and down based on supply and demand, just like any other financial market. As a forex trader, you’re likely to either choose to put your money into an economy that has strong growth potential or short a market.
How to define success as a forex trader?
Setting goals is vital and these should be easy to measure. It’s also recommended you set a target that can be achieved over a long timeframe, annually for example, as opposed to monthly. Once you’ve established these factors, you’ll be able to put your action plan into work.
Regardless of how experienced you are, it’s important to always manage your expectations throughout the forex trading process, and control your emotions. To become a successful trader, you must understand the mechanics of the forex market, trust your analysis and follow the rules of your forex trading strategies.