Forex currency market
Trade on the largest and most liquid global market
There are many forex brokers. Only with OANDA brokerage account, you get:
- the opportunity to trade a multitude of currency pairs
- the latest MT5 platform with advanced trading and analysis tools
- Forex recommendations and forecasts from our award-winning analysts in the OANDA mobile application
- commission free trading, the account opening process is free and takes minutes
- tight spreads, trusted for over 25 years, OANDA displays its spread cost history
Forex currency market
Trade on the largest and most liquid global market
There are many forex brokers. Only with OANDA brokerage account, you get:
- the opportunity to trade a multitude of currency pairs
- the latest MT5 platform with advanced trading and analysis tools
- Forex recommendations and forecasts from our award-winning analysts in the OANDA mobile application
- commission free trading, the account opening process is free and takes minutes
- tight spreads, trusted for over 25 years, OANDA displays its spread cost history
Currencies – live quotes
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* Live quotes are provided for: currencies, gold, silver and cryptocurrencies (except for BITCOIN contracts). Other instrument quotes are delayed by 15 minutes.
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Forex market - what is it and what does it characterize?
The name "forex" comes from the English expression foreign exchange, which literally translates to "foreign exchange". It is a currency market, which is the largest market in the world in terms of daily trading volume. Central and commercial banks, large international corporations, government entities, and institutional investors from different countries conduct numerous transactions here mainly related to currencies - but not only, as you will read in the further part of the article. Telephone networks, computer links, and advanced information systems are used for investment purposes.
Although the market described is sometimes called the forex exchange, it is actually classified as an over-the-counter (OTC) market. It is decentralized and does not have a supervisory institution, so transactions are made directly between market participants. To start investing, you will need a forex broker, which is a financial institution that will help you open a brokerage account and carry out transactions on selected instruments.
Forex exchange - opening hours
Forex trading is available to investors from Monday to Friday for almost 24 hours a day, from late Sunday evening until Friday evening. As a result, individual traders have a wide range of hours to choose from when entering transactions.
In the early morning of Polish time, the European market starts (Frankfurt, Zurich, Paris). Then the London Stock Exchange joins. In the afternoon, the United States stock exchange opens, so around 3:00 PM, the most transactions take place. When the day in the USA is coming to an end, investors who aim for transactions in Asian instruments enter the game.
Remember that although forex is open all the time, the highest volatility occurs during the stock market sessions in Europe and the United States. During the Asian session, it is slightly lower but still significant from the traders' perspective, especially those who choose to invest in currency pairs such as AUD JPY (Australian dollar to Japanese yen). Therefore, the trading hours will depend on the specific currency pair or other instrument you choose to trade.
Forex currencies and other instruments - why is it worth investing in them in the over-the-counter market?
Investing in forex currency market is a great alternative to stock market transactions, as it offers the opportunity to eliminate many drawbacks that you may experience when investing in the capital market. Forex is a market with high accessibility and numerous advantages, which is why it is highly popular among beginner traders.
Among the most important advantages of the forex market, we can mention:
- high liquidity - this characteristic means that selling or buying any volume of currency at any time is not a problem; the exception is very small or very unusual orders.
- high volatility - forex traders use this characteristic for speculation - thanks to it, they can sometimes make profits regardless of whether the exchange rate is rising or falling (so-called trading on growth or on declines).
- Low transaction costs - a forex broker does not charge commissions from its clients, so the cost of the transaction is only the so-called spread, which is the difference between the buying price and the selling price of a given instrument.
- The possibility of using financial leverage - also known as leverage - allows an investor to manage a significantly larger capital than they actually have in their account.
The maximum financial leverage on major currency pairs available in Europe is currently 30:1, which means that an investment of 1000 zł allows a trader to trade with an amount of 30,000 zł. Leverages outside of Europe can be even higher. This is an opportunity for significant profits even for investors who do not have a large initial capital. However, remember that just as the potential winnings increase, so does the risk of potential losses. That is why it is so important to use the opportunities provided by financial leverage wisely.
As you can see, the advantages of the forex market definitely outweigh its disadvantages. However, it is worth remembering that due to its unpredictable nature, the currency market requires individual investors to have risk management skills. That is why it is recommended to use tutorials, training sessions, or helpful tools such as forex demos to learn how to invest in a real market environment with virtual money.
Types of forex brokers
As we have already mentioned, before you start investing in forex, you need to open a brokerage account with a chosen forex broker. You have four types of models available:
Broker Market Maker (MM)
This is one of the most popular market models that we represent as TMS Brokers. When a trader opens a position based on the value of a given instrument, they enter into a transaction with a broker. The broker, in turn, secures it under their brand in the interbank system. The investor does not have to manage their investments independently, and the broker earns from the mentioned spreads.
Broker Straight Through Processing (STP)
In this case, the broker acts as an intermediary for transactions made by the trader. Orders are anonymously transmitted by the broker to specific liquidity providers with whom they collaborate. This type of broker earns money from spreads and sometimes also from transaction commissions.
Electronic Communication Network (ECN)
Brokers of this type offer their clients the best possible price at a given moment, as they strive to gather the largest number of liquidity providers in one place. Spreads at such a forex broker may be lower than at others, but at the same time, one must be prepared to have a higher deposit and not very high leverage.
Multilateral Trading Facility (MTF)
This is the last and least popular model of a forex broker. If you decide to use its services, you will have access to a spreadsheet containing only binding orders with a limit. The service provider's compensation will be a commission based on the turnover.
Forex brokers ranking - how to choose a trustworthy brokerage house?
There is no doubt that according to us, the best forex broker is the one that represents the Market Maker model. If you decide to choose this type of intermediary in the currency market, you only need to select a specific company that will secure the transactions made by you.
Before making a decision about where to open an account, it is worth reviewing the forex brokers ranking, which is periodically prepared by various entities. In addition to this, pay attention to several key issues. Choose a Polish forex broker who will handle your transactions in your native language and additionally has advantages such as:
- activity subject to Polish and EU legal regulations and supervised by the Financial Supervision Commission
- possibility of using the platform in Polish złoty (this is advantageous due to lower costs of deposits and withdrawals of capital)
- easy access to all forex courses and stock market quotes online
- tax settlement without difficulties - a Polish broker is obliged to issue PIT 8c, which will allow you to settle your taxes without any trouble.
Best forex broker – create an account with them
TMS Brokers meets all the above requirements that both beginner and more advanced traders set before choosing a broker. So if you have decided that you want to open your brokerage account with us, we have good news for you - you can do it easily in a few minutes, without leaving your home! All you need is to scan your ID card and enter a few details into the form. Below we present this simple step-by-step process:
- Go to the main page of TMS Brokers or install our mobile application and find the "open account" button.
- Fill in the empty fields of the form with your information.
- Make a scan or take a photo of your ID/passport and send it to our email address.
- Wait for the response in which you will find the file with the agreement.
- Deposit the first funds into your account.
- Receive an email with an account activation confirmation.
Ready! You can start investing now... But in what? Keep reading to find out what options you have.
Forex currencies - which pairs are the most popular?
The majority of transactions in the forex market are conducted using currency pairs, in which one currency is called the base currency and the other is the quote currency. The most popular pairs are those based on the US dollar, euro, or Japanese yen, which are the most significant currencies for the international economy. Investors often choose pairs with the British pound, Australian dollar, Swiss franc, and Canadian dollar as well.
Selling and buying currencies takes place through a trading platform. In the case of our offer, you have at your disposal a modern version of MetaTrader5 or our proprietary mobile application, which is also great for monitoring and executing transactions.
Other instruments in forex - CFD contract as an alternative to traditional investing.
By opening a brokerage account with us, you not only gain the opportunity to invest in currencies but also access to other instruments. This way, you can easily diversify your portfolio, meaning you can allocate your funds to different transactions. This will give you the assurance that even if one front doesn't work out, you will still have other transactions that may bring profit. Through the TMS Brokers application, you can invest in completely different instruments.
These are types of securities in which you can invest directly on the stock exchange. Shareholders become co-owners of a portion of the assets of a joint-stock company whose shares are publicly traded. They can therefore trade them on the public capital market. By buying shares, you gain some influence on how the company is managed and the right to participate in the profit it generates.
CFD contract for stock indices, commodities and goods, stocks, cryptocurrencies, ETF funds.
CFDs are financial products that can be based on the prices of various instruments, such as stocks, indices, commodities, ETFs, and others. They are a type of agreement in which the investor and the broker commit to settle the amount equal to the difference between the opening and closing price of a given position in favor of one party. A CFD contract allows for both long and short positions - it is up to you to correctly predict the price movement. Profits from this type of investment can be multiplied through the use of leverage.
Remember that all investments in forex should be well thought out and preceded by technical analysis, as well as based on an individually developed investment strategy. To constantly improve it, take advantage of the trainings offered by us. We provide you not only with a wide educational base, but also webinars and specialized analyses prepared by experts. With us, you will reach a higher level of forex investing!
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