You can participate in Forex trading online on any of our foreign exchange trading platforms, which include MetaTrader 4, MetaTrader 5, and Alchemy Markets’ FIX API solution. All of our platforms are equipped with a wide range of technical analysis tools and indicators. Forex traders can also automate their trades with Expert Advisors and enjoy the flexible use of leverage and expert customer support. For high-frequency traders, our FIX API offering includes a sliding scale commission based on trading volume so that you can save more in costs.

Forex trading takes place on the Forex market, which is the largest financial market in the world with a daily turnover volume of trillions of dollars. FX trading is divided into sessions. The four major sessions are Sydney, Tokyo, London, and New York, and traders can take part in any session regardless of their location.

The Forex market is an enormous global market and there is no single, standard regulatory body that oversees it. Instead, there are supervisory bodies in individual jurisdictions that oversee local markets and traders are expected to adhere to domestic standards set by them. For example, UK Forex traders must comply with standards set by the Financial Conduct Authority (FCA) while Forex traders in the EU must comply with MiFID II guidelines and additional standards set by their country’s regulatory body.

EUR/USD, USD/JPY, GBP/USD are consistently among the most traded Forex pairs. They are made up of major currencies, which are the most traded on the markets due to the fact they hail from the world’s strongest economies. The seven major currencies include the US dollar, the Euro, the Great Britain Pound, the Australian dollar, the Canadian dollar, the Japanese yen, and the Swiss franc. With the US dollar being the world’s most traded currency, it forms major Forex pairs whenever it is paired with the six other major currencies.

Forex pairs are traded in lots. A standard lot is 100,000 units of the base currency of a Forex pair, a mini-lot is 10,000 units, and a micro-lot is 1,000 units. This is due to the fact that Forex price movements are small, measured by pips. One pip is 0.0001 in most currency pairs. For Forex pairs with the Japanese yen as the quote currency, one pip is 0.01.

For sure. Traders can open a Forex demo account with Alchemy Markets and see if FX trading is suitable for them. We offer three platforms on which to trade Forex, equipped with superior technical analysis tools and indicators. Traders who wish to test out advanced Forex trading strategies before going live can also do so on our platforms.