Forex Trading

Trade more than 50 forex markets, 24 hours a day from Sunday night until Friday night with FXOpen
Open a forex trading account

FXOpen: Forex 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 FXOpen

Peace of mind

One platform with multiple instruments and markets

With us as your broker, you can use one platform for forex trading as well as for indices, commodity CFDs and cryptocurrency CFDs*.

We want you to be a successful trader

You're trading with an FCA regulated broker

based in the UK. Your funds are fully protected up to £85,000 by the FSCS.

Make your money go further

Highly
customisable

to your individual trading style and strategies, meaning you are in complete control of your trading.

Ultra-fast execution

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.

Your choice of trading strategy

Access anytime, anywhere

via the desktop, web-based or mobile version of the MT4 trading platform. The web-based version is particularly useful for Apple Mac users, where a direct download is not available.

200+ markets offered

Access to 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.

Forex

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.
We want you to be a successful trader
We want you to be a successful trader

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, using a forex calculator to view the GPB/USD pair would show how many US dollars it would take to buy one pound.

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 FXOpen

FXOpen is a true ECN 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 profitable traders so there is no conflict of interest. With FCA regulation and FSCS protection of £85,000, FXOpen UK is the ideal choice for traders.

FXOpen is one of the best forex trading platforms in the UK, 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 FXOpen.

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?

After the 1970s, when the United States dropped the Bretton Woods agreement regarding the USD convertibility in gold, the foreign exchange market grew dramatically. First available only to institutional players due to the high transaction costs and difficulty to access, it all changed when the internet and online trading appeared. Forex brokers made it possible for the retail trader to join the largest financial market in the world.

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?

Because the forex market is made up of currencies from across the globe, predicting exchange rates is difficult as there are a number of factors that constantly move prices. The main driving factors for these moves are central banks, news reports and market sentiments. Understanding how each of these operate will help you on your trading journey.

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?

No matter if you’ve been trading for a short or long time, defining your success will help you to become an expert trader. Think about what you want to achieve from it and how you personally define success.

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.

Open a forex trading account

*Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules. They are not available for trading by Retail clients.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.