Currency trading, also known as FX or forex (foreign exchange) trading, enables traders to take advantage of increases and decreases in a currency’s value. The foreign exchange market is the most liquid in the world, with a daily trading volume of over $5 trillion. Discover the potential benefits of online forex trading with a global award-winning broker. Currency traders, or FX traders, buy and sell currency pairs using a forex broker as the intermediary that facilitates the transaction between the buyer and the seller.
Once you The most popular pair traded in the Euro vs. the American Dollar. The currency on the left is called the base currency, and is the one we wish to buy or sell; the one on the right is the secondary currency, and is the one we use to make the transaction. Each pair has two prices – the price for selling the base currency (ask) and a price for buying it (bid). The difference between them is called a spread. Some other terms of the online Forex trading world are Going long and Going short, which stand re-spectively for ‘buying’ and ‘selling’.
Why trade the forex market with BBS?
Globally regulated & licensed
Our brand is regulated and licensed under the FSC of the Republic of Mauritius and UK’s FCA, among others.
Dedicated support in 18 language
We speak your language so that you can feel at home while trading with us.
BBS’s Performance statistics, including Requote, Slippage and Order Execution, are checked by PwC.
Secure & Safe
Your funds are kept in segregated accounts, and your trades are secured by negative balance protection.
5 intresting facts about the Forex Market
In the mid 1980’s a form of electronic FOREX trading existed which allowed banks to contact each other electronically and request price quotes. This system of communication was very advanced at the time, it was basically a closed network real-time chat system, it was developed by Reuters and was called Reuters Dealing.
The FOREX market trades in excess of $2 trillion dollars per day ($2,000,000,000) which is about 10-15 times the daily trading volume of the world’s stock markets combined.
The majority of trading activity happens on what is known as the Major currency’s these are the USD bloc, EUR bloc and JPY bloc. These blocs represent the three largest global economies.
The FOREX market trades 24 hours per day from Monday morning in the Asia-Pacific time zone until Business close on Friday afternoon in New York. The FOREX market doesn’t even close for holidays with the exception of New Year’s Day and even that depends what day it falls on.
The US dollar index is a futures contract listed on the New York Board Of Trade (NYBOT) and the Dublin based Financial Instruments Exchange (FINEX) futures exchange. The US Dollar index is usually found under the symbol @DX and represents the average value of the US Dollar against other major currencies. The dollar index is heavily weighted to the Eurozone.