Trade Forex with Admiral Markets

The Forex market, also known as the foreign exchange market or FX, is the market in which currencies are traded. The financial market is the largest and most liquid in the world. Trading is open 24 hours a day, five days a week. To demonstrate the enormity of its volume, the Forex markets sees over $7.5 trillion worth of transactions a day according o the Bank for International Settlements (BIS).

The Forex market is open 24 hours a day, 5 days a week and currencies are traded worldwide among the major financial centres. The market opens on Sunday at 10:00 pm GMT, and closes on Friday at 10:00 pm GMT. The specific hours of each centre are as follows:

• Sydney – 10:00 pm - 7:00 am London time
• Tokyo – 12:00 am - 9:00 am London time
• London – 8:00 am - 5:00 pm London time
• New York – 1:00 pm -10:00 pm London time

This really depends on how you intend to trade, whether you use leverage and to what level and how much capital you decide to risk. You could start by investing $50, or $50,000 – the sky is the limit. However, you should remember that increasing the amount of leverage also increases the level of risk you’re exposed to. Ultimately, trading boils down to a trader’s psychological tolerance and management of risk. Skilled traders are able to minimise risk and maximise profit through careful market analysis, developing an effective trading strategy and money management rules.

Many factors can influence the Forex market, including central banks, commercial banks and investment banks. This is known as the interbank market, as they constantly deal with each other on behalf of themselves or their customers. There are a number of other participants in the foreign exchange market, however, which also includes large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders and individual investors.

There are many factors that can impact - or potentially impact - currency market prices. Such factors include economic and political events and announcements, interest rates, inflation levels and natural disasters - among others. There`s no sure fine way to predict price movements, but valuable information can be gleaned through the analytical techniques implemented and shared by trading analysts.

MetaTrader 4 and MetaTrader 5 are the world’s most popular trading platforms. Admiral Markets also offers a unique package of over 60 unique tools, indicators and add-ons – the MetaTrader Supreme Edition – which is available for both MT5 and MT4. Admiral Markets’ traders can also trade Forex online without downloading anything – directly in their web-browser – with MetaTrader WebTrader.

Check out our other educational content, including articles, training programs, seminars, webinars and video tutorials. Beginner and experienced traders alike use Demo accounts to practice currency trading and then to test and fine-tune trading strategies and set-up add-ons, plugins, scripts and indicators. Demo accounts are free of both charge and risk and allow you to practice in a real-market environment with virtual funds. if you haven`t got one, sign-up now!

To make a profit while Forex trading online, you need the market to move in your favour. You can help your chances of this by analysing the market in various ways. Technical analysis involves trends, historical data and current market movements. It’s more statistically focussed in examining charts and indicators. Alternatively, you could look at fundamental analysis, which focuses more on important economic events and announcements that may influence the market. Whichever type of analysis you decide to follow, you should look to build a formulated Forex trading strategy, incorporating wise decision making and appropriate money and risk management. The sum of your profit depends on the efficiency of your trading strategy, on how well you learn to predict market movements, your risk management strategy and on the amount you choose to deposit.

Admiral Markets provides you with a wide array of information and tools that could help you build a comprehensive trading strategy. To find out more about Forex trading strategies, we suggest you check out our other educational content, which includes hundreds of in-depth articles as well as training programs, seminars, webinars and video tutorials.

Admiral Markets has various educational courses that you could find useful. Check out our education section for more information.