What is forex trading?

Forex, FX – short for ‘foreign exchange’ – is trading currencies of different countries against each other.

Forex is one of the largest global financial markets for trading various currencies.

It assists international trade and investments via foreign exchange transactions.

 

According to  BIS Triennial Central Bank Survey 2016, the daily global forex transaction volume achieves $5.1 trillion.

The top five forex trading countries are: 

1. The United Kingdom

2. The United States

3. Singapore

4. Hong Kong SAR  

5. Japan

CPT

 

Their forex transaction volume occupied  70% of the global forex trading

 

Information of this article contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. CPT Markets does not accept any liability whatsoever for any loss arising from any use of this article or its contents. This article is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this article.

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Editors’ Picks

EUR/USD: Mildly bid, but bull reversal remains elusive

EUR/USD is currently trading at 1.1078, representing marginal gains on the day amid oil price spike. The currency pair on Friday faced rejection at the resistance of the trendline connecting June 25 and Aug. 13 highs.

EUR/USD News

GBP/USD: Brexit optimism keeps bulls in the drivers’ seat

The GBP/USD pair has advanced for a second consecutive week, reaching Friday 1.2505, its highest since last July, and settling not far below this last. Fading odds for a hard-Brexit continue to underpin the Pound.

GBP/USD News

USD/JPY looking to close the bearish opening gap amid risk-off

USD/JPY gapped down to 107.44 on Monday’s open as risk appetite is diminished following the attack on Saudi Arabian oil facilities. The spot now trades near 107.80, aiming to close the bearish opening gap ahead of a big week. 

USD/JPY News

Editors’ Picks

EUR/USD: Mildly bid, but bull reversal remains elusive

EUR/USD is currently trading at 1.1078, representing marginal gains on the day amid oil price spike. The currency pair on Friday faced rejection at the resistance of the trendline connecting June 25 and Aug. 13 highs.

EUR/USD News

GBP/USD: Brexit optimism keeps bulls in the drivers’ seat

The GBP/USD pair has advanced for a second consecutive week, reaching Friday 1.2505, its highest since last July, and settling not far below this last. Fading odds for a hard-Brexit continue to underpin the Pound.

GBP/USD News

USD/JPY looking to close the bearish opening gap amid risk-off

USD/JPY gapped down to 107.44 on Monday’s open as risk appetite is diminished following the attack on Saudi Arabian oil facilities. The spot now trades near 107.80, aiming to close the bearish opening gap ahead of a big week. 

USD/JPY News

The good, the bad and the extremely ugly crypto

XRP is in a borderline situation and with little room for doubt. Bitcoin demonstrates its power and positions itself as the emerging leader. Ethereum is in an intermediate situation, far from risk but also from opportunity.

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Gold prices shot higher by over 1% in risk-off start to the week

Gold prices have shot higher in the open this week due to the increased tensions in the Middle East following the attack on Saudi Arabia’s oil and gas facilities in Abqaiq which has suspended half of the kingdom’s processing.

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