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AKFX | What is Forex

What is Forex

FX or Foreign Exchange, is the world’s largest financial market. FX is the exchange of one currency for another. The Forex market is open 24 hours a day, 5 days a week from Sunday through Friday, and nearly £3 trillion worth of currencies are traded each day.

Typical Forex Trading Hours:

  • New York forex trading hours are between 13:00 to 22:00 GMT
  • London forex trading hours are between 08:00 to 17:00 GMT
  • Tokyo forex trading hours are between 00:00 to 09:00 GMT
  • Sydney forex trading hours are between 22:00 to 07:00 GMT

 

Many institutions around the world now trade 24hrs a day and there are also trading hours when two sessions overlap:​

  • London & New York [12:00 - 16:00] GMT
  • Tokyo & London [07:00 - 09:00] GMT
  • Sydney & Tokyo [00:00 - 06:00] GMT

 

Overlapping forex trading hours contain the highest volume of traders.

The Forex Market is more active than the stock market and is traded Over the Counter, meaning that currencies are not listed on any exchange. Though the majority of trade goes through London, New York, and Tokyo there is no one central location where currencies are traded. It is truly a global market.

FX is popular with individual traders due to its accessibility and its simplicity relative to other markets. You can trade FX in an online account from almost anywhere in the world. FX traders buy or sell a currency hoping that it will rise or fall against the value of another in order to profit from the difference in price.

Forex traders have frequent opportunities to take advantage of price fluctuations due to the high volumes of trade activity and the many buyers and sellers in the market. In FX prices are affected by macroeconomic data such as a decision made by a central bank, which makes speculating on market prices relatively straightforward compared to the equities market. In forex you simply need to evaluate whether one country’s currency will be worth more or less than the currency of another.

Typical Forex Trading Hours

Forex
 

Symbol

Country

Currency

Nickname

USD

United States

Dollar

Buck, Greenback, Reserve Currency

EUR

Euro members

Euro

Fiber, Unified Currency

JPY

Japan

Yen

Yen

GBP

Great Britain

Pound

Cable

CHF

Switzerland

Franc

Swissy

CAD

Canada

Dollar

Loonie

AUD

Australia

Dollar

Aussie

NZD

New Zealand

Dollar

Kiwi

Advantages of Forex Market

MARKET DIRECTION

Trade the rise & the fall. A currency can be shorted, sold before you buy it.

ACCESS ANYWHERE

You can trade whenever, wherever you want, the only thing you need is connection.

NO COMMISSION

The only thing you pay will be the bid-ask
spread

LEVERAGE

You can leverate your money up to 100 times in AKFX

MARKET THAT NEVER SLEEPS

Forex market is open from Monday 00:00 till Friday 24:00

PRODUCT RANGE

You can trade Soybean, FX currencies and be a part of Google, Coca Cola, BMW…

Open a Live Account and experience the unique trading environment.

Open Demo Account and experience the unique trading features of AKFX for yourself.