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What is Forex?

Welcome to the world of trading Forex, we are sure you have been asking yourself, 'what is Forex?'
Currency, FX, foreign exchange. Quite simply, it’s the world's largest and most liquid financial market. Whether it’s private retail investors, financial institutions or central banks executing trades.

How is it done?

Forex is traded in currency 'pairs'. The most liquid and popular currency pair is the Euro and the United States Dollar, or 'Eurodollar' and is displayed on the market as EUR/USD. Traders will trade on the change in value in this currency pair. For example; if the price of the EUR/USD is 1.08, this means that the value of 1 Euro is equal to 1.08 USD.

Why trade forex?

The Forex market operates 24 hours a day, Monday to Friday, all year round. Anyone that has an internet connection, a PC or laptop can take part of this huge financial marketplace, making it easy to enter into the trading lifestyle. BetaFX245 is your broker of choice to give you instant access through our straight to market trading platform.

More to "How it's done?"


For example; if the price of the EUR/USD is 1.08, this means that the value of 1 Euro is equal to 1.08 USD (this is also known as the exchange rate, which you may find displayed on the evening news, or on the electronic boards at your local bank). If the rate should rise to 1.10, this means that 1 Euro is now worth 1.10 USD, in other words, if you had bought EUR/USD when the price was 1.08, then you have now made a profit of 0.02 EUR for every Euro you had purchased. The supply and demand for the currency pair that you are trading is what ultimately determines it’s pricing in the market. Traders will use 'Technical Analysis' (I.e. using charts and indicators that are based on mathematical algorithms) to determine the trends in the currency pairs. They also keep a sharp eye on economic data released by a country's central banking system, such as; CPI, employment and unemployment rates and interest rate decisions, to determine the economic outlook of the countries whose currency pairs they are considering trading, this is known as 'Fundamental Analysis'. These factors will then give them a forward outlook on how the market will behave in the given currency pair and help them decide which direction to take in the trade.

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Why you should trade

BetaFX245 is the broker of choice to give you instant access through our straight to market trading platform, so that you can take advantage of the massive opportunities available to you as a Forex Trader. Whether you want to trade part-time or full-time, BetaFX245 has the support and systems you need to trade effectively and efficiently and maximise the profitability of your trading strategy.

In Forex Trading, there is a difference between the buy and sell rates of a specific currency pair, i.e: you may be using EUR/USD to buy at 1.0718 and sell at 1.0702, the difference between these rates is known as the 'spread'. At BetaFX245, we offer the tightest spreads to give you better value on your trading and assist you in making greater profits. Our commissions on trades are also amongst the most competitive in the marketplace today. Give us a try and see you trading account balance grow.

 
  • Address:

    South Africa
    Ground Floor, Block B
    Wierde Gable Building Inanda Green Business Park
    Sandton,2146
  • Telephone:

    0861 (BETAFX)238239
  • Email:

    support@betafx245.com

 

  • Address:

    Australia
    Suite 1D, Level 23
    Governor Phillip Tower 1 Farrer Olace Sydney
    NSW 2000, Australia
  • Telephone:

    +612 809 14424

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High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. This website is neither a solicitation nor an offer to Buy or Sell currencies, futures, or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Website owners and affiliates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.