Forex Trading

Forex trading, also known as foreign exchange or FX trading, is the conversion of one currency into another. FX is one of the most actively traded markets in the world, with individuals, companies and banks carrying out around $6.6 trillion worth of forex transactions every single day.

Forex trading is always done in pairs. There are hundreds of different combinations to choose from; however, some of the most popular pairs include the EURO against the US dollar (EUR/USD), the US dollar against the Japanese yen (USD/JPY) and the British pound against the US dollar (GBP/USD).

What does it mean to buy or sell a currency pair?

To buy a currency pair means that you expect the price to rise, indicating that the base currency is strengthening relative to the quote currency. To sell a currency pair means that you expect the price to fall, which would happen if the base currency weakened against the quote.

For example, you'd 'buy' the GBP/USD pair if you think that the pound will strengthen against the dollar – meaning you'll need more dollars to buy a single pound. Or, you'd 'sell' this pair if you think that the pound will weaken against the dollar – meaning you'll need fewer dollars to buy a single pound.

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