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Education > Introduction to Forex
WHAT IS FOREX ?

Foreign exchange (aka forex) is an off-exchange retail foreign currency market where participants purchase currency in exchange for another (at the current exchange rate).


FOREX MARKET HOURS

Unlike other financial markets, the Forex market operates 24 hours a day, 5.5 days a week (6:00 PM ET on Sunday until 4:00 PM ET on Friday). It is conducted through an electronic network of banks, corporations and individual traders exchanging currencies. For retail traders Forex is primarily used as a means for speculative investing and actual physical delivery of currencies is almost never intended. Forex trading begins every day in Sydney, moves to Tokyo, followed by Europe and finally the Americas.


UNDERSTADING CURRENCY PAIRS

Currencies are always traded in pairs, for example EUR/USD, USD/JPY. Every position requires the buying of one currency and selling of another. When someone says they are "buying the EUR/USD", they are buying Euros and selling Dollars. There are many other Forex currency pairs available to trade, such as the Danish Krone, Mexican Peso, and Russian Ruble. However, these currency pairs are generally traded less, and are not considered major currencies.


PIPS
Market increments are measured in Pips, or Percentage in Point. A pip is the fourth except for Japanese Yen crosses, where a pip is the second digit.


INSTANT EXECUTION

With AKSYS CAPITAL , all forex trades are 100% executed anonymously without human intervention. Removing the human element helps make placing trades fast and more accurate, which is helpful in a fast moving market.


A helpful way to learn more about Forex is hands-on: try our Free Demo Account from AKSYS CAPITAL.

Have a question?
Feel free to contact our Trading Team to serve you and answer your needs 24/6.






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