Forex Trading

A Guide for Professional Traders and Investors

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		BxZero Account		BxStandard Account
FX Pair	Description	MIN	AVG	MIN	AVG
AUDCAD	Australian Dollar vs Canadian Dollar	0.3	0.8	1.3	1.8
AUDCHF	Australian Dollar vs Swiss Franc	0.2	0.8	1.2	1.8
AUDJPY	Australian Dollar vs Japanese Yen	0	0.4	1	1.4
AUDNZD	Australian Dollar vs New Zealand Dollar	0.2	0.8	1.2	1.8
AUDSGD	Australian Dollar vs Singapore Dollar	1.6	2.4	2.6	3.4
AUDUSD	Australian Dollar vs United States Dollar	0	0.2	1	1.2
CADCHF	Canadian Dollar vs Swiss Franc	0.3	1	1.3	2
CADJPY	Canadian Dollar vs Japanese Yen	0	0.6	1	1.6
CHFJPY	Swiss Franc vs Japanese Yen	0	0.8	1	1.8
CHFSGD	Swiss Franc vs Singapore Dollar	0	0.6	1	1.6
EURAUD	Euro vs Australian Dollar	0	0.5	1	1.5
EURCAD	Euro vs Canadian Dollar	0	1.1	1	2.1
EURCHF	Euro vs Swiss Franc	0	0.5	1	1.5
EURCZK	Euro vs Czech Republic Koruna	10	54.2	11	55.2
EURGBP	Euro vs British Pound	0	0.4	1	1.4
EURJPY	Euro vs Japanese Yen	0	0.3	1	1.3
EURNOK	Euro vs Norwegian Kroner	6	19.3	7	20.3
EURNZD	Euro vs New Zealand Dollar	0.4	1.3	1.4	2.3
EURPLN	Euro vs Polish Zloty	2	9.7	3	10.7
EURSEK	Euro vs Swedish Krona	6	23.5	7	24.5
EURSGD	Euro vs Singapore Dollar	1.1	1.9	2.1	2.9
EURTRY	Euro vs Turkish Lira	2	22.2	3	23.2
EURUSD	Euro vs United States Dollar	0	0.1	1	1.1
EURZAR	Euro vs South African Rand	2	49.3	3	50.3
GBPAUD	British Pound vs Australian Dollar	0.8	1.8	1.8	2.8
GPBCAD	British Pound vs Canadian Dollar	0.6	1.5	1.6	2.5
GPBCHF	British Pound vs Swiss Franc	0.8	1.6	1.8	2.6
GPBJPY	British Pound vs Japanese Yen	0.4	0.8	1.4	1.8
GBPNOK	British Pound vs Norwegian Kroner	6	28.6	7	29.6
GBPNZD	Pound vs New Zealand Dollar	1.2	2.6	2.2	3.6
GBPSEK	British Pound vs Swedish Krona	7	30.3	8	31.3
GBPSGD	British Pound vs Singapore Dollar	1.3	3	2.3	4
GBPTRY	British Pound vs Turkish Lira	4	19.8	5	20.8
GBPUSD	British Pound vs Singapore Dollar	0	0.4	1	1.4
NOKJPY	Norwegian Kroner vs Japanese Yen	1.5	1.8	2.5	2.8
NOKSEK	Norwegian Kroner vs Swedish Krona	6	8.1	7	9.1
NZDCAD	New Zealand Dollar vs Canadian Dollar	1	1.3	2	2.3
NZDCHF	New Zealand Dollar vs Swiss Franc	0.5	1.1	1.5	2.1
NZDJPY	New Zealand Dollar vs Japanese Yen	0.3	0.7	1.3	1.7
NZDUSD	New Zealand Dollar vs United States Dollar	0.1	0.4	1.1	1.4
SEKJPY	Swedish Krona vs Japanese Yen	10.6	11.6	11.6	12.6
SGDJPY	Singapore Dollar vs Japanese Yen	6	6.3	7	7.3
USDCAD	United States Dollar vs Canadian Dollar	0	0.2	1	1.2
USDCHF	United States Dollar vs Swiss Franc	0	0.4	1	1.4
USDCNH	US Dollar vs Chinese Offshore Spot	6.4	8.8	7.4	9.8
USDCZK	United States Dollar vs Swedish Krona	3	36.6	4	37.6
USDJPY	United States Dollar vs Japanese Yen	0	0.2	1	1.2
USDMXN	United States Dollar vs Mexican Peso	5	19.9	6	20.9
USDNOK	United States Dollar vs Norwegian Kroner	1.5	11.8	2.5	12.8
USDPLN	United States Dollar vs Polish Zloty	6	11.8	7	12.8
USDSEK	United States Dollar vs Swedish Krona	6	19.5	7	20.5
USDSGD	US Dollar vs Singapore Dollar	0.5	1.2	1.5	2.2
USDTHB	United States Dollar vs Thai Baht	10	33.9	11	34.9
USDTRY	United States Dollar vs Turkish Lira	0	19.5	1	20.5
USDZAR	United States Dollar vs South African Rand	10	30.3	11	31.3
ZARJPY	South African Rand vs Japanese Yen	1	1.1	2	2.1

What is Forex Trading?

Forex trading, short of foreign exchange, is the selling and buying of currencies. Each currency in a pair is represented by a three-letter code. They’re normally formed by two letters that signify the region and the last letter that signifies the name of the currency. For example, AUD stands for the Australian dollar.

Forex Chart

It’s Common To See Currency Pairs Split Into The Following Categories:

› Major pairs – those that are the most frequently traded around the world.
› Minor pairs – those less frequently traded, it does not include the US dollar.
› Cross pairs – those less frequently traded, again do not include the US dollar.
› Exotics – those that are a major currency against one from an emerging economy.

How Does Forex Trading Work?

Transactions are completed across the four forex trading hubs around the world. They’re Sydney, Tokyo, London, and New York.

The trading takes place in an over-the-counter (OTC) market and run by networks of banks and brokers, which means that there is no centralized exchange. As there is no centralized location or exchange like for example the New York Stock Exchange (NYSE), it’s possible for you to trade 24 hours a day, 5 days a week.

It’s common for there to be no actual or physical delivery of the currency in retail trading as you trade derivatives of the exchange rate. This makes it easy for almost anyone to participate in forex trading and profit on correctly predicted price movements.

How To Read Forex Pairs

The first currency listed in a forex pair is called the base currency, and the second currency is called the quote currency. The price of a forex pair is how much one unit of the base currency is worth in the quote currency. So if EUR/USD is trading at 1.10041, then one euro is worth 1.10041 dollars.

Ultimately this means if the euro rises against the dollar, then a single euro will be worth more dollars and the pair’s price will increase. If it drops, the pair’s price will decrease.

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How to Trade Forex?

If you think that the base currency in the pair is likely to strengthen or appreciate against the quote currency, you can buy the pair, otherwise known as going long. If you think it will weaken or depreciate, you can sell the pair, otherwise known as going short.

The difference between the two currencies is the spread. When buy or sell, you are always buying or selling the first currency in the pair. With Baxia Markets you can trade numerous pais in a very friendly way. Whether you are an intraday scalper or long-term investor, modern platforms make it routine to conduct business with forex.

Technical Analysis vs Sentiment Analysis in Forex

Technical analysis and sentiment analysis are two important methods of market prediction. Technical analysis is the study of past price action to predict future price movements, while sentiment analysis is the study of how investors feel about a particular asset or market. Both methods can be useful for trading currencies, but they have different strengths and weaknesses.

Technical traders tend to focus on shorter-term trends, sometimes even looking at individual candlestick patterns (such as doji or engulfing patterns) as well as trending chart patterns to make decisions about when to buy or sell a currency pair.

The main advantage here is that it gives you more flexibility: if your prediction was wrong, you can get out quickly without losing too much money compared with other strategies, where losses compound over time if you’re wrong early on in your trade cycle.

Sentiment analysis tends to focus more on long-term trends because longer-term data gives us more insight into which way markets will go in the future based on current investor sentiment towards certain assets.

This type of strategy requires greater patience than technical analysis because it takes longer before there’s enough data available for us so we know what direction markets are moving towards (or whether they’re trending up or down).

Central Banks

Most serious traders are familiar with central banks and their roles as monetary authorities in countries around the world. The European Central Bank (ECB) is the central bank for the eurozone, which is the 19 countries that share the euro as their common currency.

The ECB was established in 1998, and its headquarters are in Frankfurt, Germany. Also, the ECB is responsible for monetary policy in the eurozone, but it also supervises banks and has other responsibilities, such as keeping the financial system stable. Ultimately, the ECB’s main objective is to maintain price stability within the eurozone and to preserve the purchasing power of the euro.

How Do I Start Trading Forex With Baxia?

Baxia Markets is pleased to offer our clients a versatile porfotlio of trading instruments including Forex, Metals, Energy, Cryptocurrencies and Indices. You can start trading Forex with Baxia Markets by opening a live account below.