40+ Forex Pairs
The foreign currency exchange market, also known as Forex, is the biggest market in the world, with a trading volume average of more than $5 trillion per day. it is also an incredibly volatile market, with changes happening within a matter of milliseconds.
What is Forex?
Forex pairs at our platform are traded as contracts for difference (CFDs). the CFD derivatives market is made up of buyers and sellers, the main participants being large international banks, who place orders via electronic trading systems. this market is traded OTC (not traded on any regulated exchange) and as such there is no uniform price but each of the main international banks is providing its own quotes with the spot market acting as the point of reference for the quotes provided.
In forex trading, spot price of a currency pair is influenced by several factors, such as the economic outlook and geopolitical events in that region, as well as news data releases which may be perceived positively or negatively by the market.
Contracts for difference (CFDs), allow traders to buy (go long) or sell (go short), and make profit or loss from price movements, without having to physically purchase and exchange the underlying currency.
Forex is quoted in pairs, with each representing a global currency or economy. the first currency is called the ‘base’ currency (representing the volume you wish to trade) and the second is called the ‘term’ or ‘quote’ currency (representing the current exchange rate).
Monyxa's Forex spreads
The spreads, margins and trading hours for all of available currency pairs
|symbol||description||digits||margin||min trade size||contract Size||trading Hours GMT|
|EURUSD.ﬁx||Euro vs US Dollar||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|USDJPY.ﬁx||US Dollar vs Japanese Yen||3||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|GBPUSD.ﬁx||Great Britain Pound vs US Dollar||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|USDCHF.ﬁx||US Dollar vs Swiss Franc||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|USDCAD.ﬁx||US Dollar vs Canadian Dollar||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|AUDUSD.ﬁx||Australian Dollar vs US Dollar||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|
|NZDUSD.ﬁx||New Zealand Dollar vs US Dollar||5||1%||1,000||100,000||Sunday 22:00 – Friday 22:00|