Spot Foreign Exchange
FxGravity provides online currency trading conditions for clients around the globe and is one of the fastest growing multi-asset online trading companies in the world. We offer tight spreads on OTC Spot Foreign Exchange for all major currency pairs.
The online currency trading market is open 24 hours a day allowing online forex trading to take place from Monday to Friday. At FxGravity the MetaTrader 4 online trading platform offers traders the opportunity to trade Forex from anywhere in the world using the iPhone, iPad, laptop or PC at times convenient for them.
Learn more about OTC Spot Foreign Exchange
The Foreign Exchange Market (FX) is the arena in which one nation’s currency is exchanged for that of another at a mutually agreed rate. It was created in the 1970’s when international trade transitioned from fixed to floating exchange rates, and is now considered to be the largest financial market in the world because of its huge turnover.
In Forex trading all currencies are traded in pairs, with the ‘base’ currency being the first currency of the pair and the ‘quote’ or ‘term’ currency being the second currency in the pair.
Base currency Quote currency Rate USD JPY = 120.25
This abbreviation specifies how much you have to pay in the quote currency to obtain one unit of the base currency (in this example, 120.25 Japanese Yen for one US Dollar). The minimum rate fluctuation is called a point or a pip.
Most currencies, except USD/JPY, EUR/JPY, CHF/JPY and other Yen crosses where a pip is 0.01, have 4 digits after the period (a pip is 0.0001), and sometimes they are abbreviated to the last two digits. For example, if EURUSD is traded at 1.2389/1.2391 the quote may be abbreviated to 89/91.
OTC Spot Forex details:
- Minimum lot sizes of 0.01
- Fixed spreads – even during economic events
- Use of expert advisor
- Powerful and user-friendly trading software