Forex trading is done in pairs, such as EUR/USD, GBP/USD, and USD/GPY. The nominator currency is called the base currency, and the denominator currency is known as the counter currency. With Achiever MU, you can trade in all major, minor, and emerging currency pairs. Major currency includes EUR/USD, trailed by the USD/JPY, GBP/USD and USD/CHF. EUR/GBP, EUR/CHF, GBP/JPY and CHF/JPY are examples of minor currency. Emerging currency pairs include USD/NOK, USD/HKD and EUR/CZK and they are also know as exotic currencies.
The Forex market operates globally, enabling continuous trading 24 hours a day as long as markets remain open. Forex is traded in pairs, allowing traders to take both long and short positions. As the most liquid financial market worldwide, transactions are executed swiftly and efficiently, resulting in low transaction costs—or spreads. This liquidity creates opportunities for traders to capitalize on price movements of just a few pips. Additionally, Forex brokers offer substantial leverage of up to 1:400, enabling traders to control larger positions with a smaller initial investment.
To start trading forex in the UAE, you would need to set up an account with a broker, and determine your trading strategy. Achiever can help you set up your trading account to trade Forex CFDs and more.
The benefits of trading forex include generally high liquidity, 24/5 availability, and the possibility of making risky but quick profits.
Yes, you can trade forex with leverage using Achiever, which allows you to trade a larger amount of currency with a smaller investment.