Invest in best forex tradewith the help of a top forex broker. These companies offer low fees, a range of trading tools and the ability to practice your strategies with a risk-free demo account.
The best forex trades involve a combination of technical and fundamental analysis. The former involves looking for patterns in the price data while the latter looks at the economy to try and predict future market moves.
Many forex traders specialise in one particular pair of currencies. These are called major pairs and typically include USD/JPY, EUR/USD and GBP/USD. They make up around 75% of all forex trades and are therefore more liquid than other pairs. They also tend to have more volatility – meaning that the price can move up and down more quickly.
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When you want to trade a particular pair it’s important to choose the right time of day as this can affect how much liquidity there is and what kind of price movement you are likely to see. For example, the EUR/USD pair tends to see more price movement during the London session which runs from 08:00 to 16:00 GMT.
The best forex brokers are regulated, offer competitive trading conditions including tight spreads and have excellent customer support. They should also offer a wide range of trading instruments and support multiple languages. HYCM, for example, offers clients access to 69 currency pairs along with CFDs on stock indices and commodities and top 8 cryptocurrencies such as Bitcoin and Ethereum.