EUR/USD

1.06517
0.04%

Daily
  • L. 1.06454
  • H. 1.06711
  • Ch. -0.00043
  • Ch.% -0.04%
Overview
Costs
  • As two of the world’s most used currencies, EUR/USD is the world’s most-traded currency pair. It consistently offers traders tight spreads and constant liquidity as it represents the value of the US dollar per one euro. The European Union represents the world’s largest economic region with a GDP of over $13 trillion.
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1
  • Min Stop Distance
    0.8 Points
  • Guaranteed Order Minimum
    0.001 Points
  • Guaranteed Order Premium
    0.00012 units of quantity
  • Spreads
  • Spreads From
    0.00007 Points
  • Dealing
  • Spreads
    0.00007 Points
  • Guaranteed Order Min Distance
    0.001 Points

Pivot points
Dailys
Weekly
Monthly
Pivot point
1.06481
Bid
1.06512
Offer
1.06522
Distance
0
Last Updated: 4/19/2024 11:59:59 PM
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EUR/USD Forex explained

What is forex?

Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than £5.1 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

Read more on what is forex.

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Why trade forex

People trade forex for a range of reasons, including the unmatched liquidity of the market, the ability to trade on leverage, the opportunity to take positions in both rising and falling markets, the lack of hidden fees or commissions, and the accessibility of markets being open 25 hours a day, five days a week.

Read more about why to trade forex.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

Read more about how to trade forex.

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