Trading Currencies can be complex and time-consuming, so we've cut out the fat
The foreign exchange (also known as FX or forex for short) market is a marketplace for exchanging national currencies against one another. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. Don’t confuse forex trading with physical trading – it’s all online! You buy a currency online, sell another online, and you make a profit online.
When you travel to another country, you will have to go to a currency exchange desk at the airport for example, and then exchange the money you have in your wallet into the currency of the country you are travelling to. For example, if you leave in New York and you are travelling to Paris in France, you will need to exchange United State Dollars (USD) to Euros (EU). You will see on a screen the different exchange rates for different countries. Once you exchange currencies at the desk you have basically participated in the forex market or done your very first step of what we call forex trading. You have exchanged one currency for another, in this case you exchanged USD for EU – You have sold USD and bought EU.
The forex market is open 24 hours a day and 5 days a week, only closing down during the weekend. The day starts when traders wake up in Sydney then moves to Tokyo, London, Frankfurt and finally, New York, before trading starts all over again in Sydney!
Our ethos is to “fit” your needs because ultimately our aim is to help you succeed and grow by providing you an exceptional trading experience second to none. So sit back, relax and enjoy the perfect gamified trading experience
4 separate trading sessions available: Sydney, Tokyo, London and New York.
So, you've got 24-hour access to trade for 5 days a week (the markets close over the weekend).
Note: Trading hours are subject to change without prior notice. Liquidity Providers may adjust trading schedule as necessary, depending on market conditions.
The value of each currency depends on the supply and demand for it, thus determining the ‘exchange rate’ between the two currencies, which is continually fluctuating. The exchange rate itself is basically the difference between the value of one currency against another.
It's this exchange rate that determines how much of one currency you get in exchange for another, e.g. how many US dollars you get for your Euros. Now, when you’re trading forex, you’ll be trading currency pairs. So, two different currencies will be involved, and you’ll be speculating about their value in relation to each other.
Get access to forex trading in seconds at the touch of a button. Easy, Fun & Straightforward!
Start Trading Forex with 24Domino
Better than your Average Trading App!