Trade the World's Largest Currency Market
The largest, most liquid market on earth trade the world's currencies 24 hours a day.
What is forex?
Forex, short for foreign exchange, is the global market where one currency is traded for another. Every currency is quoted in pairs (for example EUR/USD: Euros against US Dollars), and the price reflects how much of the second currency one unit of the first will buy. When you trade forex you are simultaneously buying one currency and selling another.
The forex market is the largest financial market in the world, with daily turnover exceeding US$7 trillion. It runs across three overlapping sessions Tokyo, London and New York which together keep the market open continuously from Sunday evening through Friday evening. There is no central exchange: trades are matched electronically across a network of banks, brokers and liquidity providers (an over-the-counter or OTC market).
Major pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF) make up around 70% of total volume and typically have the tightest spreads. Minor and exotic pairs (e.g. USD/SGD, USD/TRY) are also available but tend to be more volatile and carry wider spreads.
Trading forex on RakizFx
At RakizFx you trade forex as a contract for difference (CFD), meaning you take a position on the price movement without owning the underlying currency. You can go long (buy) if you expect the base currency to appreciate, or short (sell) if you expect it to fall both with equal ease.
Each forex trade is sized in lots: 1 standard lot equals 100,000 units of the base currency. Mini lots (10,000) and micro lots (1,000) are also supported, so position size always fits the account. Leverage of up to 1:500 on majors lets a small margin deposit control a much larger notional position.
Profit and loss are calculated in pips the fourth decimal place for most pairs, or the second for JPY pairs. A 1-pip move on a 1-lot EUR/USD position equals approximately $10 of P/L. Positions held overnight are subject to a swap (rollover financing) based on the interest-rate differential between the two currencies.
Major forex pairs
- EUR/USD
Euro / US Dollar
Loading…Loading… - GBP/USD
Pound / US Dollar
Loading…Loading… - USD/JPY
US Dollar / Yen
Loading…Loading… - AUD/USD
Aussie / US Dollar
Loading…Loading… - USD/CAD
US Dollar / Canadian
Loading…Loading… - USD/CHF
US Dollar / Swiss Franc
Loading…Loading… - NZD/USD
Kiwi / US Dollar
Loading…Loading… - EUR/GBP
Euro / Pound
Loading…Loading… - EUR/JPY
Euro / Japanese Yen
Loading…Loading… - GBP/JPY
Pound / Japanese Yen
Loading…Loading… - EUR/CHF
Euro / Swiss Franc
Loading…Loading… - EUR/CAD
Euro / Canadian Dollar
Loading…Loading… - EUR/AUD
Euro / Australian Dollar
Loading…Loading… - EUR/NZD
Euro / New Zealand Dollar
Loading…Loading… - GBP/CHF
Pound / Swiss Franc
Loading…Loading…
Currencies move 24/5
Trade forex with RakizFx
Open a live forex account in under 2 minutes. Trade 60+ currency pairs from 0.0 pips on majors, with up to 1:500 leverage fund from $50 via bank, card or crypto on a single MetaTrader 5 login.
