What is Forex
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Trading & Products

Forex

Learn about the basics and history of the biggest financial market in the world.

what is forex

Most Traded Currency Pairs

  • EUR/USD - 45%
  • USD/JPY - 25%
  • GBP/USD - 15%
  • Other Currencies - 15%

What is Forex?

FX or Foreign Exchange, is the world’s largest financial market. FX is the exchange of one currency for another. The Forex market is open 24 hours a day, from Sunday through Friday. Nearly £3 trillion worth of currencies are traded each day.

New York
London
Tokyo
Sydney
 

Typical Forex Trading Hours:

               New York 13:00 to 22:00 GMT
               London 08:00 to 17:00 GMT
               Tokyo 00:00 to 09:00 GMT
               Sydney 22:00 to 07:00 GMT

Many institutions around the world now trade 24hrs a day and there are also trading hours when two sessions overlap:​

  • London & New York [12:00 - 16:00] GMT
  • Tokyo & London [07:00 - 09:00] GMT
  • Sydney & Tokyo [00:00 - 06:00] GMT

Overlapping forex trading hours contain the highest volume of traders. The forex market is more active than the stock market and is traded Over the Counter. This means that currencies are not listed on any exchange. Though the majority of trade goes through London, New York, and Tokyo there is no one central location where currencies are traded. It is truly a global market.

FX is popular with individual traders due to its accessibility and its simplicity relative to other markets. You can trade FX in an online account from almost anywhere in the world. FX traders buy or sell a currency hoping that it will rise or fall against the value of another in order to profit from the difference in price.

Forex traders have frequent opportunities to take advantage of price fluctuations due to the high volumes of trade activity and the many buyers and sellers in the market. In FX prices are affected by macroeconomic, for example, a decision made by a central bank makes speculating on market prices relatively straightforward compared to the equities market. In forex you simply need to evaluate whether one country’s currency will be worth more or less than the currency of another.

GKFX is a registered trademark of GKFX Financial Services Limited © 2017 GKFX Financial Services Limited – all rights reserved.

RISK WARNING

All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors and you can lose more than your initial deposit. Please ensure that you fully understand the risks involved, and seek independent advice if necessary. ​Apple, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.See our full Risk Warning and Terms of Business for further details.

Our products are traded on margin and carry a high degree of risk. Losses can exceed your initial deposit.