Before you place your first trade, you need to answer the question what is forex trading?
The forex market is one of the most liquid markets in the world, with more than 6.5 trillion in daily volume. It provides traders with a market with plenty of assets to trade. The forex market is also the foreign exchange market where currencies are exchanged. The securities are called currency pairs or currency baskets. There are several ways to engage in the forex markets, including using the over-the-counter OTC market, CFDs, futures contracts, and Exchange Traded Funds (ETF).
Several strategies can help you determine the potential future direction of a currency pair exchange rate. Before you get started, educating yourself to understand the nuances of forex trading can be helpful. It might also be useful to practice using a demonstration account. Once you feel you have the basics and have practiced for a while, you might be ready to start forex trading.
How Should You Get Started Forex Trading?
Before you place your first trade, you need to answer the question what is forex trading? To answer this question, you must perform some research. You can start by looking up forex trading online and doing some basic queries on what forex trading is. Your goal should be to determine the type of securities traded and the different facilitators that provide you with access to the forex markets. You will likely discover that retail traders widely engage in forex trading, along with institutional traders, hedge funds, central banks, and corporate treasurers.
While retail traders, hedge funds, and institutional investors engage in forex trading for speculative purposes, corporate treasurers and central banks usually interact with the forex markets to hedge their currency exposure. For example, suppose the company ABC has its corporate headquarters in the United States but has gained from operations in the United Kingdom. In that case, it might consider selling its pound gains and purchasing dollars to lock in its dollar gains.
Understanding the Market
The forex market trades around the clock, so it is essential to understand that the market can move based on new information worldwide. The most liquid currency pair is the EUR/USD, the Euro versus the U.S. Dollar. The second most liquid is the Japanese Yen versus the U.S. dollar, and the third is the British Pound versus the U.S. dollar. Liquidity usually plays an active role in forex trading decisions. While you might develop an excellent strategy for an illiquid currency pair, you could find that entering and exiting your positions might be challenging as well as expensive.
One way to measure the liquidity of a currency pair is through its bid-offer spread. When the spread is tight, like it will be most of the time when you trade the EUR/USD, you can enter and exit trades with little expense from buying on the offer and selling on the bid. When the bid-offer spread is wide, the cost to cross the bid-offer spread could be expensive.
For example, if you can buy the EUR/USD and the bid-offer spread is one pip (percentage in point), when the exchange rate is 1.02, then your cost to buy on the offer and sell on the bid will cost you about €0.00001 (0.0001/1.02). Alternatively, if the bid-offer spread on an exotic currency XYZ is one big figure, the costs might be closer to 2% (hypothetically). While the EUR/USD trades around the clock, the exotic currency pair you might evaluate might only trade during specific hours.
Understanding the Securities
When you look at the possible securities that are available, you should determine which one fits your needs. There are several popular ways to trade the currency markets. Many hedge funds, institutional investors, banks, and central banks trade in the over-the-counter market. The OTC market consists of a spot market, where you must deliver your currency within two business days of a transaction. The OTC market also provides a forward market, where you can agree to deliver your money to a counterpart at a period longer than two business days.
Another popular product that handles all of the delivery issues for clients by incorporating those issues is contracts for differences. A contract for differences (CFD) is a financial security that tracks the movements of the underlying product. Many reputable brokers offer CFDs on a wide range of currency pairs.
There are active futures contracts on many different currency pairs if you prefer futures contracts. Lastly, exchange-traded funds (ETFs) hold baskets of futures contracts and track the movements of currency futures.
Finding a Broker
If you want to trade forex, you can search for a reputable broker once you decide which product works best for you. You will likely find that each broker will offer one or more of these products and assist you in the transaction process.
You want to ensure that your broker also provides educational materials that can help you learn about the forex market and the products they offer. Academic portals might describe different trading strategies that can be used to trade the forex markets. Systems for trading could include technical analysis, which is the study of past price movements, or fundamental analysis, which is the study of the macroeconomic events that drive currency exchanges and may affect prices.
Before you begin to trade forex, you should practice. This means finding a broker that provides a demonstration account that will allow you to become familiar with its application and practice trading. Some of the better demo accounts are identical to the real platform, but you use demonstration money instead of real capital.
Summary
The upshot is that there is a process you should take before you make your first real forex trade. You want to take the time to understand the market and the different securities that are available to trade. Next, you want to determine the proper liquidity and the type of available financial instruments. Then you’ll want to perform due diligence and find a reputable broker to help you facilitate your transactions. Lastly, practice your strategy using a demonstration account.
The forex market is one of the most liquid markets in the world, with more than 6.5 trillion in daily volume. It provides traders with a market with plenty of assets to trade. The forex market is also the foreign exchange market where currencies are exchanged. The securities are called currency pairs or currency baskets. There are several ways to engage in the forex markets, including using the over-the-counter OTC market, CFDs, futures contracts, and Exchange Traded Funds (ETF).
Several strategies can help you determine the potential future direction of a currency pair exchange rate. Before you get started, educating yourself to understand the nuances of forex trading can be helpful. It might also be useful to practice using a demonstration account. Once you feel you have the basics and have practiced for a while, you might be ready to start forex trading.
How Should You Get Started Forex Trading?
Before you place your first trade, you need to answer the question what is forex trading? To answer this question, you must perform some research. You can start by looking up forex trading online and doing some basic queries on what forex trading is. Your goal should be to determine the type of securities traded and the different facilitators that provide you with access to the forex markets. You will likely discover that retail traders widely engage in forex trading, along with institutional traders, hedge funds, central banks, and corporate treasurers.
While retail traders, hedge funds, and institutional investors engage in forex trading for speculative purposes, corporate treasurers and central banks usually interact with the forex markets to hedge their currency exposure. For example, suppose the company ABC has its corporate headquarters in the United States but has gained from operations in the United Kingdom. In that case, it might consider selling its pound gains and purchasing dollars to lock in its dollar gains.
Understanding the Market
The forex market trades around the clock, so it is essential to understand that the market can move based on new information worldwide. The most liquid currency pair is the EUR/USD, the Euro versus the U.S. Dollar. The second most liquid is the Japanese Yen versus the U.S. dollar, and the third is the British Pound versus the U.S. dollar. Liquidity usually plays an active role in forex trading decisions. While you might develop an excellent strategy for an illiquid currency pair, you could find that entering and exiting your positions might be challenging as well as expensive.
One way to measure the liquidity of a currency pair is through its bid-offer spread. When the spread is tight, like it will be most of the time when you trade the EUR/USD, you can enter and exit trades with little expense from buying on the offer and selling on the bid. When the bid-offer spread is wide, the cost to cross the bid-offer spread could be expensive.
For example, if you can buy the EUR/USD and the bid-offer spread is one pip (percentage in point), when the exchange rate is 1.02, then your cost to buy on the offer and sell on the bid will cost you about €0.00001 (0.0001/1.02). Alternatively, if the bid-offer spread on an exotic currency XYZ is one big figure, the costs might be closer to 2% (hypothetically). While the EUR/USD trades around the clock, the exotic currency pair you might evaluate might only trade during specific hours.
Understanding the Securities
When you look at the possible securities that are available, you should determine which one fits your needs. There are several popular ways to trade the currency markets. Many hedge funds, institutional investors, banks, and central banks trade in the over-the-counter market. The OTC market consists of a spot market, where you must deliver your currency within two business days of a transaction. The OTC market also provides a forward market, where you can agree to deliver your money to a counterpart at a period longer than two business days.
Another popular product that handles all of the delivery issues for clients by incorporating those issues is contracts for differences. A contract for differences (CFD) is a financial security that tracks the movements of the underlying product. Many reputable brokers offer CFDs on a wide range of currency pairs.
There are active futures contracts on many different currency pairs if you prefer futures contracts. Lastly, exchange-traded funds (ETFs) hold baskets of futures contracts and track the movements of currency futures.
Finding a Broker
If you want to trade forex, you can search for a reputable broker once you decide which product works best for you. You will likely find that each broker will offer one or more of these products and assist you in the transaction process.
You want to ensure that your broker also provides educational materials that can help you learn about the forex market and the products they offer. Academic portals might describe different trading strategies that can be used to trade the forex markets. Systems for trading could include technical analysis, which is the study of past price movements, or fundamental analysis, which is the study of the macroeconomic events that drive currency exchanges and may affect prices.
Before you begin to trade forex, you should practice. This means finding a broker that provides a demonstration account that will allow you to become familiar with its application and practice trading. Some of the better demo accounts are identical to the real platform, but you use demonstration money instead of real capital.
Summary
The upshot is that there is a process you should take before you make your first real forex trade. You want to take the time to understand the market and the different securities that are available to trade. Next, you want to determine the proper liquidity and the type of available financial instruments. Then you’ll want to perform due diligence and find a reputable broker to help you facilitate your transactions. Lastly, practice your strategy using a demonstration account.
IronFX Celebrates 15 Years of Creating Strong Partnerships
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
