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Home / How To Trade Forex

How To Trade Forex

Forex is the trading of international currencies. Trading forex is very similar to trading stocks on the stock market, however instead of buying or selling shares of a company one currency is purchased with another. Money is made when the purchased currency increases in value relative to the currency used to purchase it. Currencies are traded in pairs, and only certain pairs are available. At Accendo Markets, we provide the support and educational material to enable you to learn how to trade forex.

The forex market is the most liquid and the largest market in the world. The main participants in the forex market at central banks and commercial banks. However, private investors, as well as pension funds and insurance companies can also trade. Online trading, using platforms like those offered by Accendo Markets, has made these markets extremely accessible to private investors and enabled many to learn how to trade forex. These platforms have helped to reduce the costs associated with trading, and encourage the fast paced market currently in existence.

 

When looking at how to trade forex, an investor must first determine whether they are long or short for the currency. In Forex trading, long means you are purchasing the base currency and selling the quote currency. A short position means you are selling the base currency and purchasing the quote currency. When deciding how to trade forex, you also need to determine what price you want to buy or sell at. The bid is the price you are able to buy the base currency at, while the ask is the price at which you can sell the base currency for. The ask is also sometimes referred to as the offer price. The difference between the Ask and the Bid is called the spread. Sometimes, a single “pip” (unit of movement) is the entire spread between the currency’s bid and ask. Forex is usually (but not always) quoted with four decimal points. So, if you are looking at the fourth decimal point, this is the fourth pip.  Because the market is so fast moving and based on such particular numbers, it is especially important to understand trading strategies and order types.

If you’re still discovering how to trade forex and would like some help, forex trading signals are available. You can try the forex trading signals on a two-week trial basis.

There are many strategies to follow if trading forex, as well as many types of trades and orders. A market order, for example, is placed when you want to buy or sell at the best available price. A Limit entry order is placed to purchase below the market or sell above the markets. A stop entry order is opposite this, and placed an order to buy above the market or sell below the market. A stop entry order, for example, might be used when you believe the market will move in a particular direction, and you want to trade on momentum. A sophisticated investor, who knows how to trade forex, will be able to utilize these trades to protect against loss.

Many forex strategies consider the macro economic trends occurring between two countries. General trends are likely to impact the valuation of a currency, for example.  Specific forex strategies, however, are typically very specific. Many strategies consider the moving averages and crossover points. Bollinger bands, breakouts, and stochastic charts can all be used to determine the likelihood of a currency appreciating or depreciation, and therefor you making money on it. If you are interested in learning more about how to trade forex, these strategies and more are clarified in Accendo Markets’ in-depth forex reports.

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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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4.81 Average

156 Reviews

George

I have found Accendo staff very helpful,,and informed. I have traded with you for some years now and have no regrets. Keep up the good work!

Posted 3 years ago

Shaun D

since signing up for Accendo I have had two traders, Mark and Sam. I have found both of these to be very informative about how CFD's work and they have made it very easy for me. Since working with Sam (last four months) my trading knowledge has improved and I can make more informative decisions about which Company's to invest with. Keep up the good work Sam.

Posted 3 years ago

Anonymous

I am very happy with the service I get from Accendo Markets and in particular Amrit Panesar. He is very professional and pleasant to speak to and this counts for a lot.

Posted 3 years ago

Shreekant P

Its a good site for dealing stocks worldwide and having good staff.

Posted 3 years ago

Nick W

Krishan Appiah is one of the most dedicated / informative broker I have ever had.

Posted 3 years ago

Thomas I

Since I have been trading with Accendo Markets I have experienced much greater success than has been my experience with other trading companies mainly due to the help given by, what I consider to be my terminal with the trading floor, Mark, who has been most helpful in reminding me of the progress of my positions throughout the day and keeping me in touch with those positions so that I can more easily make successful trades when appropriate instead of missing out on opportunities through lack of attention. He draws my attention to the situations and enables me to make profitable trades. I am very happy with the situation at the moment and am enjoying the experience. Thomas Irving.

Posted 3 years ago

Kartik A

Accendo markets keep me connected with the market and its very well followed by Mr. Krishan Appiah ,which helps me to take certain decision on time.

Posted 3 years ago

Peter p

I have been trading with Accendo Markets and James Abbott my account manager for coming on 5 years now, James Abbott the senior trader of Accendo Markets provides me with up to minute information when I need it and find him very easy and professional to deal with. Whenever I need to trade or am not sure about anything James is always their to help with any queries I may have. The Accendo Platform I find very easy to use and navigate although it has been slightly changed over the years but definitely for the better. Personal when I do trade 90% of the time, I rather telephone call to place my trade dealings and if James is not there to take my call I find others at Accendo like Sam, Lee take my trades and are. All in all everyone at Accendo Markets are amazing to deal with and my relationship with Accendo is just as I like it. Peter Petrou

Posted 4 years ago

Mrs. J

"Our Trader, Aymen Azizi, has been nothing but attentive to our every need throughout our long relationship with him. No issue is too small, full explanations on all our questions."

Posted 4 years ago

Brian R

I have been with Accendo for a long time now, ten or twelve year's, probably more . As I told Sam (my trader) I thought that CFDs were better than sex . I stopped trading for a few years and only started back about a couple of months ago. But it is as if I had never been gone , so to speak. Sam has helped me every step of the way, at my age one forgets things. I have only praise for Accendo and as far as I am concerned the platform is the best . Now I am back trading at 71 years of age, I might even try sex again. Brian Robertson.

Posted 4 years ago

Jim W

I understand how to make a profit with CFDs. I am restricted by the range of companies I have knowledge of. Although, I am not sure that is a big problem. Tom Robertson is a very fine man.

Posted 4 years ago

Rebekah S

Well, I would not be trading without the help of my trader, Sam Alnakkash. He provided a really great overview of Accendo Markets, an insight into trading in general and how to get started in trading online. His advice, support and training has been fantastic all along the way, enabling me to start trading earlier than I would have done had I not had the support. He has also been very adept at understanding me as a client in order to help me achieve my trading goals. I still have a lot to learn and hope I will get there.

Posted 4 years ago

Nick z

I like the updates on shares I trade. Updates from Bloomberg and Reuters plus industry updates and breaking news. I've had Matt Grice and James Abbott and found both to be excellent. I would like to continue a personal service with James. He understands how and which stocks I trade.

Posted 4 years ago

Steve O

Excellent, knowledgable broker interaction and communication, coupled with very good research and analysis.

Posted 4 years ago

William P

Being new to direct trading I needed help and was given all the time and advice that I needed to feel fully able to make decisions on what I wanted to invest in. I asked for and got exactly the type of info I required provided by Tom Cook, who I would recommend to anyone looking for help.

Posted 4 years ago

Mr. W

I have been dealing with accendo for the past 8 years my broker Amrit I find him very helpful when he is there lol and had many offers to change but will not do it Bill Roberts

Posted 4 years ago

Zoran N

Very good all round service! Timely market information. (charts + trends coverage ) On the ball accounts managers ,quickly available and alert . Part of my success owed to my personal manager Mr Sam Springet , than you.

Posted 4 years ago

Mr Brian C

Easy to deal with.....

Posted 4 years ago

Muhammed S

Accendo markets are great for trading cfds and their research is second to none! Aymen manages my account is extremely helpful and always keeps me updated on market info. Thanks again

Posted 4 years ago

Mr Buta B

Always available, whenever I call I get straight through to someone that can and will help. The staff are very knowledgeable, helpful and easy to talk to.

Posted 4 years ago

Stephen B

Aymen Azizi keeps an eye on what is happening in the market and informs me with timely relevancy, email call, and txt.

Posted 4 years ago

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