Or browse live prices for popular currency trading pairs. Prices above are subject to our website terms and conditions. The FX spread represents the cost of trading on each forex pair, and is essentially our commission for day trading the currency market download your trade.
FX transactions worth trillions of dollars take place every day, and unlike stocks or commodities there’s no central exchange. Instead, currency trading is facilitated via a global network of banks, dealers and brokers, which means you can trade any time, day or night, Monday to Friday. FX prices are influenced by a range of different factors, including interest rates, inflation, government policy, employment figures and demand for imports and exports. And because of the sheer volume of currency traders and the amount of money exchanged, price movements can happen very quickly, making currency trading not only the largest financial market in the world, but also one of the most volatile.
Learn more about what forex is and how to trade currency. A forex CFD is a contract for difference that is used to speculate on the foreign exchange market. Just like traditional forex trading, when you trade a forex CFD you’re effectively buying one currency in a pair while selling the other. But instead of taking ownership of any actual currency, you’re agreeing to exchange the difference in price of your chosen currency pair from when your position is opened to when it is closed. Find out more about CFD trading. What is a forex spread bet? A forex spread bet is a bet on the direction in which a currency pair’s price is headed.
Any profits or losses would be realised once the position is closed. How do I start forex trading? There are two main ways to get started forex trading: via an FX broker, or via derivatives like spread betting or CFD trading. To a forex trader, they offer very similar benefits. All are leveraged, allow you to take both long and short positions, and are charged via a spread. However, there are a few benefits to trading forex via CFDs or spread betting. Spread betting is tax-free in the UK,1 for instance, and both spread betting and CFD trading offer access to a huge range of markets alongside forex.