Foreign Exchange

Foreign Exchange is the abbreviation of international exchange, which refers to foreign currencies or means of payment and assets expressed in foreign currencies that can be used for international settlement, mainly including credit notes, securities, payment certificates and foreign exchange cash. The foreign exchange market, also known as the "Forex" or "FX" market, is the largest financial market in the world. According to statistics from the Bank for International Settlements (BIS), the daily flow exceeds US$5.3 trillion - equivalent to three times the total transactions of all securities markets in the United States. Compared with other markets, the foreign exchange market is favored by banks, companies, financial institutions and retail investors due to its high liquidity and 24-hour trading from Monday to Friday.

Trade Forex Currency Pairs at UACTCTK

24/7 Trading

Trading is available 24 hours a day, 5 days a week, allowing you to seize more profit opportunities.

Rich product range

The world's most popular currency pairs are available for trading, and customers can get professional technical analysis services for free.

Liquidation-level market depth

Up to 8 levels of market depth, real-time display of market trading volume and liquidity data, intuitively feel market fluctuations and seize opportunities.

What is Forex Trading?

Forex trading, also known as currency trading, is the selling of one currency to buy another specific currency. Currency trading always involves exchanging one currency for another.

The ultimate goals are varied, including but not limited to the following:

1. Convert currency A (e.g., USD) into currency B (e.g., EUR) for travel;

2. Convert currency A (e.g., USD) into currency B (e.g., EUR) for trading;

3. Convert currency A (e.g., USD) into currency B (e.g., EUR) for investment in order to gain profit;

For all of the reasons listed above (and not limited to the above), the foreign exchange market is the most liquid and volatile market in the world today, with more than $5 trillion traded every day.

Major Currency Pairs VS. Commodity Currency Pairs

"Major currency pairs" and "commodity currency pairs" are the most liquid and widely traded currency pairs in the foreign exchange market. These currency pairs and their combinations (EUR/JPY, GBP/JPY and EUR/GBP) make up a large part of all transactions in the foreign exchange market. Since these currency pairs generally have a large number of buyers and sellers, their bid-ask spreads are generally the smallest.

Major currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF

Commodity currency pairs: AUD/USD, USD/CAD, NZD/USD

However, there are also many other currency pairs on the market that allow you to grasp the macro events of specific international markets, such as USD/CNH (US Dollar/Offshore Chinese Yuan) and USD/MXN (US Dollar/Mexican Peso).

Advantages of Forex Trading