Forex is the international currency market, the largest and most liquid in the world. In the forex market, trading takes place 24 hours a day, 5 days a week, so currency quotes are constantly updated in the online platforms of traders. The total volume of all transactions on the market per day is more than $ 5 trillion. Central banks around the world set the exchange rate based on how trading was held during the previous trading session. Major political and economic news, the publication of statistics for a particular country or the largest organizations that set the vector for the development of industry, trade, services, and so on can affect the change in quotes.
A currency pair consists of a base currency (one that is bought and sold) and a quoted currency (one in which value is expressed). For example, when you conclude a Buy transaction on a pair of EUR / USD, you buy euros for American dollars. Private traders, by joining trading platforms and buying currency pairs, make a profit when the forecast for changes in their prices is correct, or a loss if the direction of the transaction is chosen incorrectly. The quote chart for each such pair is an online chart of the movement of currency pairs that fall into the trading platform from liquidity providers.
Online Forex exchange rates are always available on the official FxGen website in the Online Quotations section, or in Client’s Dashboard . You can purchase a currency pair for trading right now by opening a trading account in your account.