AximTrade acts as an intermediary company that was registered by Saint Vincent and the Grenadines and is beneath the oversight of the Financial Services Authority (SVGFSA) regulator. It has been offering services for trading currencies, cryptocurrencies, and CFDs since 2020. AximTrade offers cent, standard, and ECN accounts that have high advantages, minimal deposits, and low spreads. “The Best” Forex IB Program (Africa and Asia) and The Best Forex Trading Platform Asia have been awarded AximTrade.

Trading Of Currencies Against Each Other 

The exchange of currency pairs also known as trading Forex as it is often referred to involves the process of buying and selling currencies on the website against each other. These pairs are arranged in a specific order and are broken into three groups: principal currency pairs minor currency pairs, and the more exotic currencies. In this article, I will focus on the most popular currency pairs because they are the most utilized across the Forex market.

For professionals and traders who are heavily invested in this Forex market, you will benefit from signing up to the Traders Union. The major pairs include the AUD/USD pair, the Australian Dollar against the U.S Dollar The EUR/USD Euro which is against the U.S. Dollar, the GBP/USD British pounds against U.S. Dollar, the USD/CAD, the U.S. Dollar against the Canadian Dollar, the USD/CHF, the U.S. Dollar against the Swiss Franc, and then USD/JPY which is the U.S Dollar against Japanese Yen. Several other pairs are considered major currency pairs like EUR/JPY and GBP/EUR however; they are not as widely traded as the previous six main pairs.

It Is Evident That All Of These Currencies Are Against The Dollar And Therefore That The Chart Tends To Move In The Same Direction

It is essential to set up your charts in the same order as above, with the AUD/USD EUR/USD, and GBP/USD as your top three charts, and USD/CAD, USD/CHF, and USD/JPY below them. Once you’ve got this setup, you will observe that the three charts at the top will generally follow the same direction, while the lower three charts will be moving in an opposite direction, almost mirroring one another. The USD/EUR and the EUR/USD are the most perfect examples of this setup since they mirror one the same way and it is because of this when trading these pairs, we should take the currency pair mirroring each other into account.

Concentration on Currency Pairs

I would like to concentrate on two currency pairs that beginners should be aware of: the USD/GBPY and the USD/USD. The reason I draw the attention of these two pairs is that while the GBP/USD (also called” the cable) is the most traded among the pairs, it is one of the more volatile, and must be treated with extreme care. It is not unusual for the GBP/USD pair to be in a direction very well and be able to randomly pull a reverse of the trend for 20-50 pip and then continue in the same direction. One thing to consider in setting the stop-loss point. It is advised when making the transition to currency trading to observe closely this currency pair and become familiar with the ways to trade it. Once you have it down, you’ll discover it to be very profitable.

Cryptocurrencies Are The Newest ‘Big Thing In The World Of Digital And Have Been Accepted As An Integral Part Of The Financial System

In fact, many have called it ‘the revolution in money. In plain English, the definition of cryptocurrencies is that they are digital assets that are traded between people without needing any central authority, the majority of which are made through special computational methods known as mining. The recognition of currencies like the US Dollar, Great British Pound, and the Euro as legal tenders is due to the fact that they were released by the central bank. Cryptocurrency, on the other hand like cryptocurrencies, do not dependent on the trust of the public in the person who issued them. As such, several factors determine its value.