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What is Forex?

Foreign Exchange, commonly know as Forex or FX, is the largest and most liquid market in the world with roughly $5 trillion traded on a daily basis. With no set exchange hours, you can trade currencies 24 hours a day, 5 days a week.

Foreign exchange prices move on various factors such as Geo-Political events, economic stimulus from central banks and speculation on future events. The Foreign Exchange market has a multitude of participants including central banks, hedge funds, multinational corporations and individual investors.

Candlestick Forex

Tips on Forex

  • Open 24 hours, 5 days a week
  • World's largest market
  • Deep liquidity
  • Tight spreads
  • No hidden charges
  • Fast execution

Tips on Forex

  • 1 CFD FX lot has a notional value of 100,000
  • Currencies are always traded in pairs
  • The first currency in a pair is known as the 'base currency'
  • The second currency in the pair is known as the 'quote currency'
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Example 1

EURUSD

  • If you trade EURUSD and buy, you're buying Euros and selling US Dollars.
  • Buying 1 CFD lot of EURUSD at 1.1800 means buying 100,000 Euros and selling 118,000 US Dollars.
  • If EURUSD moves from 1.1800 to 1.1850, you make 50 pips ($500 profit). If it drops to 1.1785, you lose 15 pips ($150 loss).
Example 2

EURGBP

  • If you trade EURGBP and sell, you're selling Euros and buying Sterling.
  • Selling 1 CFD lot of EURGBP at 0.9000 means selling 100,000 Euros and buying 90,000 Sterling.
  • If EURGBP rises to 0.9025, you lose 25 pips (£250 loss). If it falls to 0.8940, you make £600 profit.

ToroCFD is the trade name of ToroCFD (SC) Ltd. ToroCFD (SC) Ltd is a company incorporated and registered under the laws of Seychelles with Company number 8430368-1 having its registered address at CT House, Office 9A, Providence, Mahe, Seychelles and principal place of business at CT House, Office 8G, Providence, Mahe, Seychelles. ToroCFD (SC) Ltd is authorized and regulated as a Securities Dealer by the Financial Services Authority under Securities Dealer license number SD142.

Margined FX and contracts for difference are complex leveraged products which carry a high level of risk and can result in losses that exceed your initial investment. We recommend you seek professional advice before investing.

This website and any information on this website is not intended on offering investment services to residents of certain jurisdictions, including the United States of America, Belgium, Spain, Iran, North Korea, Myanmar, or to residents of other countries or jurisdictions where such distribution or use would be contrary to local law, or domestic regulations classify such investment offering as prohibited. Any analysis, opinion, commentary, research-based material or other content on this website is for information and educational purposes only and is not, under any circumstances, intended to be an offer, recommendation, advice or solicitation on behalf of the Company for any financial services.

Key Facts Statement

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CFDs and FX are leveraged products and carry a high level of risk to your capital. These products may not be suitable for all clients, so please ensure you fully understand the risks involved.