Working hours of the forex market

The forex market (foreign currency) based on spot transactions is unique, if you compare it with other global markets. This depends on the fact that the negotiation is realized 24 hours a day, 5 days per week (ACM platform is open from Sunday at 23:00 to Friday at 23:00 CET). Financial centers are open and banks and other organizations achieve currency trading in all parts of the world, for a variety of reasons. […]

Quotation system of foreign currencies

Currencies are quoted in pairs, for example - EUR / USD or USD / JPY. The first “acronym”, currency in the pair is called “base currency”, while the second is called “counter currency”. The base currency is the one that will be used as “base” precisely for purchases and sales. For example, if you decide to buy EUR / USD, then you acquire Euros and sell U.S. Dollars. You do this if you expect the Euro to a record high against the U.S. dollar. […]