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Markets · Forex
Currencies are exchanged around the clock on business days, from the Asia-Pacific open to the New York close. Understand how pairs, pips and sessions work before you trade them.
What forex is
The foreign-exchange market is where currencies change hands — a decentralised network of banks, funds, companies and individual traders rather than a single exchange. It exists because the global economy does: trade, investment and travel all create demand to swap one currency for another.
For traders, FX offers deep, continuous two-way markets in the world’s major currencies. Prices respond to interest rates, economic data and sentiment throughout each global trading session.
Popular currency pairs
| Instrument | Bid | Ask | Change | Chart |
|---|---|---|---|---|
| EUR/USDEuro / US Dollar | 1.08239 | 1.08251 | +0.23%rising | |
| GBP/USDBritish Pound / US Dollar | 1.27410 | 1.27426 | −0.11%falling | |
| USD/JPYUS Dollar / Japanese Yen | 157.835 | 157.849 | +0.31%rising | |
| AUD/USDAustralian Dollar / US Dollar | 0.66627 | 0.66641 | −0.08%falling | |
| USD/CHFUS Dollar / Swiss Franc | 0.89905 | 0.89920 | +0.05%rising | |
| EUR/GBPEuro / British Pound | 0.84953 | 0.84969 | +0.09%rising |
How it works
Every FX price expresses one currency in terms of another. EUR/USD at 1.0824 means one euro buys 1.0824 US dollars. You always trade the base currency against the quote currency.
For most pairs a pip is the fourth decimal place. Position size determines what each pip is worth in money — the first calculation every new trader should learn.
Liquidity moves with the sun: Asia-Pacific opens the week, Europe takes over through the London session, and the US session closes the day. Activity is typically highest where sessions overlap.
The difference between bid and ask is part of what a trade costs. Spreads vary by pair and by market conditions, and typically widen around major news events.
Conditions
Compare bid and ask distances across currency pairs and see current account conditions inside the trading platform.
FX trades continuously from Monday morning Asia-Pacific to Friday evening New York, with brief daily maintenance windows possible. Exact tradable hours per pair are defined in the trading platform.
Market drivers
Next orbit
Open the platform and follow EUR/USD, GBP/USD and more through one connected workspace.