22bitbank

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Forex Trading

Trade over 40 major and minor Forex pairs on either the Meta Trader platform.

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Why Trade Forex with 22bitbank

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Lightning Fast Execution

Our execution servers are located in Equinix data centres, where most of the world's financial institutions are hosted, ensuring optimal performance at all times.

DEDCATE

Personal Customer Support

Find your feet with our two personalised account offerings. Our multilingual team is available to help you navigate the financial markets. You can trade at your own pace knowing we are only a phone call away.

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Global Market Opportunities

Expand your portfolio and access over 200 financial instruments across a large range of asset classes including Forex, Indices, Commodities and Shares.

Don’t just take our word for it

See what our clients say about us

Excellent

5/5

Based on 561 reviews

Jameson
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I can say that the platform is perfect, with fast order execution, low spreads, and fast withdrawal. I highly recommend it.
Harrison
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Does anyone have any information to tell me if it is worth investing in bitcoin? I have been informed of a recent increase and am still undecided on what to do.
Daniel
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Many people advised me about 22BitBank.

Well, I have no problem with withdrawal and I can only say thanks to the support, which has helped me every time I’ve needed them. Focus on the current situation Amazon markets. Amazon is expected to rise.
William
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I have just opened an account 22BitBank
In my opinion this could be the best platform. The 22BitBank platform is a really safe option to invest in different markets and CFD.
Aaron
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Platform that offers professionalism, security, low spreads and excellent leverage. I don’t think anyone wants anything else from all of this. It’s also easy to use even for beginners.
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Apply for a live account in a few minutes or try a free demo account

What is Forex Trading?

The FX market is considered to be the most liquid market in the world. Forex is traded in currency pairs and is traded over the counter (OTC), this where trading occurs between two parties directly without the use of a central exchange. Forex pairs can be traded on different timeframes ranging from seconds to months. Market movements occur within FX and can cause the price to fluctuate. This can be due to external factors affecting the price of a currency, such as politics.

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Trading Forex Currency Pairs

EUR/USD

The EUR/USD is the most heavily traded currency pair in the market, contributing 24% to the daily forex trades made in the OTC market in 2019. This particular currency pair represents two of the worlds largest economies – the European market and the U.S., therefore, making it the currency pair with the tightest spreads due to its high liquidity.

USD/JPY

Also known as the Gopher this currency pair is the second most traded within the FX market. The Yen is mostly affected by factors which hit the Asian stock market. The Federal Reserve, as well as the Bank of Japan, will have an influence over the market movement for USD/JPY.

USD/CAD

The USD/CAD is also known as the Loonie (this is due to the loon bird which makes an appearance on Canadian dollar coins) and correlates with commodity prices, oil in particular as this is Canada’s main export. It is also affected by the interest rate differential between the US and Canada.

USD/CHF

The Swiss Franc can be used as a safe haven for most currency traders and will appreciate in value when markets become more risk-averse, and lose ground when risk appetite increases. This pair is frequently traded during geopolitical events and economic crisis.

AUD/USD

The AUD is recognised as another commodity currency due to the country’s exports in metals and minerals, therefore, it displays strong trends due to the cyclical nature of the commodities. You will be able to see the value of the AUD rising when commodity prices rise which is different to other currencies such as the USD. In this case, traders will most likely go long when trading the AUD/USD.

GBP/USD

The GBP/USD is probably the oldest currency pair in the FX, the pair is also known as the ‘cable’ and refers to the telegraph wires used to send bid and sell orders between London and New York. Both the USA and the UK have large employment numbers and both centre around the service sector heavily, which has an overall effect on the annual GDP of both countries.

FAQ

Forex or FX is an acronym for foreign exchange, meaning the currency belonging to a country and/or market. In trading, forex relates to the buying and selling of these currencies in order to make a financial profit when the value of those currencies change. The forex market is the world’s most liquid market with daily trading volumes exceeding five trillion dollars; which is why it’s so attractive to investors.

Advantages of trading Forex

  • The largest most liquid financial market.
  • Some of the lowest costs involved in trading with highly competitive spreads on offer.
  • Trading on leverage can enable traders to profit from incremental price movements.
  • Open short and long positions in the market with a relatively small initial deposit.

Disadvantages of trading Forex

  • A highly competitive market with a significant number of buyers and sellers
  • Requires commitment from the trader in order to make well-informed decisions
  • Trading CFDs using large leverage could also mean large losses if the market moves against you

Read our guide on how to start trading Forex and enter the financial markets with confidence.

US Dollar vs Japanese Yen (USD/JPY)24 hours
US Dollar vs Swiss Frank (USD/CHF)24 hours
US Dollar vs Canadian Dollar (USD/CAD)24 hours
Euro vs US Dollar (EUR/USD)24 hours
Pound Sterling vs US Dollar (GBP/USD)24 hours
Australian Dollar vs US Dollar (AUD/USD)24 hours

 

The foreign exchange trading day is broken down into interbank sessions. The sessions are in order of open; New Zealand, Sydney, Tokyo, Frankfurt, London, and New York. Click here to read our guide on forex market hours.

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FUND & TRADE

Fund account with as little as €100 and start trading the global markets.