OCTAFX forex trading can be the only way to make a decent profit. All forex trading currencies are quoted in pairs, one against the other. Their names are given as the three-letter abbreviation known as the ISO code, where the first two letters indicate the country, and the third is the name of the currency. Depending on the forex trade, currencies are divided into three main categories.
The most exchanged are generally referred to as majors which include the US dollar, the euro, the British pound, the Japanese yen, the Canadian dollar, the Swiss franc, the Australian dollar and the New Zealand dollar. Big pairs include the US dollar and another currency from the above list, for example, EURUSD, USDJPY, USDCHF. The currency rate is always the value of the base (first) currency expressed in the quota (second) currency. In OCTAFX Forex trading there are two prices given-Bid and Ask-the former shows how much of the quote currency is needed to sell 1 unit of the basic currency and the latter shows how much is required to buy it in OCTAFX forex trade. Ask price is higher than the bid price. The difference between the two prices in OCTAFX forex trading is referred to as spread, which is generally expressed in pips or points.
How can we start trading OCTAFX forex trading?
Essentially, all you need to do to start trading OCTAFX forex is to open your account and download and install your trading platform or sign in to your MT4 or cTrader web-based terminal based on OCTAFX forex. You can also download the android app of OCTAFX forex trading from its website or from google play store.
Further details and reading material can be found on the OCTAFX forex trading website.
Thank you and best of luck 🙂