What is Forex?
Have you ever wondered what is the biggest financial market on the Globe? The first transactions featuring gold coins trace back to the 6th century BCE. Today the Foreign Exchange market is a fully online, terminal-based system, also known as Forex or FX.
As of 2023, Forex operates as an over-the-counter (OTC) market with a daily trading volume of $7.5 trillion, more than all other markets combined.
Enter the Forex market with MetaTrader
MetaTrader is a trading software that you need to join the Forex market. Sign up on Headway to access MetaTrader for free and start your journey.
How to log into MetaTrader 5:
- In the Personal Area, find My Accounts and open account details (real or demo).
- Download a web or mobile version of MetaTrader 5.
- In the app, search for Headway, Jarocel.
- Use your trading account details (login and generated password) to log in.
- Select the server name: Headway-Real or Headway-Demo.
- Congratulations! You are in 🎉
👉 Find all MetaTrader login tutorials on our YouTube channel
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But what is a currency?
A currency is the main means of exchange to trade goods and services. Typically, it takes the form of paper bills and coins issued by a government.
Every currency has these traits:
In the modern Forex market, speculation accounts for approximately 90% of the trading volume, with most of it focused on the US dollar, euro, and yen.
Meet currency pairs!
A currency pair represents the exchange rate between two currencies, where one currency's value is quoted relative to the other. The first currency is the base currency, and the second is the quote currency.
