Forex

Getting Started

Take a look at the information below to help you understand Forex trading. If you have questions, don’t hesitate to contact our specialists by phone +61 283 113 231, email support@24htrading.co.uk or leave us a message below.

Understanding the Basics

Forex (Foreign Exchange Market) is the world’s largest currency market, trading around $4 trillion on average per day. This means dense liquidity – it is easy to buy and sell your positions. It is open 24 hours a day, 5 days a week, and there is no central marketplace. Forex is open to central banks, companies, individuals and Forex traders.

To understand how trading is done on Forex, you first need to understand that currencies are always traded in pairs. A EUR/USD position means you are exchanging euros for dollars. If the market price quoted for the pair is 1.23, it means 1 euro is worth 1.23 US dollars. The first currency is the base currency (euro), and the second is the counter currency (US dollar). If you decide to buy, it means that you believe that eventually euros will appreciate against dollars. In short, you are selling US dollars and buying euros. When euros have grown in value, you can sell them and receive more dollars than you bought euros for.

Advantages of Forex trading

By registering an account with 24htrading.co.uk, you’ll receive a number of benefits:

Trading with Leverage

Leverage allows you to magnify your investment by borrowing money from your broker. 24htrading.co.uk gives you the biggest leverage of 1:500 when trading Forex. It means that with a $100 you can control an asset worth $50 000. For more information, check Margin Trading.

24/5 Market

The Forex market is open 24 hours a day, 5 days a week. Trading occurs in four sessions: the Sydney session, the Tokyo session, the London session and the New York session. Our trading platforms and tools allow you to trade around the clock.

Liquidity

Forex is an extremely liquid market because there are high volumes of currencies being traded at each moment Or every single momment. However, liquidity for exotic currencies can be lower than for major pairs.

Pricing

There are no exchange fees, but you will need to cover the margin costs to open a leveraged position. There are no commissions, trade fees, account fees or advisory fees.
SymbolLeverage (max)Swap LongSwap ShortMax Order SizeSize of 1 LotSpreadTrading Hours
AUDCAD1:500-0.548-6.03320100,000floating00:00 – 24:00
AUDCHF1:500-0.909-6.56520100,000floating00:00 – 24:00
AUDJPY1:5000.428-5.65420100,000floating00:00 – 24:00
AUDNZD1:500-4.253-3.37320100,000floating00:00 – 24:00
AUDUSD1:500-1.459-4.0220100,000floating00:00 – 24:00
CADCHF1:500-2.971-4.6120100,000floating00:00 – 24:00
CADJPY1:500-1.903-3.80520100,000floating00:00 – 24:00
CHFPLN1:500-35.236-7.04720100,000floating00:15 – 23:55
CHFJPY1:500-6.079-6.07920100,000floating00:00 – 24:00
EURAUD1:500-10.186-2.03720100,000floating00:00 – 24:00
EURCAD1:500-5.897-2.94820100,000floating00:00 – 24:00
EURCHF1:500-4.903-5.04320100,000floating00:00 – 24:00
EURCZK1:500-0.806-0.80620100,000floating10:20 – 17:10
EURGBP1:500-2.932-2.22920100,000floating00:00 – 24:00
EURHUF1:500-16.661-4.38420100,000floating00:20 – 23:55
EURJPY1:500-4.012-4.19420100,000floating00:00 – 24:00
EURNOK1:500-39.37-23.62220100,000floating00:20 – 23:55
EURNZD1:500-11.4851.46220100,000floating00:00 – 24:00
EURPLN1:500-28.9780.5820100,000floating00:15 – 23:55
EURRON1:500-36.6456.71820100,000floating10:20 – 14:55
EURRUB1:50-221.31847242.29965320100,000750009:05 – 18:00
EURSEK1:500-39.772-41.04620100,000floating00:20 – 23:55
EURTRY1:500-89.69624.91555620100,000floating00:00 – 24:00
EURUSD1:500-5.108-1.31420100,000floating00:00 – 24:00
GBPAUD1:500-11.7690.2420100,000floating00:00 – 24:00
GBPCAD1:500-6.935-4.54420100,000floating00:00 – 24:00
GBPCHF1:500-6.057-7.12620100,000floating00:00 – 24:00
GBPJPY1:500-3.891563-5.00343820100,000floating00:00 – 24:00
GBPNZD1:500-12.8190.47520100,000floating00:00 – 24:00
GBPRON1:500-39.4961.46320100,000floating10:20 – 14:55
GBPSGD1:500-5.502-6.14120100,000floating00:00 – 24:00
GBPTRY1:500-105.16229.37520100,000floating00:00 – 24:00
GBPUSD1:500-5.927-2.4420100,000floating00:00 – 24:00
NZDCAD1:500-0.406-6.62320100,000floating00:00 – 24:00
NZDCHF1:500-0.794-6.94620100,000floating00:00 – 24:00
NZDJPY1:5000.533-6.07220100,000floating00:00 – 24:00
NZDUSD1:500-1.262-4.4420100,000floating00:00 – 24:00
USDCAD1:500-3.505-5.34920100,000floating00:00 – 24:00
USDCHF1:500-3.408-7.09920100,000floating00:00 – 24:00
USDCZK1:500-0.352-1.23320100,000floating10:20 – 17:10
USDHUF1:500-11.193-10.36420100,000floating00:20 – 23:55
USDJPY1:500-1.794-6.03420100,000floating00:00 – 24:00
USDMXN1:100-35.188120.431820100,000floating00:00 – 24:00
USDNOK1:500-22.682-39.39620100,000floating00:20 – 20:55
USDPLN1:500-22.871-7.62420100,000floating00:15 – 23:55
USDRON1:500-25.853-4.70120100,000floating10:20 – 14:55
USDRUB1:50-176.51519.22820100,000floating09:05 – 18:00
USDSEK1:500-24.468-57.95120100,000floating00:20 – 23:55
USDSGD1:500-2.476-6.98920100,000floating00:00 – 24:00
USDTRY1:500-82.21324.32320100,000floating00:00 – 24:00
USDZAR1:500-28.8759.68920100,000floating00:00 – 24:00

Choosing a Trading Platform

What platforms do we offer?

MetaTrader4 is the best trading platform on the market for performing technical and fundamental analysis. These platforms offer access to more than 900 instruments – Forex, indices, commodities, stocks, bonds, cryptocurrencies and CFDs. All information is displayed in easy to understand charts and you can trade and monitor your trades 24/7 on a variety of devices: desktop, mobile or tablet.

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Why do I need a trading platform?

MetaTrader has been designed with the trader’s interests in mind. It is easy to understand, nearly intuitive. It saves you time because you have everything at your fingertips: market information, instrument’s analysis, indicators. You can perform trades and set key levels with one click or tap. It’s important that you use the platform provided by your broker, as the bid/ask pride may differ and hence it is difficult to trade correctly with a generic MT4.

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How do I install it?

There are three types of platforms we offer, depending on the device you want to use it on: desktop, mobile and tablet version. To use MetaTrader on mobile and tablet, simply download the app from Google Play or App Store. To install the Client Terminal (desktop version) For Windows:
1. Download and launch installation wizard.
2. Choose a directory for installing the program and follow the installation wizard’s tips. After the terminal has been installed, it will run automatically.
To install the Terminal on Mac OS:
1. First install PlayOnMac – free application for easy installation of Windows applications on Mac OS.
2. Together with PlayOnMac, Wine will be installed – software that allows to run Microsoft Windows apps. Select the latest version.
3. Install the Terminal by downloading "mt4setup.exe" and launching the file. PlayOnMac will automatically open it.
Market may not be available on Mac OS.

Install

Setting Up Your Account

To start trading Forex with 24trading.co.uk, you’ll need to open a Live Account (Standard, Platinum, or VIP). Once registered, you can apply for margin trading. If you have never traded before, we suggest you learn the basics first by opening a Demo Account. In order to set up your account, click the “Open New Account” button on top of the page.

  1. To open an account, simply fill-in the registration form.
  2. Complete the verification process by sending us your ID and proof of residence documents.
  3. Add funds.
  4. Select currency pairs you want to trade.
  5. Decide on the position size.
  6. Choose order type.

You’re a Forex trader now!

Pay the absolute minimum. Be entitled to all your profits.

Pricing

Our pricing policy is extremely transparent. We have minimized all operating fees, so that you can be entitled to 100% of your profits.

No advisory fee

We do not charge anything for providing you with advice and tips on trading.
We do not manage your assets for you.

No commissions

Enjoy commission-free trading with 24htrading.co.uk.

No account fee

We do not charge anything for opening an account. The type of the account you open depends on the amount of your first deposit. You can upgrade your account by contacting us on https://24htrading.co.uk/contact/ or emailing support@24htrading.co.uk

No trade fee

We do not charge a fixed rate on any instruments.