Foreign exchange trading is a foreign currency pair composed of the currencies of two countries. The currency of the first country is called the base currency, and the currency of the second country is called the settlement currency.The code for the US dollar is USD, which is the most widely circulated and used currency for international trade settlement, and is the main currency in the world.
The rise and fall of the US dollar mainly depends on the economic situation in the United States, such as employment, inflation, GDP growth, interest rate decisions, import and export trade, and so on. We trade US dollars, mainly foreign exchange currency pairs, usually mainly trading seven major direct currency pairs including Euro US Dollar, Pound Sterling US Dollar, Australian Dollar US Dollar, New Zealand Dollar US Dollar, US Dollar Japanese Yen, US Dollar Canadian Dollar, US Dollar Swiss Franc, etc.
If the US dollar depreciates, the exchange rate of foreign currency pairs starting with the US dollar will fall. The exchange rate of 1 US dollar to other countries' currencies will decrease compared to before. So, for forex currency pairs starting with the US dollar, we can short SELL on the trading side and make money if the currency pair falls afterwards.
Starting with other countries, the exchange rate of currency pairs with the US dollar at the end will rise. One foreign currency can be exchanged for more US dollars than before. So we can go long on the trading side by clicking BUY, and once the currency pair rises, we will make money.
Foreign exchange currency pairs can be traded in both upward and downward directions, and investors with varying amounts of funds can trade them. And during the day, we can work diligently without worrying about missing out on market trends. At night, the market is active, with large fluctuations and many opportunities. We finished work in the evening and had ample time to observe and trade. Very suitable for domestic office workers to invest and trade.
If you want to trade foreign exchange, we need to search online for platforms registered and operated in other countries to open accounts for trading. It is best to open an account and trade on platforms registered and operated in countries such as the UK FCA, Australia ASIC, Ireland CBI, Japan FSA, and South Africa FSCA. It is best to choose an old platform that has been in operation for more than 10 years. The longer the operation time of the old platform, the better the user experience and reputation, and everyone is willing to support and support it for a long time.
Opening an account is very simple. We have prepared photos of the front and back of the account holder's ID card, as well as their registered mobile phone, email, and bank card. Then we go to the broker's official website, click on Register Real Account, and follow the required steps to register:
1. Find a legitimate broker, then go to the broker's official website and click to register a real account.
2. Fill in the required information for account opening, and the mandatory information must be true and valid.
3. Read and sign the risk disclosure letter through the risk assessment questionnaire.
4. Set account password, complete registration, but cannot deposit at this time, real name authentication is required first.
5. Upload photos of the front and back of the account holder's ID card, and after real name authentication is passed, deposit the funds.
6. Download the MT4 trading platform, log in to your account, and start trading foreign exchange.I hope it can help you. For more questions about foreign exchange investment trading, you can add WeChat to learn more.
Kind reminder: Investment carries risks, so choose with caution.After reading the introduction of "how to make money when trading foreign exchange and encountering the depreciation of the US dollar" in the above content, everyone should have a clear understanding. I hope it is helpful to everyone. If you want to learn more about how to make money when trading foreign exchange and encountering the depreciation of the US dollar, please follow Dawang Finance website. We will provide you with professional answers and assistance.