FenzoFx is the best Forex broker for trading currency pairs. Those who chose us as their prime broker can access major, minor, and exotic pairs.
Our platform provides more than 40 forex pairs, a one-stop solution for expanding your portfolio to new horizons.
If you are new to trading currency pairs, read this section thoroughly. Fx, short for Forex, is about exchanging one currency for another, which is always dealt in pairs. While we offer over 40 Forex pairs, each one represents the relative value of one currency to another.
The concept is to analyze the price chart of a currency pair, either from a technical, fundamental, or a combination of both, and speculate whether the instrument’s value will rise or fall.
There are three types of currency pairs based on their popularity and trading volume:
The popular trading currency pairs are called the ‘majors.’ These instruments benefit from a higher liquidity and trading volume than the minor and exotic currency pairs.
Currency pairs that do not include the U.S. Dollar are grouped as ‘minors.’ Minor trading currency pairs are less popular, so their trading volume and liquidity are much lower.
Currency pairs with one major and one emerging currency are labeled ‘exotics.’ For instance, the Turkish Lira or the African Rand are growing currencies grouped in exotic pairs with USD/TRY and USD/ZAR, respectively.
First and foremost, you will have access to a wide range of forex pairs when you choose us as your prime broker. But that is not just it. Below, we have listed five reasons why we stand tall in the crowd.
Paying less for spreads is a pillar of currency pair trading, especially for scalpers and day traders, who usually close deals with smaller pips.
ECN trading has been among the most popular trading accounts. But, at FenzoFx, we do not offer an ECN account in our endeavor to make trading simple. Therefore, you pay the spread (the difference between the ASK and BID price) plus a commission per lot, round trip: $4 on majors, $6 on minors and $8 on crosses.
FenzoFx earns from the spread and the spread only. There won’t be any extra charges or bills if you choose us as your prime trading partner.
The swap charges for all major currency pairs are set to zero. You won’t pay anything for trades opened overnight. This feature suits long-term traders, swing traders, position traders, algorithmic traders, and trend and contrarian traders.
How long it takes to open or close a trade is essential to success in trading markets. The lower and the faster the executions are processed, the better. At FenzoFx, all trades are executed in less than 50 milliseconds, making us an ideal and reliable forex broker.
Another pillar in trading is having convenient access to technical tools such as lines, Fibonacci, and indicators. Our decentralized platform gives you free access to live charts, economic calendars, and technical indicators, making the trading experience as pleasant as possible.
The Forex market is open five days a week, 24 hours a day. In other words, the FX world runs when the major banks are open. Furthermore, Forex is a decentralized market, with trading sessions divided into 4 regions: Sydney, Tokyo, London, and New York.
The trading week always starts at 5:00 PM EST on Sunday in Sydney and ends at 5:00 PM EST in New York. Interestingly, these regions overlap when approximately 2 hours are left from the session shift, overwhelming that period with a higher liquidity and trading volume. This is due to more traders participating in trading.
These trading sessions (Sydney, Tokyo, London, and New York) uniquely influence the dominant currencies relevant to that region.
For instance, the Asian session focused on USD/JPY because the Japanese banks and traders were active during that period. On the other hand, currency pairs relevant to the Euro, British Pound, and Swiss Franc are more volatile during London’s trading hours.
Additionally, markets such as gold, commodities, stocks, indices, and pairs with USD like EUR/USD usually make big moves during the United States session, specifically in North America and New York City.
Did you like what you read about our Forex trading services? Open your free account now to access a wide range of currency pairs with tight spreads, fast execution, and zero swap rates.
We are confident that you will like it here, whether you are a Seasons trader or just getting started. If you need help or have any questions, please do not hesitate to contact us.
Support is open 24/7. Or start straight away with a free demo.