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✨Forex
Forex is one of the trading modes available on the Olymp Trade platform. In this mode, you need to predict how the price of a selected asset will change. In addition, the profit on the trade depends not only on the invested amount but also on how much the price of the asset rises or falls.
🤔 Trading mechanics
This video will help you take the first steps in Forex trading on the Olymp Trade platform.
🎥Desktop Version:
🎥Application Version:
💰Minimum & Maximum Trade Amount for Forex Mode
In Forex mode, the minimum investment amount is $1 or €1.
The maximum trade amount depends on your current status:
- Starter Status is $2,000 or €2,000 without a multiplier and $1,000,000 or €1,000,000 when taking it into account.
- Advanced Status is $3,000 or €3,000 without a multiplier and $1,500,000 or €1,500,000 with it.
- Expert Status is $4,000 or €4,000 without a multiplier and $2,000,000 or €2,000,000 with it.
To read more about account statuses, check out this article!
⏳Trade Duration in Forex Mode
Trades made on Forex are not limited in time. A position can be closed manually or automatically upon reaching the values specified when setting a Stop Out, Stop Loss, or Take Profit.
🌟Forex Trade Features
- Take Profit
- Stop Loss
- Stop Out
- Multiplier
📈Take Profit
A service for automatically closing a profitable trade. After the profit reaches the assigned value, the trade is closed automatically, and the financial result is locked in.
📉Stop Loss
A service for automatically closing a losing trade. After the loss on a trade reaches the assigned value, the trade will automatically close at the current market price.
While Take Profit and Stop Loss may be amended on an open trade, both require to be set at a certain distance away from the current price level.
⛔️ Stop Out
A service for automatically closing a losing trade, thereby protecting the trader's balance from a negative value. The Stop Out level shows the amount of investment that shouldn't be at a loss from the deal to remain active and not automatically closed.
💹 Multiplier
A multiplier multiplies your investment amount by a certain amount. The multiplier value shows how many times the total trade volume will increase.
Let’s say you invest $100 using an x200 multiplier. Accordingly, the total trade volume will be $20 000 ($100 x 200 = $20 000).
As a result, the financial outcome of such a position will vary within a larger range than if you traded $100 using a multiplier of x100, x50, or lower.
It is important to know that the use of the multiplier increases not only the amount of the potential profit but also the risk level of the trade.
💱Commissions for Making Trades
When opening a Forex trade, a certain amount is deducted from the trader's balance. This amount depends on several criteria: trade amount, multiplier, asset specification, etc. The current commission is shown along with the rest of the information about the trade. However, the final payment may sometimes differ slightly due to the market situation.
Information about the minimum commission rate for opening a trade and other conditions can be found in the "Trading Conditions" tab of the "Assets" menu. You can access it through the "Help" section.
🤔How to Make an Accurate Forecast?
Find out how you can make your price forecasts more accurate through the use of technical and fundamental analysis on the Olymp Trade platform.
🎥 Forecast
📝Amount of profit factors
- The difference between the opening and closing price.
- The value of the investment.
- The size of the multiplier.
- Commission for opening the deal.
- Commission to transfer the deal on the next day.
🤔Profit calculations
The Forex trade result consists of the difference between the opening price and the closing price of the asset. In long trading, the trader earns a profit from the price’s growth. The short trading is the opposite, with the profit earned from the lowering of the price.
A simple formula will help you with that:
(Difference between the opening and closing of the trade / Current price) * Investment’s volume *Multiplier - Commission = Profit.
For example, a trader opened a long trade for USD/JPY. The opening price is 105,000. The closing price is 105,500. $100 was invested. Multiplier equals x500. Just like that, the trade volume is $50,000, with the opening commission of $4. Here's how to calculate the profit with the example: ((105,500 - 105,000) / 105,500) * 100 * 500 - 4 = $232.9
🎥 Calculate Profit
❓Why choose Olymp Trade Forex platform?
- More than 70 currency pairs and other assets with regular trends are available for trading. Best of all, traders earn money on these trends.
- You can select an optimal trading strategy even for small investments.
- The Take Profit and Stop Loss services will help you get the maximum profit and minimize losses.
- The advantage of trading on the Olymp Trade Forex platform is that the amount of profit from a trade is unlimited, and the maximum loss cannot exceed the invested amount.
- Olymp Trade Forex is suitable for both traders who prefer to make a large number of trades within a trading session and for those who like to close long-term trades.
🎥Forex Trade Benefits on Olypm Trade Platform
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