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How Forex trading works on Olymptrade

Written by Maya

In this article, you’ll learn how Forex trading works, how to place a trade, and what to expect before you start.

⏱️ Forex - FX

  • Forex (FX) is one of the trading modes available on the Olymptrade 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.

Trades made on Forex are not limited in time. A position can be closed manually or automatically through Stop Loss, Stop Out and Take Profit.

⚙️ Minimum & Maximum Trade Amount

The minimum investment amount is $1 or €1.

The maximum trade amount will depend on your account's status:

  • Basic Status: the maximum trade amount is $2,000 or €2,000.

  • Smart Status: the maximum trade amount is $3,000 or €3,000.

  • Pro Status: the maximum trade amount is $4,000 or €4,000.

  • Elite Status: the maximum trade amount is $4,000 or €4,000.

To learn more about account statuses, see this article.

✨ FX Features

📈 Take Profit

  • A service for automatically closing a profitable trade.

  • The trade is closed automatically after the profit reaches the assigned value, 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.

🛑 Stop Out

  • A service for automatically closing a losing trade.

  • The Stop Out will protect your deal from losing more than the invested amount.

💹 Leverage

  • Leverage multiplies your investment amount.

  • The leverage value shows how many times the total trade volume will increase.

Let’s say you invest $100 using an x500 leverage. Your total trade volume will be $50 000 ($100 x 500).

🧮 FX Deal profit calculation

To calculate the result of your FX deal, you should consider:

  • The difference between the opening and closing price.

  • The value of the investment.

  • The size of the leverage (multiplier).

  • Commissions.

Forex commissions depend on several criteria, such as the trade amount, leverage, asset specification, etc. The commission is shown along with the rest of the information about the trade.

ℹ️ More information about FX

  • Explore our educational resources to enhance your understanding of Forex (FX):

    Learn the fundamentals of Forex with our comprehensive trade guide here.

Dive into the world of FX strategies. You can use these strategies and gain valuable insights to formulate your unique approach in the dynamic FX environment here.

Ready to trade on Forex?

Start trading
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