Forex

NOVOX offers over 50 foreign exchange currency pairs, with the most competitive spread and trading environment.
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Trading in foreign exchange is mostly conducted in an OTC market where one currency is exchanged for another at a consented rate of exchange. The foreign exchange market is the most active market in the world, with daily turnover exceeding $5trillion.


Essentially, foreign exchange trading is the act of buying and selling a currency for the purpose of investing in its value. Currency appreciation and devaluation are the result of the interaction of a series of factors.

Different from most of financial markets, the OTC market has no specific location or central exchange, which is operating in 24 hours a day through the global network with businesses, banks and individuals included.

The foreign exchange market is the most liquid in the world, which means spreads tend to tighten for most of the day and traders have the security expertise to execute positions and orders at all times. Governments, central Banks, financial institutions, companies and professional retail investors trades up to $5tn a day, making foreign exchange the largest financial market in the world. By comparison, average daily turnover on the New York stock exchange is only about $50 billion.

The trading example of foreign exchanges

Sell:EUR/USD
Your gross trading profit shows as follows:

The price of opening a position:

The price of closing a position:

Gross trading profit:

Open a position

The price of the euro against the US dollar (EUR/USD) is 1.1406/1.1407, and you decide to sell 2 lots (equal to €200,000) at 1.1406.

(The net value of your storage is 200.000x1.1406=USD228,120, and your trading account leverage is 1:400. Besides, the position-opening margin is USD$228,120/400=USD $570.3)

Close a position

A week later, the price of the euro against the US dollar falls to 1.1380/1.1381, and you decide to buy 2 lots at the stop-profit point of 1.1381.
Foreign exchange Standard account Xero account
Spread Spread Commission
EURUSD 17 1 7 USD
GBPUSD 19 3 7 USD
AUDUSD 18 2 7 USD
NZDUSD 20 4 7 USD
USDCAD 25 3 7 USD
USDCHF 20 4 7 USD
USDJPY 20 2 7 USD
EURGBP 21 6 7 USD
EURAUD 32 6 7 USD
EURNZD 35 7 7 USD
EURCAD 33 9 7 USD
EURCHF 25 6 7 USD
EURJPY 25 4 7 USD
GBPAUD 36 9 7 USD
GPBNZD 37 12 7 USD
GBPCAD 36 10 7 USD
GBPCHF 28 9 7 USD
GBPJPY 27 8 7 USD
AUDNZD 32 5 7 USD
AUDCAD 31 6 7 USD
AUDCHF 23 5 7 USD
AUDJPY 25 4 7 USD
NZDCAD 37 11 7 USD
NZDCHF 29 10 7 USD
NZDJPY 31 10 7 USD
CADCHF 29 10 7 USD
CADJPY 25 4 7 USD
CHFJPY 29 8 7 USD
USDCNH 170 50 7 USD
USDHKD 180 40 7 USD