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The first truly intuitive Forex trading platform. Download or free, practice, and get trading! Welcome to the future o Forex trading. No more complicated charts, unfriendly platforms and confusing language!
What is Forex ?
Forex (short or Foreign Exchange) is real-time buying o one currency and selling o another). One o the biggest trading markets in the world, Forex allows people to trade one currency or another and make a profit by trying to determine which currency's value will increase by the end o a determined time (such as fifteen minutes after placing the investment). For example, one could choose that by 4 pm the US Dollar will be worth more than the Euro. Forex is considered the largest financial market in the world; it is accessible to any individual (over 18, o course) wishing to add a little excitement to their daily life!
Forex trading may sound daunting at first, but the basics are quite simple. To start with, remember that the first currency listed is called the "base currency." A base currency is usually the US dollar. People (traders) will usually pit the USD against another currency say, or example, a Japanese Yen.
To sum up: i a currency quote goes higher, this increases the value o the base currency. A lower quote means the base currency is weakening.
Once you have downloaded the software and you are logged in you will see our big icons at the center o the lobby screen, these represent our variations of eToro's trading interface. Clicking an icon will take you to the trading arena.
Forex Marathon
Once you've clicked on the Forex Marathon icon you'll enter the marathon arena. First, choose which currency you wish to buy: US Dollar, Euro or British Pound (Buying a currency means you expect this currency to strengthen against the other currency.
After you've chosen your currency, you'll see the currencies you can compete against. Choose from these options. Then, you'll select from the right side the amount you wish to place. Once you've selected an amount, on the bottom right o the screen you'll see an "open trade" button appear. Click it and a new window will load, telling you how many currency pair units you are buying or the amount you placed and at what exchange rate (For example, i you chose USD against EUR, the window will tell you how many USD/EUR are bought in this position and at what exchange rate). That's it! All that's left or you is to sit back and watch your money move.
Don't forget, you are able to close your trade anytime you wish. To close a trade, simply click on the "Close Trade" button in the trade arena. In the bottom center o the same page there is a box that will tell you the exact amount o your profit. Remember, the trades you open will remain open until you decide to close them or until the end o the working week when the market closes and they will be closed automatically. You can also open additional trades simultaneously. To do so simply click the lobby button, and chose your next trade.
Dollar Trend
this feature lets you choose i you expect the US Dollar to rise or all against the other currencies. Select rise i you think the US Dollar will increase in value against other currencies or select all i you believe the US Dollar will decrease in value against other currencies. Select amount and place the trade.
The lower part o the screen shows you the details o the trade. Click on Close Trade when you wish to close the trade, or click on Lobby to return to the lobby.
Globe Trader
In this arena setting, you choose your currency pairs at the bottom o the screen, using the arrows. Once you've decided the amount o money to place, a small window will appear, announcing the amount o currency pairs and the rate or this trade. Click "Start Trade" and you're in the game! In Global FX Trade a wire will connect the competing countries. A box on top o the wire will let you how you're trade is doing in terms o profit. On the lower left on the map you will see a more detailed account o what is happening. Click on Close Trade when you wish to close the trade, or click on Lobby to return to the lobby.
Forex Match
In this game you play rope pulling! Or rather, it's your currency against the other currency. On the left side o the screen you can set the currencies and the amount. In this game, though, there's more (coming soon): see the "Set Trade Close" on the left side o the screen? Here you can actually set the limit o the maximum amounts you gain or lose. For example, i you set your profit limit to $20, your trade will automatically close once you reach that amount. Otherwise, click on Close Trade when you wish to close the trade, or click on Lobby to return to the lobby.
Trading Log
Here you'll find details o all your activities: The "Active Trades" tab shows .the currently active trades. You can close a trade directly from this screen.
The "History" tab shows ... The history o all your closed trades, sorted by their open time.
Championship
When you logon to eToro another box will appear to the left o the lobby. This is the championship section o the community module. eToro holds periodic championship challenges! And the best thing is, you're automatically registered when you logon to eToro. The game is simple: the trader who amassed the most money by the end o the day is the champion! The top traders win great prizes.
Chat
Click on the "Chat" tab on top o the community module. You are now in the chat section, where you can communicate with friends and fellow traders from around the world. Using the text box, you can chat with someone privately or publicly. Chat anytime you want and compare notes, advice or even just the weather!
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