The base currency is the first currency of the FX pair, and the second currency is called the quote currency. Forex trading currency comes in pairs, and you always have to sell one currency to buy another. Each currency in a currency pair is written as a three-letter code, which tends to consist of two letters representing the region and one letter representing the currency itself.
There are various types of Forex brokers in Forex market but you need to choose your broker carefully and as per your trading style. Most of the traders fail to choose the right one but Tpglobalfx as it is the best STP broker in the market I do select and I am using the scalping trading style. They provide me the lower spread from 0.01 pips, with instant market execution and smart bridge of technology and wide range of trading bonus and many others.
I don't prefer to trade a lot many currency pairs. For my trading I essentially trade EURUSD, EURJPY, NZDUSD and GBPUSD pairs. I fathom these FOUR pairs more as I have done an extensive research on them. To me it is a sharp idea to trade conceivably a couple of pairs. It urges us to welcome the attributes of that solitary match. For my trading I use Eurotrader platform. I like the broker's diagramming. It doesn't make any phony candles which is valuable for my analysis. It also provides ultra low spreads starting from 0.0 pip.
Forex is a profitable business. If you make a profitable plan you can be rich from this market. The more you give time to the market, the more it is possible to get rich. But only giving time can not give you the assurance of making money. You need to have enough experience and knowledge to become profitable. I am trading with TP Global FX. I always try to use all my time on this platform. Because I know that if I can give more time to the market, I can be rich. SO, Everyone should give time to the market as much as they can if they want to be successful.
There are lot of currency pair in forex market. But I prefer to trade in major pair like EURUSD, GBPUSD, USDJPY. They are quite volatile than other currency pair. Moreover, my broker Eurotrader provides low and tight spread in major pair. I am scalper, So, I need low spread for my trading strategy. However, trader should trade in all pair. Mastering one or two pair is enough to become successful.
