Forex Trading

Access 50+ currency pairs through CFDs with your Vantage account.

What Is Forex?

Forex, also known as FX or foreign exchange, is the global market where currencies are traded against one another. Traders buy and sell currencies in pairs, aiming to profit from changes in exchange rates.

For example, in a EUR/USD trade, you are buying the euro while simultaneously selling the US dollar. The quoted price shows how much of the quote currency (USD) is required to purchase one unit of the base currency (EUR).

The forex market is the largest and most liquid financial market in the world, with trillions of dollars traded daily.

Why Trade Forex CFDs With Ohio Markets?

The forex market operates 24 hours a day, five days a week, offering trading opportunities across global sessions. With Ohio Markets, you can trade a wide selection of Forex CFDs, including:

Major pairs (e.g. EUR/USD, GBP/USD)
Minor pairs
Exotic pairs (e.g. USD/JPY and more)

Ohio Markets allows traders to use leverage, enabling larger market exposure with a smaller initial investment. While leverage can enhance potential profits, it can also increase potential losses, so proper risk management is essential.

Forex prices are influenced by economic data, geopolitical events, interest rates, and global market sentiment. To help you trade responsibly, Ohio Markets provides essential risk management features such as:

Stop-loss orders
Take-profit tools
Negative balance protection

Forex Trading Strategies for Beginners

Successful forex trading goes beyond understanding currency pairs. Having a structured trading strategy is especially important for beginners trading Forex CFDs.

Below are some popular forex trading strategies to consider:

1. Day Trading

Day trading involves opening and closing trades within the same trading day. The objective is to benefit from short-term price movements while avoiding overnight market risks. This strategy is best suited for active traders and volatile market conditions.

2. Swing Trading

Swing trading focuses on capturing price movements over several days or weeks. Traders rely heavily on technical analysis to identify trends and potential reversals. This approach suits traders who prefer fewer trades with longer holding periods.

3. Trend Following

Trend following is based on identifying the overall market direction and trading in line with that trend. Tools such as moving averages, trendlines, and momentum indicators are commonly used to confirm trend strength.

4. Position Trading

Position trading is a long-term strategy where trades may be held for weeks, months, or longer. This strategy relies primarily on fundamental analysis, including economic indicators, central bank policies, and global political developments.