Forex Quotes Live [The secrets]
One of the key aspects of financial markets is learning about Forex prices which greatly affect currency investments. A trader needs to know and understand what affects these Forex Quotes and how to get them in real time.
As we will see in this guide, to access Forex quotes you must follow these steps:
- Register with a regulated and secure CFD Broker
- Practice on the Demo account to become familiar with the platform
- Make the minimum required deposit and have access to the Forex quotes on the real market
By following these steps you can invest in Forex without paying commissions and in a safe and regulated manner.
Thanks to CFD brokers such as eToro in fact, it is possible to trade on the currency market following the Forex quotes in real time. Here are the best platforms available:
Min. Deposit: 50€
Min. Deposit: 100€
Min. Deposit: 50€
Min. Deposit: 250€
Min. Deposit: 100€
72.30% of retail CFD accounts lose money
Min. Deposit: 250€
Forex Quotes explained
In the financial market, Forex quotes show the price of many currency pairs, and more precisely the market price of one currency with reference to another currency.
Forex prices are always in pairs and involve the purchase of one currency by selling another. Each Forex pair has a base currency and a quote currency. The base currency is the first symbol of the pair and the quote currency is the second.
Let’s take an example by looking at the most important Forex pair: EUR / USD. First we notice that there are 2 currency codes or symbols. The EUR is the currency symbol for the euro of the European Union. The USD represents the US dollar.
Currency codes are abbreviations to identify all currencies in circulation and consist of 3 letters. The first 2 letters represent the name of the country, the last letter represents the name of the currency of that particular country.
Forex quotes consist of two prices for each currency pair: Bid and Ask. There are many ways to identify these two prices, which are very close to each other, differ by a few pips.
The pips are the spread, the difference between supply and demand, or the intermediary’s gain, very important in Forex Trading and refer to the fourth decimal place (sometimes the fifth).
For example the EUR / USD pair may have a sell price of 1.1700 and a buy price of 1.1703, in this case the spread is 3 pips.
How to find Live Forex Quotes
Forex quotes are provided by brokers and to find them it is necessary to choose a reliable intermediary who has quotes that are faithful to the market and with low spreads, essential for investing in Forex with profit.
CFD brokers allow you to trade on any market, including Forex and offer excellent quotes, but they must have these characteristics:
- CFDs, contracts that allow you to trade on any currency pair
- Don’t charge commissions
- Have at least one license issued by CONSOB or CySEC
- Use a trading platform with international assistance
To buy or view a Forex pair on one of the platforms offered by these online brokers, you need to:
- Buy the CFD of the Forex pair we are interested in to earn if prices go up
- Sell the CFD of the Forex pair we are interested in to earn if the prices go down
When the price reaches the desired quotation, the operation is closed and any net profits are collected, without commissions.
Where to find the best live quotes
To find the best Forex quotes you need to choose the best Forex Brokers and to find them you need to analyze the platform offered, the spreads, the speed of execution and many other factors.
OnlineTradingCourse.net has carried out this analysis for you and has chosen the brokers with the best Forex quotes on the market: eToro, ForexTB and IQ Option.
eToro, intuitive platform
eToro is a very popular financial intermediary, the most widespread in the world, with a subscriber base of over 10 million.
Its reliability is confirmed by the CONSOB license and by numerous other authorizations. In its trading platform, one of the most intuitive on the market, Forex quotes are excellent and with low spreads, here is an example below:
To trade EUR / USD you need to click on “Invest”, decide whether to Buy or Sell the Forex pair and how much to bet in the single operation.
If you do not like “manual” trading but prefer automatic trading, you should know that eToro has developed a trading system that allows you to copy the operations of the best investors in the world (on eToro).
This function is called Copy Trading and to access it is necessary:
- Register on eToro
- In the “People” section you choose the traders to copy, based on how much they earn
- With a click, Copy Trading will copy the operations of the chosen traders into your account
At that point you will get the same returns as these trading experts (in proportion to the investment made), at no additional cost.
But what are these returns? We show some of them to understand which figures we are talking about:
Click here and choose which trader to copy
Both “manual” trading and “automatic” Copy Trading can also be tested on a free Demo account, where there is no risk, because in the Demo the money is virtual.Click here to sign up for free
For more details you can read our full eToro review.
ForexTB, great support
ForexTB is a broker with excellent Forex quotes and has always helped its traders to achieve high profitability in a short time, focusing on support and training.
Authorized by CySEC, it can operate regularly throughout Europe and to satisfy all investors, it offers two trading platforms, both free and very professional:
- Metatrader 4 is a platform with numerous tools available, which meets the needs of the most experienced traders
- The web platform is simple and accessible from any browser, without making any downloads
Below we see the quotation of EUR / USD on the ForexTB web platform:
To trade, simply click on Sell or Buy and decide how much to invest in the operation.Try the platform for free by clicking here
The training we mentioned initially takes the form of a Trading Course that explains the basics of Forex and online trading in a very clear way, we are talking about the most downloaded basic course ever, a reading that can make the difference to become a trader and is totally free.Click here and download the trading course for free
ForexTB also offers real operational support. Send free Trading Signals processed by Trading Central to all investors. These are indications with a success rate of over 70% and can be obtained for free thanks to the official link below:Click here to get free trading signals
Read our ForexTB review for more information.
IQ Option, only 10€ deposit
IQ Option tried to make access to Forex quotes and trading on this and other markets much cheaper. The minimum deposit required to open a real account is in fact only 10 Euros!
With IQ Option it is therefore possible to get excellent Forex quotes and trade on the real market by investing only a few Euros.
The security of this broker is guaranteed by CONSOB and to learn how to use the trading platform it is not necessary to invest anything, there is a free and unlimited Demo account, perfect for practicing without taking risks.Click here and access the IQ Option Demo account for free
IQ Option provides a very advanced trading platform, which despite the wide choice of tools available, is really simple to use.Try the IQ Option platform for free
To improve the preparation of its users, IQ Option offers free access to an educational area full of content and in-depth material.Click here to register on IQ Option (official link)
If you want to know more, you can read our review on IQ Option.
Forex Quotes: the main ones
The Forex quotes of the major currencies are for the 4 most traded pairs on the market, which are EUR / USD, USD / JPY, GBP / USD, USD / CHF.
Although these currencies are mainly traded in “institutional” transactions, they are also among the most traded for speculative reasons by traders who use the most profitable Forex strategies to seek profit.
Although the major pairs are considered only the four, some believe that the 3 pairs USD / CAD, AUD / USD and NZD / USD should also be considered as Major.
The EUR / USD pair is the most traded currency pair in the world and accounts for over 20% of all global Forex transactions. USD / JPY follows in second place, in third we find GBP / USD and USD / CHF is in last position.
Due to their commodity-based economies, the volumes reached by USD / CAD, AUD / USD and NZD / USD often exceed the trading volumes of USD / CHF and sometimes even GBP / USD.
Read also: Forex Career
EUR/USD Live Forex Quotes
EUR / USD is undoubtedly considered the queen of Forex pairs, with a very large trading volume. It must also be said that all exchanges where the US dollar is present are far much richer than those where it is not present, called crosses, or exotic if they include secondary currencies.
Here are the live prices of the EUR / USD pair:
USD/JPY Live Forex Quotes
The value of the US dollar has been pegged to the Japanese yen for a long time and this pair is certainly among the most important when making accurate Forex predictions, because with its fluctuations the yen influences the global economy.
Here are the live Forex quotes of the USD / JPY pair:
USD/CHF Live Forex Quotes
The CHF (Swiss franc) is another very important currency, especially due to the Swiss economic system, full of prestigious banks and financial institutions.
The value of the Swiss franc is not directly linked to the EU, so this pair can be used as a hedge in times of volatility.
Here are the real-time Forex quotes of the USD / CHF pair:
USD/CAD Live Forex Quotes
The Canadian dollar is notoriously weak against its American rival but the trade exchanges between the two countries make this pair very important in the world economic balance.
Here are the live prices of the USD / CAD pair:
AUD/USD Live Forex Quotes
The Australian dollar and the US dollar are also commonly traded, especially because with this Forex pair it allows you to expose yourself in a geographic area very far from the United States, without having to buy currencies such as the Chinese Renminbi, which is definitely too volatile.
Here are the real-time Forex quotes of the AUD / USD pair:
NZD/USD Live Forex Quotes
Since the New Zealand economy is heavily based on commodity prices, this is one of the currency pairs that could be an ideal solution for traders who are looking to take a more conservative approach away from Western economic events.
Here are the real-time prices of the NZD / USD pair:
Forex Quotes: How does it work?
Major currencies are all floating currencies. This means that the prices of the main pairs, visible in the Forex charts, are determined by the supply and demand for the respective currencies.
Central banks can intervene to control the price, but generally they do so only when it is necessary to prevent it from rising or falling so much as to cause economic damage.
Supply and demand are influenced by the economic or fundamental conditions of each country, by the interest rates and by the country’s growth forecasts. But the trend of Forex prices is also greatly influenced by real speculations, that is, by traders who try to make money with Forex, investing in this volatile market, only to profit from the fluctuations that characterize it.
This guide has shown how to get Forex quotes in real time, what influences the prices of currencies and which are the main pairs traded on this liquid market.
If you have little trading experience it is better to start from a Demo account to access Forex quotes, after practicing with the chosen platform, you can make the minimum deposit required by the Broker and move on to trading with real money, which certainly offers greater satisfaction.
Here are the official links of the free Demo accounts offered by the best Forex brokers:
- Access the eToro Demo account for free by clicking here
- Register on ForexTB and try the Demo account by clicking here
- Access the IQ Option Demo account for free with this link
These are the prices of the currency pairs available on Forex.
You need to access a safe and authorized Forex Broker.
The main Forex quotes are for pairs: EUR / USD, USD / JPY, GBP / USD, USD / CHF, USD / CAD, AUD / USD and NZD / USD.
CFD brokers like eToro allow you to follow Forex quotes in real time and are safe and very reliable.