Forex market is a place where market participants perform buying and selling operations of currencies. Currencies are traded in pairs. This means that in a currency pair one currency is the product and the other one is the money with which it is bought or sold. The one that stands first is the product, the one in the second place is the money, which are known as base and quote currencies, respectively. Forex trading is managed by tracking live currency charts reflected on a trading platform that is offered by a broker.
Trading on Live Currency Charts
Each Forex trading broker provides its customers with one or more trading software that allow them watching current prices of the currency pairs. Based on the live currency charts movement, the trader decides what currency positions to open or close so as to have profit.
There are several types of trading charts, among which the most popular ones are bars, candles and lines. They are different from each other in terms of structure and display, but in fact they provide the same information about currency movements.
The success of trading greatly depends on what time frame a trader chooses. Actually, each trading strategy requires a specific time frame, ranging from one minute to one week or even one month.
Live Currency Charts on NetTradeX Trading Platform
IFC Markets offers NetTradeX and MetaTrader 4 trading terminals for trading. The live chart of your preferable currency pair will reflect within several seconds by a simple click on the trading instrument. You can select one of the three chart types – bars, candles or lines. Time frames range from one minute to a week.
IFC Markets offers its partners to use live charts widget for free. The partner can generate live charts widget for currency pairs and other instruments in his website or blog, through which their visitors will be able to see current market movements.
NetTradeX trading platform provides percentage charts. The user has an opportunity to display the dynamics of the change of several (up to 10) financial instruments on one chart. The dynamics of each instrument is calculated in percent of the price change from the initial moment over time (common to all instruments of this chart). Thus, all curves of this chart require only one percentage scale. In addition, the terminal supports synchronous review of charts that is for simultaneous review of the chart history on several windows (with various financial instruments and time frames).
IFC Markets is a leading innovative financial company, offering private and corporate investors wide set of trading and analytical tools. The company provides its clients with Forex and CFD trading through its own-generated trading platform NetTradeX, which is available on PC, iOS, Android and Windows Mobile. The company also offers MetaTrader 4 platform available on PC, Mac OS, iOS and Android. You may compare the advantages of both platforms.
