Forex Trading Philippines and Etoro Trading

You sell one currency to buy another in forex trading. The rate of exchange tells you how much quote currency you’ll need to buy base currency. You want to buy the base currency and sell the quote currency if you have a long position. In the last scenario, you would wish to sell US dollars in order to buy British pounds.

The foreign currency market, which trades over $5 trillion a day, is by far the largest financial market on the planet. This market allows for the electronic exchange of currencies. As a result, there is no central marketplace for foreign exchange transactions. It happens instead over-the-counter (OTC).

As a result, currency transactions are not restricted to a single exchange. Traders can conduct these transactions over computer networks from anywhere in the world.

Another distinguishing feature of foreign exchange is that it has no time constraints. The market is open twenty-four hours a day, five days a week. Global currency trading takes place in the world’s most important financial hubs, including London, New York, Tokyo, Sydney, Zurich, and others.

Therefore, there are no time zone limits in forex trading philippines. Consider this: when trading in the United States concludes, trading in Tokyo begins anew.

Although the forex market is available 24 hours a day, it is not always beneficial. So, when is the ideal time to trade forex in the Philippines? Check out this article to find out!

Best Forex Trading Hours In The Philippines:

Obviously, the greatest time to trade forex in any country is when the market is at its most volatile and liquid. The Philippines are in the same boat. As a result, it’s not surprising that the periods when trading sessions overlap are some of the finest times to trade forex. There is a lot of order activity during these times, as well as a higher exchange rate.

Timing of overlaps: The London/New York overlap trading hours are from 9:00 p.m. to 12:30 a.m. PHT.

The Tokyo/London overlapping trading hours are from 02:00 PM to 04:00 PM PHT.

The London/New York session crossover is the most significant of the overlaps. The most active currency pairs during this time period are the CAD/USD and EUR/USD.

eToro Trading:

eToro touts itself as a trading platform with a social media component. eToro has been dubbed the “Facebook of Trading” by several users.

It’s a trading platform that lets you trade equities, indices, commodities, currencies, ETFs, and cryptocurrencies using CFDs and non-CFDs.

This section delves into the numerous approaches and words used by the etoro trading function. Even as a casual investor learning the many ins and outs of the trading business, studying everything in this area can help you use the app better as a social and cryptocurrency trading platform.

Do you want to trade on eToro?

With eToro, you may trade the following:

  • Commodities
  • Cryptocurrencies
  • Currencies \sETFs \sIndices
  • Stocks

Fees for trading?

Spread costs, currency translation fees, crypto currency transfer fees, leveraged trading fees, withdrawal fees, and inactivity fees are all ways that eToro makes money.

Crypto or Cryptocurrency Investing:

With the help of the applications’ analysis tools and advanced interactive charts, you may trade a number of the world’s biggest cryptocurrencies and crypto crosses, as well as stay up to speed with each crypto coin’s price updates.

BTC, ETH, ADA, BNB, and IOTA are some of the most popular cryptos that can be traded on eToro.