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Trading currency pairs

Trade the world’s largest financial market with spreads from as low as 0 pips*
*On a ThinkZero account. 

 

Industry leading spreads on currency pairs

 
Live currency prices
Markets Bid Ask Spread
Prices are indicative only. Live prices are only available for active traders.
  • Start trading EUR/USD today from as low as 0 pips.*

    *On a ThinkZero account

  • Create account

Learn how to trade currency pairs

Currency prices are constantly moving offering numerous trading opportunities on a daily basis. In currency trading, currencies are listed in pairs, e.g. EUR/USD, GBP/USD, USD/JPY. Unlike the price of commodities and shares, the currency market neither goes up nor down. What really happens is that the price of one currency moves up or down in relation to another.

The most common terms in curremcy trading are buy and sell, or going long and short. However, when you trade currencies online, you are neither buying nor selling real currencies. All you do is placing a bet on the direction in which a currency pair will move.

The amount of money made or lost on a trade depends on the market move and the size of your position. At ThinkMarkets, you can trade major, minor and exotic currency pairs with no minimum deposit requirement for a Standard account and just $500 for a ThinkZero account and up to 500:1 leverage.

Did you know that 29%

of our traders have also tried trading Bitcoin

Trading currencies on ThinkTrader

With over 550,000 users globally and more than 15,000 five-star reviews, our ThinkTrader platform has been designed to bring the power of a desktop platform to all your mobile devices.
 

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Trend Risk-Scanner

Find high probability trades and recommended target & stop loss levels with our powerful risk management tool.
 

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200 cloud-based alerts

No more missed opportunities. Get notified across all your devices when key market movements take place.
 

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Trading currency pairs with ThinkMarkets

 

Here’s why thousands of traders around the world choose to trade currency pairs with us

  • Innovative platforms

    Select the platform that suits your needs between the robust ThinkTrader, the next-generation MetaTrader 5 and the popular MetaTrader 4.

  • Superior mobile trading app

    Downloaded by over 550,000 traders, the ThinkTrader app offers an unparalleled trading experience across desktop, tablet and especially mobile.

  • World class support

    Our multi-lingual support team is here to assist you with all your questions 24 hours a day, 7 days a week via email, telephone and live chat.

Awards

ThinkMarkets awarded 'Best Value Broker in Asia' at the 2020 Global Forex Awards.


 

How currency trading works

In currency trading, currencies are quoted in pairs. Let’s take the most popular currency pair as an example, EUR/USD. The first currency (Euro in this case) is called the base currency and the second (USD) is called the quote currency. When you trade a pair you are speculating on whether the base currency (EUR) will strengthen or weaken against the quote currency (USD).

Currency prices are typically quoted to five decimal places. The most important decimal point to keep an eye on is the fourth, also known as pip. It is the number of pips we use to calculate the profit and loss.

Currency positions are traded in specific amounts called lots, which equals to 100,000 units of the base currency. It is also possible to trade in smaller amounts - mini, micro and nano lots sizes, corresponding to 10,000, 1,000 and 100 units respectively.

 

What influences currency prices?

There are three key factors that impact the prices in the currency market.
 

  1. Financial news

    Economic reports have a big effect on currencies. For that reason, the Economic Calendar is the trader’s best friend. It includes all scheduled news events and data releases, graded by importance.

  1. Political instability

    Currencies are sensitive to political uncertainty caused by events such as elections, referendums and political scandals.

  1. Natural disasters

    Acts of God, such as tsunamis, earthquakes and hurricanes, can cause significant price volatility in the currency associated with that region.

 

Who trades currency pairs?

Apart from banks, financial companies and professional traders, anybody with an interest to capitalize on daily market moves can access currency trading. The currency market is a decentralized global market. What that means is that there is no physical location where traders meet to buy or sell.

In such a market, it is technology that makes it possible for traders all over the world to deal directly with each other. Put simply, currency trading is a market without middlemen. All you need to participate in this fascinating and fast paced market too is a trading account with a reliable broker.

 

Advantages of currency trading

Currency trading has evolved into one of the most popular markets to trade. Here are the three key reasons why so many traders choose it.
 

  1. Available 24 hours

    From Sunday to Friday evening, the currency market is available for trading around the clock. This makes it ideal for traders who can only trade the markets on a part-time basis.

  1. Leverage

    When trading currencies online, you can control positions much larger than your capital by using leverage. This can lead both to larger gains and losses, which makes risk management a key part of every currency trading strategy. At ThinkMarkets, you can choose to trade currencies with leverage up to 500:1.

  1. Low starting capital

    Unlike trading on an exchange where the contract sizes are predetermined, when trading currencies online, you get to decide the size of your positions. This allows traders to start with the capital they feel comfortable with. At ThinkMarkets, you can start participating in the fascinating currency markets with no minimum deposit requirement for a Standard account and only $500 minimum deposit for a ThinkZero account.

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