Forex is a speculation-based market that’s traded in pairs. When you trade Forex, you buy or sell one currency against the other without physically owning them.
For example, if you believed that the price of EUR will rise against the USD, you’d place a BUY order. If you thought that the price of EUR will fall, you’d place a SELL order. If your prediction was correct, you’d make a profit, which would be equal to the difference between the open and the close price.
While the difference between the open and close price is your gross profit, you would also have to include your trading costs in the equation. The most essential trading cost is the spread and depending on the account type you choose, you may also be charged commissions.
Cronomarkets offers ultra-low pricing on all our accounts, therefore choosing an account type is a matter of personal preference. Our Classic account type enables you to trade with spreads starting from 0.0 pips and some of the lowest commissions in the market while our Premium account type features all-inclusive spreads and no commissions at all.
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