Chapter 01. Introduction 05 Chapter 02. The basics of forex 07 Chapter 03. Who uses the forex market? 09 Chapter 04. Which currencies are on the forex market? 13 Chapter 05. Why trade forex on Deriv Advantages of trading forex on Deriv Trader Advantages of trading forex on Deriv MT5 16 18 23 Chapter 06. Currency pairs you can trade on Deriv 25 Chapter 07. Forex in more detail 28 Final note 56 Appendices 58 Glossary 72 Introduction Foreign exchange – forex or the FX market, as it is commonly known – is one of the biggest marketplaces in the world. Here, no trading floor exists; banks, brokers, companies, and governments trade among themselves through high-tech computer networks, such as those offered by Reuters and Bloomberg. It’s hard to comprehend the colossal amount of money traded in this market on a daily basis, which totals around 6.6 trillion USD per day, as reported in a 2019 survey by the BIS Triennial Central Bank Survey. Approximately 10% is fuelled by companies trading overseas, needing to convert currencies for routine commerce, such as import/export businesses; the rest is pure speculation and investment. As these figures clearly show, this is a very active trading sector, with the potential to yield significant gains through smart, consistent money-management principles. This book explores the world of forex, especially as accessed via Deriv online trading platform (Deriv Trader), as well as the leading platform MetaTrader 5 (MT5). You will be able to practise trading forex with a demo account. So you can see it in action without risking any money. As you become more confident, you can start using a real trading account. The great advantage of using Deriv services, which are available for clients above the age of 18, is that you can start trading with just a small deposit. This book explores the world of forex, especially as accessed via Deriv online trading platform (Deriv Trader), as well as the leading platform MetaTrader 5 (MT5).