EUR/HKD

8.4935
0.10%
Daily
  • L. 8.4661
  • H. 8.5107
  • Ch. -0.0088
  • Ch.% -0.10%
Overview
Costs & Margins
  • EUR/HKD is an exotic forex pair representing how many Hong Kong dollars equal one euro. The euro’s value is influenced by economic growth, interest rates, and political developments across the entire eurozone.

    Hong Kong is a special administrative region of China, and it has struggled in its political relationship to the larger nation. This political instability can affect Hong Kong’s economy, supported mainly by the country’s tourism, trade, and financial services industries.

    The Hong Kong Monetary Authority maintains a linked exchange rate to the US dollar, so EUR/HKD is closely correlated with EUR/USD.

  • Margin From
    15.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -1.43
  • Short
    -0.74
  • Min Stop Distance
    0.0013 points
  • Spreads
  • Spreads From
    0.0013 Points
  • Margins
  • 0 - 84 000
    15.0 %
  • 84 000 - 1800 000
    20.0 %
  • 1800 000 - 4500 000
    20.0 %
  • 4500 000 - 9100 000
    20.0 %
  • 9100 000 +
    30.0 %
  • Dealing
  • Spreads
    0.0013 Points
  • Margins
  • 0 - 84 000
    15.0 %
  • 84 000 - 1800 000
    20.0 %
  • 1800 000 - 4500 000
    20.0 %
  • 4500 000 - 9100 000
    20.0 %
  • 9100 000 +
    30.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
8.5159
Bid
8.4963
Offer
8.498
Distance
0
Last Updated: 1/30/2023 10:00:00 PM

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Forex explained

What is forex?

Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than $6.5 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

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Why trade forex

People trade forex for a range of reasons, including the unmatched liquidity of the market, the ability to trade on leverage, the opportunity to take positions in both rising and falling markets, the lack of hidden fees or commissions, and the accessibility of markets being open 25 hours a day, five days a week.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

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