EUR/MXN

18.79302
0.47%
Daily
  • L. 18.69313
  • H. 18.8181
  • Ch. 0.08799
  • Ch.% 0.47%
Overview
Costs & Margins
  • EUR/MXN is an exotic forex pair representing how many Mexican pesos equal one euro.

    The euro is the official currency of the European Union and the second most-traded currency in the world. While not used by every European country, it is understood to represent the wider economic health of the continent. It’s chiefly influenced by policy from the European Central Bank and any severe economic events in the region like budget deficits, debt crises, and geopolitical conflicts.

    The Mexican peso is far less traded than the euro; it is regarded in forex as a commodity currency. The peso will often move in step with the value of energy commodities like crude oil and natural gas.

  • Margin From
    10.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -2.54
  • Short
    1.78
  • Min Stop Distance
    0.015 Points
  • Spreads
  • Spreads From
    0.01700 Points
  • Margins
  • 0 - 20000 000
    10.0 %
  • 20000 000 +
    30.0 %
  • Dealing
  • Spreads
    0.01700 Points
  • Margins
  • 0 - 20000 000
    10.0 %
  • 20000 000 +
    30.0 %
Economic Calendar

Pivot points
Dailys
Weekly
Monthly
Pivot point
18.7729
Bid
18.78362
Offer
18.80242
Distance
0
Last Updated: 12/1/2023 10:00:00 PM

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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