GBP/USD

1.22746
0.25%
Daily
  • L. 1.21347
  • H. 1.23003
  • Ch. 0.00304
  • Ch.% 0.25%
Overview
Costs & Margins
  • Also known as cable, GBP/USD is a staple for many FX traders and was once the most traded forex pair in the world. In 2007, the GBP/USD traded at an all-time high above 2.10, but lost a third of its value as investors flocked to the U.S. dollar during the ensuing banking crisis. Historically, the British pound and the US dollar have been the main currencies by which many other nations have valued their own money.

  • Margin From
    3.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -2.01
  • Short
    -0.21
  • Min Stop Distance
    0.0001 points
  • Spreads
  • Spreads From
    0.00006 Points
  • Margins
  • 0 - 7200 000
    3.0 %
  • 7200 000 - 14000 000
    3.0 %
  • 14000 000 - 21000 000
    3.0 %
  • 21000 000 - 54000 000
    3.0 %
  • 54000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.00006 Points
  • Margins
  • 0 - 7200 000
    3.0 %
  • 7200 000 - 14000 000
    3.0 %
  • 14000 000 - 21000 000
    3.0 %
  • 21000 000 - 54000 000
    3.0 %
  • 54000 000 +
    20.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
1.18980
Bid
1.18951
Offer
1.18968
Distance
0
Last Updated: 11/18/2022 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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