SGD/JPY

99.12
0.89%
Daily
  • L. 97.941
  • H. 99.323
  • Ch. 0.884
  • Ch.% 0.89%
Overview
Costs & Margins
  • SGD/JPY is an exotic forex pair representing how many Japanese yen equal one Singaporean dollar. The pair represents two of Asia’s most traded currencies. The Singaporean dollar is heavily influenced by trade and financial services, and the country has one of the highest rates of GDP per capita in the world.

    Japan’s economy is the third largest in the world but has experienced slow economic growth. To combat this, Japan’s central bank has maintained a low and sometimes negative interest rate for decades. This unique economy and the country’s thriving manufacturing, economics, and technology industries provide unique opportunities for traders.

  • Margin From
    5.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    0.5
  • Short
    -1.02
  • Min Stop Distance
    0.05 points
  • Spreads
  • Spreads From
    0.042 Points
  • Margins
  • 0 - 1300 000
    5.0 %
  • 1300 000 - 6600 000
    10.0 %
  • 6600 000 - 13000 000
    15.0 %
  • 13000 000 - 26000 000
    20.0 %
  • 26000 000 +
    40.0 %
  • Dealing
  • Spreads
    0.042 Points
  • Margins
  • 0 - 1300 000
    5.0 %
  • 1300 000 - 6600 000
    10.0 %
  • 6600 000 - 13000 000
    15.0 %
  • 13000 000 - 26000 000
    20.0 %
  • 26000 000 +
    40.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
98.783
Bid
98.691
Offer
98.749
Distance
0
Last Updated: 1/25/2023 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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