The term Forex comes from “foreign exchange.” Generally speaking, Forex is an international exchange where commercial banks, central banks, companies, hedge funds, brokers and retail investors buy and sell currencies. The Forex market is the world’s largest both by total value and daily trade volume.
On Olymptrade, Forex mode is a trading mode for working with currencies, stocks, metals, cryptocurrencies and other types of assets. You can enter this mode by pressing the name of the asset that’s above your price chart and choosing the Forex tab.
Unlike Fixed Time Trades mode, in Forex mode, the profitability rate is not fixed, depending instead on how much the price of an asset has grown or dropped since a trade was opened.
For example, if you open an Up trade on EUR/USD at 1.00000 and the price reaches 1.00100, you’ll earn an 8% profit. If the price reaches 1.00200, you’ll earn 16%. If the price drops below 1.00000, your loss will depend on exactly how much the price drops, but will never exceed the amount that was used to open the trade.