Forex trading
Get an edge in fast-moving markets
Trade global currency markets with fast, reliable execution and competitive spreads. Access liquidity on EUR/USD, GBP/USD, USD/JPY and other leading forex pairs.
Wide range of markets
Access 80+ global FX pairs
Transparent pricing
Clear, competitive trading costs
Award-winning provider
Best Trading App (Mobile) Professional Trader Awards 2025
Why trade forex with StoneX Trading?
Deep liquidity and clear spreads
Deep liquidity, clear spreads and no surprise mark ups or hidden fees.
Comprehensive charting
Use TradingView charts, 80+ indicators and one-click trading.
A trusted market leader
Trade with a Nasdaq-listed, Fortune 50 provider with 100+ years of market experience.
Live pricing
Latest FX news
Latest research
Economic calendar
Our key figures
1m+
account holders*
1000s
of markets
0.002s
average execution speed
99.99%
of trades successfully executed
* StoneX retail trading live and demo accounts globally in the last 2 years.
Ways to trade forex
StoneX Trading offers two ways to trade forex. Typically, UK investors choose spread betting because any profits are free from UK Capital Gains Tax (CGT*). We also offer spot FX through our CFD and MT4 accounts.
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*Tax laws are subject to change and depend on individual circumstances.
Award-winning trading apps
Explore our intuitive mobile trading platform, winner of Best Trading App at the 2025 Good Money Guide Awards.
TradingView charts
Complete with advanced technical analysis tools
Performance Analytics
Review trading behaviour and refine your workflow.
How to trade forex
Follow our step-by-step guide to trading forex.
What is forex trading?
Learn why leveraged forex trading is popular, and how the FX market works.
Start forex trading
Open an account with StoneX Trading in three steps.
Evaluate with a demo
Assess platform fit with £10,000 virtual funds and no capital at risk.
Why StoneX Trading?
Market access, pricing, support and StoneX Group strength.
High-touch service
Reach dedicated support 24/5 by phone, email or live chat.
Institutional pricing
Competitive spreads, clear charges and fast execution.
Financial strength
Trade with Nasdaq-listed StoneX Group (ticker: SNEX), a Fortune 50 global provider with a 100+ year track record.
Market insight
Access global analyst coverage, StoneX TV and Market Intelligence.
More markets to consider
Bonds
Trade 10-year US T-Note, UK Long Gilt and Euro Bunds.
Interest rates
Trade opportunities from interest rate price movement.
Options
Trade options on over 40 markets, including the UK 100, US SP 500 and Germany 40.
Forex explained
A market that doesn’t sleep
Foreign exchange (forex) or FX trading involves trading the prices of global currencies, and at City Index it is possible to trade on the prices of a huge range of global currencies. Currency trading allows you to speculate on the movement of one currency against another, and is traded in pairs, for example the Euro against the US Dollar (EUR/USD).
Currency markets are open 24 hours a day. There is no central exchange for trading Forex: instead prices are determined by interbank trading, the exchange of currencies between banks on a constant basis, all over the world.
The currency market is much bigger than share markets. The daily volume of global forex markets is estimated at over $4 trillion.
What moves currency markets?
- Economic data - This particularly affects critical areas of a country’s economy like inflation, unemployment numbers, foreign trade or payrolls.
- Central banks - These can have a big influence over the performance of currencies, for example by changing interest rates or printing more money. Central banks can also buy and sell their own currency in order to keep it trading within a certain level.
- Political factors - Increasingly, political uncertainty can drive currency markets. For example, the Swiss Franc has traditionally been seen as a safe haven currency. Something as banal as a speech by a finance minister can have a big impact on a currency.
Currency pairs
Currencies are traded in pairs – this means you can only trade one currency against another. You can’t trade a currency in isolation. Each currency has its own three letter code, for example, the US Dollar is abbreviated to USD.
An example of a major currency pair is USD/JPY pair.
If traders are positive on the prospects for the Yen, they would expect overall number to go down – i.e. the Yen would be getting stronger against the Dollar. Traders would be buying less Yen with a Dollar as the Yen got stronger. Similarly, if the Yen was expected to weaken, forex traders would expect the Yen number to go up, reflecting the fact that the dollar could buy more yen.
Currency markets never decline in absolute terms – for one currency to go up, there will be others weakening against it. All currencies cannot go up at the same time. There is always going to be a loser.
Who trades currency markets?
Currency markets are important to a broad range of participants, from banks, brokers, hedge funds and investor traders who trade FX. Any company that operates or has customers overseas will need to trade currency. Central banks can also be active in currency markets, as they seek to keep the currency they are responsible for trading within a specific range.
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