Forex vs Cryptos: Key Differences Explained

What is forex and what is cryptocurrency?

the forex tradingwhich is based on the purchase and sale of currency pairs and that of cryptocurrencies, which is based on digital currencies or virtual currencies, are very similar.

These two complex asset classes, which are growing rapidly with gains expressed in thousands of dollars, present many advantages but also some risks.

What is Forex?

the Forex (for Foreign Exchange Market in English), also known as ” foreign exchange market or FX is an international over-the-counter market (OTC), where investors trade the global currency pairs at a pre-agreed price.

Considered the largest and most liquid market in the world, the forex market allows individuals, businesses and central banks to convert funds from one currency to another for their international business transactions. The forex market operates 24 hours a day, 7 days a week.

What is forex trading?

the forex trading is the activity of taking a position on changes in the prices of currencies against each other (in pairs) in the financial market. Investors try to take advantage of up and down fluctuations in the price of currencies to make gains, by buying or selling one currency against another.

Discover forex trading with IG

With GIit is now possible to trade Forex through the Turbo24s, which are the first turbos in the world available 24 hours a day with uninterrupted access to the financial markets, from Monday to Friday, even when the underlying markets are closed.

By trading Forex with IG’s Turbo24 you pay no commission and you are not exposed to any currency risk as all are traded in Euros.

Note that forex trading can result in both gains and losses, which is why you should choose a broker that offers suitable risk management tools.

Trade major, minor, exotic and regional currency pairs with IG via Turbo24 by opening a live trading account.

Find out how to trade forex with IG

What is Cryptocurrency?

The cryptocurrencies are digital or virtual currencies that can be exchanged or traded like any physical currency. They operate independently of central banks and governments. There are many cryptocurrencies that have emerged (like bitcoin (BTC), ethereum (ETH)) with different characteristics and applications.

Learn more about cryptocurrencies

What is Cryptocurrency Trading?

the cryptocurrency trading involves trading on the price fluctuations of a cryptocurrency using a trading account, or buying and selling the underlying currency through an exchange.

Trade bitcoin, ether and litecoin with IG by opening a live trading account.

Investors buy cryptocurrencies on exchange platforms (a kind of virtual stock market) and store them on “crypto-wallets” or electronic wallets. When a user wishes to sell cryptocurrency units to another user, he must send them to the latter’s virtual wallet.

Learn how crypto trading works with IG

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