Trade your opinion on the global stage
Have an opinion of the US dollar but not sure how to turn that opinion into a trade? Try FXCM's Currency Baskets, available exclusively on Mirror Trader. Currency Baskets can make trading less difficult, which means new and less-experienced traders can get started in the forex market with more confidence.
How does it work?
Trading Currency Baskets starts with your broad opinion on a currency, like the US dollar.
Assume you think the US dollar broadly speaking is undervalued and will appreciate in the future. How do you express that opinion?
You could sell euros and buy US dollars, trading EUR/USD. But EUR/USD is a very narrow trade — you are simply comparing the US dollar to the euro.
Narrow view: A single EUR/USD trade represents only 28% of all USD transactions and leaves the eurozone economy largely in control of the outcome.
What's your opinion?
If you have a bullish opinion on a currency and think it is undervalued, you can buy the currency basket. If you have a bearish opinion on the currency and think it is overvalued, you can sell the currency basket.
AUD/JPY, AUD/USD, EUR/AUD, GBP/AUD
Simulated Performance Results: These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. Additionally, please be advised that performance figures are based on systems that are not subject to NFA's rule regarding FIFO execution.
Hypothetical Trading: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
You should not regard any transaction proposal or suggested automated or manual trading strategies as investment recommendations or advice. You must rely on your own judgement for any investment decision you make in relation to your account.
Price: Orders will always execute based on the pricing structure of the client's account no matter what is displayed on the platform. The price quoted under this specialty platform is for reference only.