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Forex Trading Alerts

Date Modified: 26/07/2023

The Forex market is quite volatile, and although its volatility can be measured through basic Forex trading indicators, even if you are an experienced trader, it’s not possible to constantly monitor the rate at which a currency pair is trading.

Plus500’s Free Market Event Notifications and Economic Calendar

Plus500 sends market event notifications. These are free of charge and are available across multiple asset classes. However, rather than making a suggestion to a trader about when to execute or exit a trade, Plus500 alerts are merely price alerts reflecting current market events. Prudent traders can utilize this free-of-charge feature and integrate it into their trading strategies in order to make the most of market opportunities. In addition, Plus500 offers a cost-free Economic Calendar which tracks important economic and financial events that can impact the Forex market and other instruments and sectors offered on the Plus500 platform.

Economic Data

An economic calendar is a good way to stay on top of economic events from around the world at any given time. Economic data is highly useful for fundamental traders who typically focus on long-term positions.

Relevant economic data may include employment reports, inflation rates, and movements in interest rates. Political statements are also very important for fundamental FX traders. You can also get notified about Plus500 traders’ sentiments* (Buyers vs Sellers). This can be an important indicator and consideration for most FX traders.

Computer with the Notification Settings screen, highlighting the selected notifications and channels.

Illustrative prices.

Forex Exchange Rates and Setting Automatic Orders

When trading currency pairs, you’ll want to take into account the exchange rates of the currencies you are trading. You may also want your orders to be executed when a currency pair reaches a certain rate.

On the Plus500 platform, you can set automatic Buy and Sell orders to open a trade when the price of an instrument hits a certain level. Of course, it is also possible to open a new position manually when this occurs.

How Can Traders Set Forex Alerts?

On the Plus500 platform, traders can set Forex automatic alerts/notifications via Push, In-App, and Email.

To set up alerts, simply go to ‘Settings’ > ‘Notifications Settings’.

It is, however, crucial to note that Plus500’s market event notifications shouldn’t be the only material you rely on before you make trading decisions, as this is general information that doesn't take into account your personal circumstances.

Profit Taking Indicators

In addition to Trend Confirmation Technical Indicators like SMA, EMA, RSI, MACD, which are offered by Plus500, there are also profit-taking indicators, for when you may want to know when it is time to exit a trade and lock in your gains in a profitable position. To do this, you can use some of the technical indicators mentioned earlier in this article. For instance, you may want to consider taking a profit if the 3-day RSI rises above 90. Alternatively, you might want to make a profit if the RSI is below 10 (should you be shorting the currency pair). Bollinger Bands are another technical indicator that you can use to analyze whether or not to take profit, along with a host of other indicators.

What indicators does Plus500 offer?

As mentioned above, Plus500 does not provide Forex trading signals but instead offers a wide range of indicators which allow you to develop your trading strategy and receive real-time market event notifications on prices, percentage change (daily or hourly) and traders’ sentiments*.

The aforementioned are some of the more reliable indicators that you can make use of when trading Forex CFDs with Plus500.

Computer with the USD/JPY screen on the WebTrader.

Illustrative prices.

Signals and Alerts

On the Plus500 platform, you may set alerts based on what you are tracking. This means that you only receive the notifications you need. Sign up/Log in here to start using trading alerts.

*This article contains general information which doesn't take into account your personal circumstances.

**Instrument availability varies by operator.

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Forex FAQ

Forex trading (also commonly known as Foreign Exchange, currency or FX trading) is a global market for trading one country’s currency in exchange for another country's currency. It serves as the backbone of international trade and investment: imports and exports of goods and services; financial transactions by governments, economic institutions or individuals; global tourism and travel – all these require the use of capital in the form of swapping one currency for a certain amount of another currency.

When trading Forex CFDs, you are essentially speculating on the price changes in their exchange rate. For example, in the EUR/USD pair the value of one Euro (EUR) is determined in comparison to the US dollar (USD), and in the GBP/JPY pair the value of one British pound sterling (GBP) is quoted against the Japanese yen (JPY).

If you think the exchange rate will rise you can open a ‘Buy’ position. Conversely, if you think the exchange rate will fall you can open a ‘Sell’ position.

To learn more about Forex trading, read our article on "What Is Forex" and to see a full list of currency pairs offered by Plus500, click here.

Forex rates are impacted by an array of political and economic factors relating to the difference in value of a currency or economic region in comparison to another country's currency, such as the US dollar (USD) versus the Offshore Chinese yuan (CNH) – these are the currencies of the two largest economies in the world.

Among the factors that might influence Forex rates are the terms of trade, political relations and overall economic performance between the two countries or economic regions. This also includes their economic stability (for example GDP growth rate), interest and inflation rates, production of goods and services, and balance of payments.

To learn more, check out our article on "What Events Impact Forex Trading" and use our Economic Calendar to find real-time data on a wide range of events and releases that affect the Forex market.

The 4 main differences between trading Forex and shares are:

  • Trading volume – the Forex market has a larger trading volume than the stock market.
  • Instrument diversity – there are thousands of stocks to choose from, as opposed to several dozen currency pairs.
  • Market volatility – stock prices can fluctuate wildly from one day to the next, and their fluctuations are generally sharper than the ones found in Forex markets.
  • Leverage ratios – the available leverage for Forex CFDs on the Plus500 platform is 1:30, while the leverage for shares CFDs is 1:5.

Please note that when trading Forex or shares CFDs you do not actually own the underlying instrument, but are rather trading on their anticipated price change.

Foreign Exchange trading has a number of risks that you should be aware of before opening a position. These include:

  • Risks related to leverage – in volatile market conditions, leveraged trading can result in greater losses (as well as greater capital gains).
  • Risks related to the issuing country – the political and economic stability of a country can affect its currency strength. In general, currencies from major economies have greater liquidity and generally lower volatility than those of developing countries.
  • Risks related to interest rates – countries’ interest rate policy has a major effect on their exchange rates. When a country raises or lowers interest rates, its currency will usually rise or fall as a result.

We offer risk management tools that can help you minimise your trading risks.

If you're ready to start trading Forex with Plus500, click here.

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