The Australian Dollar and the US Dollar pair, often referred to as the "Aussie," is a prominent currency pair in the forex market. Accounting for about five percent of the total forex market volume, it's a favored choice among traders. This pair's value is closely linked to commodity prices, reflecting Australia's significant exports of iron ore and coal. The robust economies of both countries add to its appeal. For those interested in trading AUD/USD, eToro offers a user-friendly platform. In this guide, I'll delve into the nuances of trading this pair and share some personal insights that might be helpful.
77% of retail investor accounts lose money when trading CFDs with this provider You should consider whether you can afford to take the high risk of losing your money.
On eToro, trading the AUD/USD pair involves CFDs (Contracts for Difference), not direct currency exchange. The allure of CFD trading lies in its ability to speculate on forex market movements without owning the actual currencies. It's a flexible and efficient way to engage with the forex market.
Having traded this pair on eToro several times, I've noticed numerous advantages, which include:
These features make eToro an attractive platform for trading the AUD/USD pair. Stay tuned for more detailed insights and tips in this guide.
When you visit the AUD/USD asset page on eToro, you'll land on the Overview section by default. This area provides several key elements to help you understand and analyze the asset:
The platform offers several integrated tools that enhance the trading experience:
To trade the AUD/USD pair on eToro:
That concludes our guide to trading the AUD/USD pair on eToro's web platform and mobile app. Keep these insights and tips in mind as you embark on your forex trading journey. Happy trading!
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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