New Zealand, while not among the largest or most influential nations globally, wields a significant currency in the foreign exchange market. The New Zealand dollar, affectionately termed the "Kiwi" after New Zealand's native flightless bird depicted on the $1 coin, is a major player in global currency pairings. The NZDUSD currency pair, combining the robust US dollar with New Zealand's high-yielding dollar, is a standout in the forex market. This pair, available on eToro's trading platform, offers a unique opportunity for traders. For those interested in the specifics, my guide provides detailed insights and personal experiences with this pair.
51% 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.
It's important to understand that trading NZDUSD on platforms like eToro involves Contracts for Difference (CFD), not direct currency exchange. CFD trading appeals to me because it allows speculative trading based on forex market movements without the need to physically possess the currencies. Crypto CFDs/ Leverage trading is restricted for users under FCA.
Having traded this pair multiple times on eToro, I've identified several advantages:
Navigating to the NZDUSD asset page on eToro brings you to the Overview section, the default area showcasing key elements:
The platform's integrated tools enhance the trading experience:
To trade, simply search for NZDUSD, choose "BUY" or "SELL", enter your investment amount, set your trading preferences, and execute the trade.
That concludes the essentials for trading NZDUSD on eToro's platform or mobile app. Remember these tips and apply them strategically in your eToro forex trading journey.
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. 51% 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.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
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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eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which hasbeen prepared by our partner utilizing publicly available non-entity specific information about eToro.
51% 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.
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