GBPUSD is one of the top currency pairs to trade not just for newbies but also for experienced traders as well.
It is among the most liquid and belongs to the four major pairs in the foreign exchange market.
Since we are talking about two heavily traded currencies, this asset can yield excellent opportunities and if you prefer the less complicated method of trading then CFDs or contracts for difference is the best way to go.
A CFD is a contract between you and your provider or broker to exchange the difference in the current value of the asset and its value after closing the contract without the need to physically own the asset. For example, as a trader who believes that the value of the GBPUSD will fall, you will sell 10,000 units at 99.00. If the pair’s value falls to 91.00 and you decided to close the position then this would make a profit of 8 multiplied by 10,000 which equals to 80,000.
Investing with CFDs gives you the opportunity to access a variety of global markets including this hot currency pair. It is best that you choose a well-known brokerage and one that is fully regulated to ensure the security of your capital. If you are in search of the best service providers then we have already prepared this list of the most trusted brands where you can trade the GBPUSD pair. These brokerages have been reviewed by our experts so you’re guaranteed that you’re investments are in good hands
