GOOG/USD: Trade Google to US Dollar
A GOOG/USD is a pair where GOOG represents the stocks of a technology company Google, while USD stands for a base currency. This currency pair represents how much USD is needed to buy 1 GOOG. CEX.IO Broker platform gives users a possibility to trade Contracts for Difference (CFDs) on Google stocks.
CFD trading on GOOG stocks: how it works
With CEX.IO Broker and CFDs, you can trade on GOOG without owning the asset. You may wonder how to proceed with this. The thing is that CFD allows you to make a profit on the price change either the price goes up or down. Depending on your market prediction, you have two options:
- Opening a Long position — when you expect the price to move upward.
- Opening a Short position— if you feel the price should move down.
If your trading decision is right, the profit can be yours.
How do I start CFD trading on GOOG with margin?
To begin trading, you need to become a CEX.IO Broker user. To proceed with this, register at CEX.IO Broker (or log in using your CEX.IO login and password). Then create a trading account:
- Select the account currency (BTC, ETH, or USDT) and suitable leverage;
- Fund your account.
And then you are ready to start trading.
If you have just started crypto trading with margin, at CEX.IO Broker you can practice on the demo account. This feature allows you to get familiar with the platform’s tools and features, settings, etc. Also, you can create and practice new strategies before you try them on the live account.
What options are available for GOOG/USD CFD trading on CEX.IO Broker?
CEX.IO Broker offers a broad range of leverages available for GOOG/USD CFD trading — 2x-100x.
What is more, you can use one of four order types for trading — market, limit, stop, and one-cancels-the-other (OCO).
Another key point concerning CEX.IO Broker is cross and isolated margin. With cross margin, you are allowed to use the balance and profit of one position to meet margin requirements for another position within the same account. Isolated margin applies to different accounts and helps keep financial results separate. Unlike some other margin trading platforms where you have to choose between cross and isolated margin, CEX.IO Broker lets you use both.
What can help make trading CFD on GOOG more successful?
It’s important to remember that the market is highly dynamic. Price trends can change fast and you can be exposed to certain risks. CEX.IO Broker allows you to manage the risks by using protection orders: Stop Loss and Take Profit. When a price moves in an unfavorable direction and reaches a predetermined level, the stop loss closes the position to minimize the amount of the loss.
And vice versa, if a price moves in the desired direction and reaches a predetermined level, Take Profit is activated and the position is closed to fix the profit.
Adding, modifying, and canceling protection orders are available anytime.
Why trade the GOOG/USD pair?
Google LLC is a world-known American company, providing Internet services like a search engine, advertising, software, and hardware.
Google is included in the five Big Tech companies along with Facebook, Microsoft, Apple, and Amazon.
The company develops with enormous speed, launching new services and programs catering to public needs. Hence, the value of the company and its stocks is growing. This offers significant earning potential for the people who like trading Google stocks.
CEX.IO Broker offers you to benefit from the company’s potential by trading CFD on GOOG stocks.
CEX.IO Broker: Multiple multi-currency accounts
At CEX.IO Broker you can open up to 10 accounts and trade with various cryptocurrency pairs whichever the base currency of your account is. This also means that you don't need to keep the numerous assets in your account.
By replenishing your account in BTC, ETH, or USDT, you can still trade with all assets listed on the platform.
Having multiple multi currency accounts gives flexibility to your trading and makes it cost-efficient.