CFDs are complex financial instruments and carry a high level of risk due to leverage. A significant proportion of retail investors incur losses when trading leveraged products such as CFDs. You should carefully consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your capital.
If you’re wondering what a fixed exchange rate is, it’s a system where the government or central bank sets an official value for its currency against another currency or against gold. That value does not fluctuate freely based on supply and demand. The central bank actively intervenes to maintain the exchange rate at the established level.