What is Forex?
Forex is an abbreviation of Foreign Exchange (also referred to as FX) and it is the largest financial market in the world.
The Forex market is the place where currencies are traded (currencies are the money used as an exchange medium). In the other words, it is the place where currencies are being sold and bought. In the Forex market all currencies are traded in real time.
Trading with
currencies always means that there are two simultaneous transactions taking place. If a currency is being bought, it is also being sold. To better understand this notion, think of currencies as both the goods you are buying and the method which you are paying for the goods.
Since the FX maket is the place where the currencies are traded in real time, people may trade one currency for another and make a profit of this transaction. Profits are made when one is able to determine which currency's value will increase by the end of pre-determine time period (such time period may be short or long). The Forex market is open 24 hours a day, five days a week and is based on four major cities: New York, London, Sydney and Tokyo. The Forex market is open to individuals over the age of eight's.
While Forex trading may sound daunting, it really isn't. It can be easily comprehended and understood without prior experience in finance or economy. It is challanging and exciting, thought provoking and manageable, stimulating and filled with opportunities.
What is Forex?
Forex is an abbreviation of Foreign Exchange (also referred to as FX) and it is the largest financial market in the world.The Forex market is the place where currencies are traded (currencies are the money used as an exchange medium). In the other words, it is the place where currencies are being sold and bought. In the Forex market all currencies are traded in real time.
Trading with currencies always means that there are two simultaneous transactions taking place. If a currency is being bought, it is also being sold. To better understand this notion, think of currencies as both the goods you are buying and the method which you are paying for the goods.
Since the FX maket is the place where the currencies are traded in real time, people may trade one currency for another and make a profit of this transaction. Profits are made when one is able to determine which currency's value will increase by the end of pre-determine time period (such time period may be short or long). The Forex market is open 24 hours a day, five days a week and is based on four major cities: New York, London, Sydney and Tokyo. The Forex market is open to individuals over the age of eight's.
While Forex trading may sound daunting, it really isn't. It can be easily comprehended and understood without prior experience in finance or economy. It is challanging and exciting, thought provoking and manageable, stimulating and filled with opportunities.
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