What is forex ?
So you are thinking about becoming a part of the Forex Trading Market but you aren’t exactly sure where to start. Well, the most important part of Forex Trading is knowing all the aspects of it thoroughly. After all, you are putting a lot of money on the line so being certain in the decisions you are making is essential. So let’s start at the very beginning.
What is Forex Trading?
Foreign exchange is the process of exchanging one currency for another at an exchange price that has been agreed to on the over-the-counter market. With over 5.3 trillion US dollars turned over in excess per day, Forex is the world’s most frequently traded market.
In layman’s terms, FX trading is the act of buying one currency while selling another simultaneously. Currency values are constantly shifting. They can either be rising in value(appreciating) or decreasing in value(depreciating) due to a number of reasons such as economics and politics. The entire goal of people involved in the Foreign Exchange market is to take advantage of these changes and profit from them.
Unlike most other financial markets, Forex trading can occur 24-hours a day though a global network of businesses, banks and individuals. This means you could be making money even while you sleep. And what’s wrong with that?
