Forex, Foreign Exchange or FX
What is Forex ? Forex, foreign exchange, is the market in which the currencies of the world are traded by governments, banks, institutional and individual investors. It is just being popular few years agos traded by individual investors.
In term of volume, the Forex market is the worlds largest, most active and liquid financial market. Its daily average trading value exceeds USD$5 trillion.
The market for currencies is many times larger than the stock market. An exchange rate is the price paid for one currency in exchange for another.
Forex is a 24-hour market because currencies are traded around the world in various markets. Therefore, you can trade currencies worldwide five days a week 24 hours a day.
Forex market opens at 5pm EST on Sunday and closes at 5pm EST on Friday, running non-stop during this time.
Unlike other financial markets instruments that operate at a centralized location, the Forex market has no central marketplace. The Forex market is just an internet network transaction between governments, banks, institutional and individual investors.
Most international forex trades and payments are made using the U.S. dollar (USD), European euro (EUR), Japanese yen (JPY) and British pound (GBP). Other currency trading instruments include the Australian dollar (AUD), Swiss franc (CHF), Canadian dollar (CAD), Swedish krona (SEK) and so on.
Currency trading, Forex trading, FX trading, Spot trading or Foreign Exchange trading is executed to profit on currency fluctuations, therefore, can provide diversification for your portfolio. Like stock exchange, if the currency you buy is rise you will earn money and vice versa. While you are trade on news or event releases, you are consider a spectacular trader.
In order to begin to trade in Forex, all you need is a computer and an Internet connection (by using Wifi, 3G, 4G, landline, etc.). You can do it from the comfort of your home, anywhere else, or when you have your spare time without leaving your day job.
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Disclosure: Trading financial instruments involves certain amount of risk.
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