About Forex Trading
Forex (or FX) stands for Foreign Exchange, which is the “place” where currencies are traded. In this market, exchanging one currency for another is called currency trading, which is always done in pairs. For example, if a trader wanted to exchange Euro (EUR) for US Dollar (USD), the currency pair he would trade would be the EURUSD. Trading currencies implies that a trader simultaneously buys one currency while selling the other. Various economic, political and environmental factors contribute to the changing values of currencies, and forex traders buy and sell currencies in order to take advantage of these swings in value. The forex market is a global, decentralized market, which has the greatest volume of trading than any other market at $5 trillion per day, has no physical location or central exchange and it trades for 24 hours a day, 5 days a week.FAQFrequently Asked Questions
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How can I make money from forex trading?There’s usually no commission or fees to pay. Brokers are paid through the ‘spread’, which is the difference between the bid and ask prices
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How much will it cost to trade forex?There’s usually no commission or fees to pay. Brokers are paid through the ‘spread’, which is the difference between the bid and ask prices
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Which currency pairs are traded most in forex?There’s usually no commission or fees to pay. Brokers are paid through the ‘spread’, which is the difference between the bid and ask prices
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How is the exchange rate for a currency pair measured in forex?There’s usually no commission or fees to pay. Brokers are paid through the ‘spread’, which is the difference between the bid and ask prices
