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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.
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