What is Forex
Hi! This course is for beginners in Forex trading. Here you can find basic information about the market and learn to buy and sell different currencies. good luck!
Forex, FX - abbreviation for "foreign exchange rate" - is the trading of different currencies against each other. Forex is one of the largest global financial markets for trading various currencies. It contributes to international trading and investment through foreign exchange transactions. In 2016, the daily Forex volume was 5.1 trillion US dollars, according to the Bank for International Settlements (BIS).
There are many actors in the forex market. Some are trading to make profits, others are trading cautiously to avoid risks, and many are trading to secure their need for foreign currency to pay utility bills. The main participants in trading are the commercial banks, which is why currencies are priced according to the market of the banks. Among them we find traditional retailers, and individuals who trade daily / weekly to earn the most money. Many of them monitor economic and political news, statistical bulletins, and influential speeches to decode the future direction of currency rates. Others rely on technical indicators without paying attention to what is happening in the financial world. You can also become a trader and join the business class.
The Forex market is centralized. In other words, there is no specific geographical location in which investors trade currencies. Forex traders rely on the Internet to find out the prices of different currency pairs from different brokers. Financial centers around the world - London, New York, Tokyo, Hong Kong and Singapore - are fulcrums for trading among a wide range of different types of sellers and buyers. In order to access the Forex market, you have to go to a Forex broker.
This tutorial was created to show you the basics of Forex and explain the basics of currency trading in a simplified way. This will be your first step on the road to becoming a successful Forex trader. Please see our tutorials below to further develop your trading skills. good luck!
Start trading
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