WHAT IS FOREX?
It is 24-hours trading market.One can trade whenever he wants. There is no opening bell in the Forex market. This has became more convenient for those traders who wants to trade on part-time basis.
The retail transaction cost is less than 0.1% under normal market conditions. At larger dealers, the spread could be as low as 0.07%.
"Forex" stands for foreign exchange.In short form it is commonly known as FX. The foreign exchange market is the buying and selling of currencies. It is one of the fastest growing market in the world.
WHAT IS FOREX TRADING?
Forex Trading is trading currencies from different countries against each other. Forex trading is typically done through a broker or market maker. As a trader you have a choice to choose currency pair and trade over it. Forex trading is a popular type of investing because it provides investors with the ability to make quick profits due to small changes in one country's currency. In a FX trade one has to buy a currency while simultaneously selling another i.e., one is exchanging the sold currency for the one that one has buyed. For example, traders who think that the rate of the EUR/USD will go up might may decide to buy, or go long, the EUR/USD in the FX market. If a trader thinks the currency rate or price will go down they will sell, or go short, the particular currency pair they are interested in. Even the people who are new to forex, have an opinion on the US dollar and the US economy. They can easily take their opinions and translate them into a forex trade.
WHAT IS FOREX MARKET?
Forex market is the market place where banks, businesses, governments, investors and traders come to exchange currencies.The FX market is also referred to as the FX market, Currency Market, Foreign Exchange Currency Market or Foreign Currency Market. It is the largest and most liquid market in the world with an average daily turnover of $3.98 trillion. Forex is a product quoted by all the major banks, and not all banks will have the exact same price. The Fx market is open 24 hours a day, 5 days a week with the most important world trading centers which are located in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney.
WHO TRADE IN FOREX?
- BANKS
- COMPANIES
- CENTRAL BANKS
- INDIVIDUAL
- INVESTORS AND
- RETAIL FOREX TRADERS
ADVANTAGES OF FX TRADING
- 24 hours trading
- Lower Transaction Costs
- No Fixed lot sizes
In spot Forex, one has to determine thier own lot, or position size. This allows traders at FinFX to participate with the minimum trade size of 0.01 lots (1 000) with deposits as small as 100 EUR / USD / CHF / GBP.
- No Middlemen
It allows traders directly to trade with the market responsible for pricing on a particular currency pair.
- Commission Free
It is commission free trading market place with retail-makers and overall transaction costs then stocks and commodities.
- Less Deposit to Start
Traders can start with a small deposit to trade.No need to deposit tons of money. One can fund their trading account with little as $250 and can start trading.
- Free Demo Account
Forex offers a demo account at the beginning to practice trading and build skills.If someone is new to Forex, then it recommend that to start by opening a demo account as it is a very valuable resource for those who are financially weak and would like to sharpen their trading skills with virtual money before opening a live trading account and risking real money.
- Trade any where in the world
One can trade any where in the world with the only requirements being a laptop and internet connection.
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