What is Forex Trading?
Foreign Exchange trading (also called Forex, FX or currency trading) describes trading in the many currencies of the world. It is the largest market, which provides a large amount of liquidity to traders. Each day the markets trade over $1.5 trillion, if you compare the New York Stock Exchange which trades $27 billion a day you can begin to see how massive this market really is.
The spot Forex market trades are settled within two banking days. There is no central exchange like futures, and most of the trades are done electronically. The big boy’s in this game are the Banks, Hedge Funds and financial organizations.
However, with new rules and introduction of Trading Platforms across the internet almost anyone can now start trading Currencies.
Unlike any other type of trading currencies are traded in pairs. One currency is bought and the other sold. The Major pairs in The Forex Market are US Dollar (USD) Japenese Yen (JPY) Swiss Franc (CHF) Australian Dollar (AUD) Canadian Dollar (CAD) British Pound (GBP) and the Euro (EUR)
These Currencies can be traded in most order but the most popular pairs are the US Dollar Against the Japanese Yen Shown as USD/JPY, Euro against the US Dollar (EUR/USD), the British Pound against the US Dollar (GBP/USD), the British Pound against the Euro (GBP/EUR) and the US Dollar against the Swiss Franc (USD/CHF).
Forex Trading can be very profitable if you know how to trade. Learning to trade takes a lot of time and efforts, If you jump in to markets without proper knowledge you will lose your money.
There are many who are providing forex signals / forex calls where you will be given buy and sell calls. There are lot of scams in telegram signal providers, so be careful.
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