Most of people want to know What is Forex, the word Forex is a combination of two simpler words foreign exchange . The simple meaning of Forex Trading is exchange of foreign currencies. Forex Market is where currencies are traded to earn profit, Fxstay traders are working 5 days a week in Fx market and if you think its hard for you to learn forex trading you can contact us and we trade for you.
What is Forex Market
Fx Trading market is like any other market where goods are traded. The only difference between the Fx Trading market and any other market is that goods are bought and sold in other markets whereas currencies are bought and sold in the Fx Trading Market . For example, you can buy euro by paying AUD (Australian Dollars) or you can buy JPY (Japanese Yen) by paying US dollars. Currencies are treated like goods in the Fx Trading market. Now you know a little What Is Forex but its not enough, continue below.
Forex is global in nature because traders from all around the world can place trades to earn profit. Participants in Fx Trading market are more than any other market in the world and this makes Fx Trading market, the biggest market of the world. More than a trillion USD trading is done everyday in this market. Forex Trading is done in the first five days of the week starting from Monday and do not stop for a second till the end of Friday. It means Fx Trading is done 24 hours in all five days. The Best Forex players in Fx Trading market are large banks, large international corporations and financial institutions.
The main concept of the Online Forex market is the “free-floating” currencies. “Free-floating” currencies are those currencies that are not supported by any specific materials like gold or silver. The profit and loss in Fx Trading market is based on the changes in the value of currencies. The two widely traded currencies of the Fx market are the US dollar and the Euro. These two currencies are considered as the king of the currencies. Some other reputed currencies of the Fx Trading market are the Japanese Yen, the Canadian Dollar, the Australian Dollar and the New Zealand Dollar. In the past few years, Forex Trading has made many investors richer and they use large part of their
What is Forex Trading
investment capability in the Forex Trading. For Example, Warren Buffet, the richest man in the world has more than 20 Billion dollar invested in the Fx Trading market. So now you know more about What Is Forex Trading , but its still not enough continue below .
Earlier Currency Trading was done through telephone but in the last few years, many companies have started a friendly system to trade online in the FX Market. You do not need any expert to help you to trade in Forex because these companies offer the facility of demo account. So you can practice with a demo account and be your own tutor to guide you in the Currency Trading. The FX companies also offer online support so you can also contact them if you need help in some issues .
You can also read more articles written by Fxstay and have better knowledge about the Forex Trading in our learn currency trading online category, Read this amazing Forex infographic made by “ForexSQ“ team and share it with your friends.