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    Thread: What is Forex?

    1. #31
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      Default Re: What is Forex?

      The Forex market which is the short term for foreign exchange market, is all about buying and selling currencies with the aim of making profit off the changes in their value, the Forex market is known As the biggest market in the world so far, its even larger than the stock market or any other market, or local market, there is high liquidity in the Forex market due to the presence of the large number of people trading everyday.
      Anyone can trade in the Forex trading market, no matter our background whether rich or poor, what is most important is making sure we have enough trading experience or knowledge.


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    3. #32
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      Default Re: What is Forex?

      Quote Originally Posted by GhostMode View Post
      What exactly is Forex trading?
      The aim of forex trading is simple. Just like any other form of speculation, you want to buy a currency at one price and sell it at higher price (or sell a currency at one price and buy it at a lower price) in order to make a profit.

      Some confusion can arise as the price of one currency is always, of course, determined in another currency. For instance, the price of one British pound could be measured as, say, two US dollars, if the exchange rate between GBP and USD is 2 exactly.

      In forex trading terms this value for the British pound would be represented as a price of 2.0000 for the forex pair GBP/USD. Currencies are grouped into pairs to show the exchange rate between the two currencies; in other words, the price of the first currency in the second currency.

      Some commonly traded forex pairs (known as ‘major’ pairs) are EUR/USD, USD/JPY and EUR/GBP, but it is also possible to trade many minor currencies (also known as ‘exotics’) such as the Mexican peso (MXN), the Polish zloty (PLN) or the Norwegian krone (NOK). As these currencies are not so frequently traded the market is less liquid and so the trading spread may be wider.


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