All About Forex Trading
Forex is the abbreviation of Foreign Exchange, which means currency exchange. Here are all about forex or forex trading.
What is Forex Trading?
Forex trading or trading forex is a trading of currency from different countries. For instance, buying Euro (European currency) and selling USD (American currency) at the same time. In the perspective of common people, forex trading is an activity of changing money in Money Changer, or buying and selling foreign currency manually which is done in Money Changer. In fact, it is different. Usually, the purpose of people selling or buying foreign currency in Money Changer because they want to change their currency in order to do some transactions overseas. Learning The Basic Terms in Forex Trading
On the other hand, forex trading is done in order to get some profits. This kind of trading is a business activity, investigation, and it can even be a profession. The profits are gotten from the difference of buying price and selling price. Forex trading is not only able to be done physically, it is also able to be done on the internet. It is done in a platform called platform trading.
The actors in forex market are various, from multinational banks, big companies, countries, institution, and many more. Because the scope and the actors are global, forex market is really interesting and profitable. The market opens 24 hours because of the time difference all over the world. So that we are able to do forex trading anytime. Moreover, forex market does not have any specific physical locations. And here is the function of platform trading.
The Purpose of Forex Trading
Simply, the purpose of forex trading is to get profits from the ups and downs of the rates of currency exchange. The condition of the market and the price in forex market move very dynamically. They are able to change anytime quickly in response to economic events, politic events, disasters, wars, and many more. Specifically for countries which strong economy such as Unites States of America and Japan, if there is a sensitive information even though just a little bit, the rates of the currency will quickly move ups and downs. The traders see this event as a chance to forex trade.
The Opportunity of Forex Trading
Forex trading can only be done by big players such as big companies and institutions back then. But nowadays, all people can forex trade. With only $10, now you are also able to trade forex.
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