Forex, FX - short for "foreign exchange" which means 'foreign exchange' - is currency trading from several different countries against each other. Forex is one of the largest global financial markets for trading various currencies. It helps international trade and investment through foreign exchange transactions. The daily FX 2016 volume provides $ 5.1 trillion , according to data from the Bank of International Settlements (BIS).
There are many different players in the FX market. Some people trade for profits, others trade to limit their risky value and others just need foreign currency to pay for goods and services. The main trading participant is a commercial bank, which is why the quote currency is in the interbank market. regardless of large commercial banks and central banks and multinational corporations, there are also many risk-seeking investors who are always ready to engage in various speculations. Among them are specialized retailers - individuals, people, who trade daily / weekly to earn a lot of money. Many people are listening to economic and political news, releases statistics and public involvement of influential people to interpret the further movement of currency prices. Others rely on technical indicators regardless of what is happening in the financial world. You will also be able to become a Forex entrepreneur and join this currency entrepreneur class.
The Forex market undertakes decentralization. In other words, there is no physical location where investors trade currency. Forex traders use the internet to check quotes / quotes of various currency pairs from various dealers. Financial centers in the world - London, New York, Tokyo, Hong Kong and Singapore - serve as the trading anchors between a wide range of buyers and sellers. To gain access to the interbank currency market you need to switch to an FX broker.
This tutorial is made to introduce you to the basics of Forex and explain simply how to trade currency. This will be your first step in becoming a successful Forex trader. Please review our next set of lessons to further develop your trading skills. Good luck!