16/10/2024
WHAT IS FOREX TRADING.?
FOREX TRADING simply means buying and selling international currencies on one global market to make consistent profits.
It involves exchanging one currency for another such as US-Dollars-USD.
Great British Pound -GBP.
European Dollar -EUR.
Japanese Yen -JPY.
New Zealand Dollar-NZD.
Canadian Dollar -CAD.
Australian Dollar AUD.
And many many more currencies.
And this can be done right on your mobile phone, desktop or Laptop.
Forex trading, also known as foreign exchange or FX trading, is the conversion of one currency into another. FX is one of the most actively traded markets in the world, with individuals, companies and banks carrying out around $6.6 trillion worth of forex transactions every single day.
How does Forex work?
The foreign exchange (forex or FX) market is a global marketplace for exchanging national currencies. Because of the worldwide reach of trade, commerce, and finance, forex is the world's largest and most liquid asset market. Currencies trade against each other as exchange rate.
Forex trading entails speculating on currency prices to earn potential profits. By trading currencies in pairs, traders predict the rise or fall in value of one currency against another. Forex is traded on the forex market, open to buy and sell currencies 24 hours a day, five days a week.
WHAT DO I NEED TO TRADE FOREX?
1. Knowledge
2. Phone, Laptop, Tablet or desktop.
3. Strong Internet connection.
3. Trading capital.