FOREX stands for Foreign Exchange. The FOREX market allows people to trade one currency for another. Different currencies are constantly changing in value relative to each other. A skilful trader can exploit this dynamic in order to make a profit.
Most currencies in the world are freely exchangeable, meaning there are little to no restrictions on buying, selling, or trading among them. As with any free market, there are forces at work that make some currencies more attractive over time, while making others less so. This leads to changes in their relative values. Many different variables can impact the value of a given currency, including but not limited to:
The goal of a trader is to predict which way a currency pair will move, and to then buy or sell accordingly. For example, a trader may look at the Euro and decide that it will increase in value compared to the Dollar. The trader will therefore buy Euros in exchange for Dollars, with the expectation that the newly acquired Euros will go up in value relative to the Dollar. The trader will then try to secure a profit by selling those Euros back into Dollars after the exchange rate has moved in their favour. If the trade goes well, the trader will end up with more Dollars than they started with.
The Foreign Exchange market is one of the most popular in the world, for good reason. FOREX trading has many advantages, such as:
Getting started in FOREX has never been easier. Open a demo or live account and get started today.
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