Forex, also known as foreign exchange trading or FX trading is defined as the process of changing one currency into another, for various reasons like commerce, tourism, and trading. According to the Bank of International Settlements, the daily Forex trading volume in 2019 was more than $5.1 trillion, and this number is steadily growing with every passing day.
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How FX Trading works?
Forex trading involves buying one currency and then simultaneously selling the other one. By speculating and analyzing the direction the currencies are most likely to take in the coming future, traders try to make a profit by buying currencies whose value is expected to increase in the future and selling currencies that might lead to…
Global Forex Market Hours
Once you have decided on the currency you want to trade, you also need to decide on how you want to trade currency. There are three different types of Forex markets: Most traders do not plan on taking the delivery of the currency. Instead, they focus on making exchange rate predictions between different currency pairs…