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What is forex? | what is forex broker? – THE SVG ONLINE

What is forex? | what is forex broker?

What is forex? or What is the forex definition?
Forex or Fx mean foreign exchange or currency trading

How does Forex work?
currency trading is always quoted in pairs, in terms of one currency against another.

What is forex broker?
Forex broker is a firm, individual or intermediary between you and the networks of banks that trade with each other

Currencies are very important to most people all over the world. If you are living in France. and want to buy anything from the U.S.you need to exchange currency from dollars (USD) into euros (EUR). An American tourist in Germany can’t pay in dollars so that the tourist has to exchange the dollars for the local currency.


What is forex? or What is the forex definition?
Forex or Fx mean foreign exchange or currency trading
Forex is a decentralized global market where any person can trade currencies.You can earn money from buying and selling currencies on the foreign currency exchange market.All people realized that the forex market is the largest market for currency trading because of over $5 trillion traded every day. the foreign currency exchange market opening time is 24 hours a day, 5 days a week.

There is a risk to beginners who don’t trade money before or don’t know how to trade so that I recommend to start with the forex broker that offers the CopyCat trading system, for example, CM Trading and I will tell you a small CM Trading Review at the end.


How does Forex work?
currency trading is always quoted in pairs, in terms of one currency against another. Take for example EUR/USD (Euro vs US Dollar) the currency to the left is called the base currency (Euro) and the currency to the right is called quote currency (Dollar), for example, EUR/USD = 1.14900 that mean you have to pay 1.14900 U.S Dollars to buy 1 Euro.

You will buy when you expect that the value of that specific base currency would increase and you will sell when you expect that the value of that specific base currency would decrease.

When you get an account with forex broker it’s like opening a bank account because it requires identity verification and some paperwork and The process takes a few days.

In the past, a broker was considered an individual member of a profession and worked at a special agency. But now many brokers have available their clients to get accounts and trade through electronic platforms, computer applications, and mobile applications.

Article by: Mahmoud Elnawasany
Source: http://www.articlesfactory.com/