What is Forex trading and Forex Market?
Forex trading is the buying and selling of currencies from around the world with the intention of making profits. The Forex market is the largest trading market with over $5 trillion in daily turnover and highly liquid financial market, operating 24 hours a day, five days a week and traded online with constantly varying prices. Exchange rates fluctuate and change constantly due to the dynamic market forces of supply and demand. A key highlight of the forex market is that there is no central marketplace or exchange in a central location, as all trading is done electronically via computer networks. Banks, private businesses, investment agencies, investors and retail traders, all speculate and trade with national currencies on the foreign exchange market.
How does Forex Trading work?
In the Forex Market currencies are always traded as pairs such as GBP/USD or USD/JPY. EUR/USD is considered to be the currency pair which is the traded the most around the world. The reason they are quoted in pairs is that, in all forex transactions one currency is simultaneously bought while another is sold. The first currency of a forex pair is called the ‘base’ currency, whereas the second currency is referred to as the ‘quote’ currency. Join us at Marketfxm, where we provide you the opportunity of trading Forex with CFD contract trading, where you can invest virtually on currencies and make exceptional profits.
The Benefits of FX trading?
- Access and trade a vast range of foreign currency pairs
- Flexible leverage which can be utilized to your advantage
- High liquidity
- Trading occurs 24 hours a day and 5 days a week (excluding weekends)
- Transaction costs of trading Forex is low
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