It involves trading one nation’s currency for the currency of another nation. As individuals or companies from one country trade across borders, the need for foreign currency arises.
Why we trade Forex?
There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit
This daily volume is larger than the combined volume of all the world’s stock markets. The FOREX market is not centrally located. It is an over-the-counter market where buyers and sellers conduct business linked by telephones, computers, fax machines, and other means of instant communications.
If you're brand new to the Forex market, start here.
Firstly understanding forex quotes Reading a foreign exchange quote may seem a bit confusing at first.
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