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Trade Forex
Forex trading (foreign exchange trading) involves buying and selling currencies in the global currency market, also known as the forex market. This market is decentralized, meaning there's no central exchange, and it operates 24 hours a day across different financial centers worldwide.
Forex
With an average daily trading volume surpassing $6 trillion, it functions 24 hours a day, five days a week, enabling traders and investors to participate in currency trading from any location worldwide.
The forex market, stands as the largest and most liquid financial market globally, facilitating the continuous buying and selling of currencies and presents distinct opportunities and challenges for participants, whether they are hedging against risks or pursuing profit.
Forex trading
Currency pairs: Every transaction consists of two currencies, known as the base currency and the quote currency.
Pips: This term refers to a measurement unit for currency fluctuations, usually represented by the fourth decimal point.
Leverage: This involves borrowing funds to amplify the scale of a trade.
Margin: This is the sum of money necessary to initiate a leveraged position.
Bid/Ask prices: The bid represents the price at which a broker is prepared to purchase, while the ask indicates the price at which they are ready to sell.
Forex Pairs
Major Pairs:
These pairs include the most traded currencies globally, with the US Dollar (USD) as one of the two currencies.
-EUR/USD (Euro/US Dollar)-GBP/USD (British Pound/US Dollar)
-USD/JPY (US Dollar/Japanese Yen)
-USD/CHF (US Dollar/Swiss Franc)
Minor Pairs:
These pairs involve a currency other than the US Dollar. They are still liquid but have lower trading volume than major pairs.
-EUR/GBP (Euro/British Pound)-EUR/AUD (Euro/Australian Dollar)
-GBP/JPY (British Pound/Japanese Yen)
Market Hours
Forex operates 24 hours a day, five days a week, due to different global market opening times
Leverage
There is significant leverage, enabling traders to manage larger positions while utilizing a relatively small amount of capital.
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