The currency market is an over-the-counter (OTC) market which means that there is not one
specific location where buyers and sellers can actually meet to exchange currencies. Instead,
transactions are conducted online or less often nowadays by phone.
This is important as you can trade 24 hours a day from the opening times of the Far East
markets (21:00 GMT) on Sunday evening, until closing time of the New York markets (21:00
GMT) on Friday evening – no other trading opportunity offers you this many hours of
opportunity to trade with investors around the world.
what is the forex trading?
What is foreign exchange trading?
The foreign exchange market is where foreign currencies, such as the Euro and the US Dollar,
are bought and sold by individuals, companies, financial institutions and international banks -
everyone if fact, who is looking to benefit from the huge potential for profit from speculation.
Foreign exchange trading has many names; some of the most popular are forex, fx and
currency trading.
When you buy and sell foreign currencies, you are buying one currency against another. This
means that when you see EUR/USD on a trading platform, you can either buy or sell this pair.
If you choose to buy, you will be buying Euros with US Dollars. If, on the other hand, you
decide to sell, you will be selling Euros with US Dollars.
The currencies explained:
EUR = Euro
USD = United States Dollar
GBP = British Pound
JPY = Japanese Yen
No comments:
Post a Comment