⌟ FOREX

INTRODUCTION

FOREX is an inter-bank market that was started in 1971 when global trade started to move from fixed exchange rates to floating market rates. It is a collection of purchases, executed between FOREX market representatives, that involve exchange of money between two countries with units of currencies, carried out at a predetermined rate of exchange. The currency exchange rate used in these transactions is determined by supply and demand patterns.

 

FOREX MARKET

In the FOREX market, one currency is always strengthening against another, and therefore, one currency is always weakening against another. Because of this, you have equal opportunity to buy or sell to enter the market.

With approximately $4 trillion USD traded in the market every day, the FOREX market has the highest liquidity in the world. Basically, this means that one can buy almost any currency he wishes in high volumes while the market is open. The FOREX market is open 24 hours, 5 days a week – Monday to Friday. Trading begins with the opening of the market in Australia, Asia, Europe to follow and then the USA until the markets close.

CURRENCY PAIRS

There are hundreds of currencies in the world, and each has a three letter symbol on exchange. American Dollars are represented in USD, Euros in EUR, Swiss Francs in CHF and British Pounds in GBP.

These currencies can be of two types including major currencies and minor currencies. The major currencies are derived from the most powerful economies around the globe like US, Japan, the UK, the Euro Zone, Canada, Australia, Switzerland and New Zealand. These currencies combined with the minor currencies create forex pairs.

Disclaimer

Fxnice is the trading name of Venture Securities Limited and is authorized and regulated by the Financial Services Authority of Honduras (Company ID: 588121).
Risk Warning: Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXNICE brand based on the legal requirements in his/her country of residence.

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