Forex is a very interesting business to venture into in this age and economy as it has huge profit in it but of course with the right knowledge.
WHAT IS FOREX?
The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of about $2 trillion a day.
WHAT IS TRADED IN FOREX?
The simple answer is money. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example, the Euro and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
When you buy, say, US dollar, you are in effect buying a share in the US economy. In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to the other countries' economies. Unlike other financial markets like the New York Stock Exchange, the Forex market has neither a physical location nor a central exchange. The Forex market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
So basically you have the basic Idea if Forex and if you want to know more pls do contact us via our mail or numbers provided on this site or better still, click the button below to get in touch with us now.