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What is Forex?

The Foreign exchange is a non-stop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events.

Forex is the largest and most liquid financial market in the world and transactions includes trading between individuals, large banks, corporations and other institutions and even governments.

The average daily transaction expands continuously reaching a volume of more than $4 trillion dollars.

 

Buying and Selling Currencies

Traders can generate profits (or losses) whether a currency is rising or falling by buying one currency, which is anticipated to gain value against another currency or selling one currency, which is anticipated to lose value against another currency. Taking a long position is one in which a trader buys a currency at one price and aims to sell it later at a higher price. Alternatively, a short position is one in which the trader sells a currency that he anticipates to depreciate and aims to buy the currency back later at a lower price.

 

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Currency Trading

Here are the mostly traded currencies. Currencies usually come in three letters, the first two identifying the name of the country and the last letter, the currency of the country.

US Dollar

USD

Euro

EUR

British Pound

GBP

Japanese Yen

JPY

Swiss Franc

CHF

Canadian Dollar

CAD

Australian Dollar

AUD

New Zealand Dollar

NZD

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