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What is Forex Trading?

What is Forex trading?

FOREX (FX) stands for “foreign exchange” (FOReign EXchange). The essence of the Forex financial market is the trading buying and selling of currencies at market prices.

Forex is actually a group of banks participating in trades, which buys and sells over three billion dollars of currency daily. The currency trading market operates on business days.

Forex is often mistaken for an exchange, which is not true as it does not have a specific address, like the London Stock Exchange or the New York Stock Exchange. Forex Trades are conducted 24 hours a day, so you can always buy or sell currencies. Forex Trades are carried out over the telephone and through special software, the forex trading terminals. This is great advantage for those who plan to earn money on Forex – all you need is a computer accompanied with appropriate software and an Internet connection, so you can work from the convenience of your own home!