What Is Forex? Your Complete Guide to Foreign Exchange Trading
What Is Forex? Complete Guide to Forex Trading What Is Forex? Your Complete Guide to Foreign Exchange Trading Forex , also known as the foreign exchange market , is the largest financial market in the world in terms of daily trading volume, with over five trillion US dollars traded every day. It attracts investors looking to profit from currency price fluctuations. What Does Forex Mean? The word "Forex" is short for Foreign Exchange , meaning the exchange of foreign currencies. Trading in this market involves buying one currency and selling another simultaneously, such as buying the US dollar against the euro. How Does the Forex Market Work? The Forex market operates 24 hours a day, five days a week, and is driven by four major trading centers: Sydney, Tokyo, London, and New York . Trading is done online through licensed brokers who provide digital platforms to execute buy and sell orders. Major Currency Pairs in Forex E...