Forex stands for Foreign Exchange β it is the global market where currencies are bought and sold.
πΉ Full Form:
Forex = Foreign + Exchange
Also known as:
FX Market
Currency Market
Foreign Exchange Market
πΉ What Happens in Forex?
In Forex trading, you buy one currency and sell another currency at the same time.
Example:
If you believe the Euro will rise against the US Dollar, you buy EUR/USD.
πΉ Key Features of the Forex Market:
Feature Description
π Global Market Itβs the largest financial market in the world.
π° Daily Volume Traded over $7 trillion per day.
π 24 Hours Open Open 24 hours a day, 5 days a week.
π High Liquidity You can easily buy or sell.
π Profit from Up/Down You can make money if the market goes up or down.
πΉ Who Trades Forex?
Banks
Financial Institutions
Corporations
Governments
Retail Traders (like you!)
πΉ Examples of Currency Pairs:
Pair Meaning
EUR/USD Euro vs. US Dollar
GBP/JPY British Pound vs. Yen
USD/CHF US Dollar vs. Swiss Franc
β In Simple Words:
Forex stands for Foreign Exchange β it is the global market where currencies are bought and sold.
πΉ Full Form:
Forex = Foreign + Exchange
Also known as:
FX Market
Currency Market
Foreign Exchange Market
πΉ What Happens in Forex?
In Forex trading, you buy one currency and sell another currency at the same time.
Example:
If you believe the Euro will rise against the US Dollar, you buy EUR/USD.
πΉ Key Features of the Forex Market:
Feature Description
π Global Market Itβs the largest financial market in the world.
π° Daily Volume Traded over $7 trillion per day.
π 24 Hours Open Open 24 hours a day, 5 days a week.
π High Liquidity You can easily buy or sell.
π Profit from Up/Down You can make money if the market goes up or down.
πΉ Who Trades Forex?
Banks
Financial Institutions
Corporations
Governments
Retail Traders (like you!)
πΉ Examples of Currency Pairs:
Pair Meaning
EUR/USD Euro vs. US Dollar
GBP/JPY British Pound vs. Yen
USD/CHF US Dollar vs. Swiss Franc
β In Simple Words:
Forex is the online trading of currencies β where you try to profit by predicting if one currency will go up or down against another.