Forex Trading Overview
Forex means foreign exchange. In Forex, you will be buying or selling currencies and later as the currency rate go up or down you make a profit or loss. Do you know that every day over trillion transactions are done in Forex exchange market as it is one of the big markets in the world? Forex is the place in which currencies are traded and a very big market. The Forex market allows you to buy and sell currencies with a click of a mouse button. If you think trading Forex is easy and want to give it a try then you can get $5 free to try!
Forex is a 24/5 open market. It is very liquid and fast meaning anytime currency rate can go up or down, you don’t have to wait longer for the profit or loss to happen.
Who Can Trade Forex?
Anyone having access to a computer or android devices and internet can trade Forex, you only have to register with a broker to start trading.
Give It a Try! No Deposit! Trading Forex Is Easy!
3 Steps to Trade Forex and Earn Money, Give It a Try for Free!
1. Join a Forex broker, I recommend joining here this one will give you $5 for free to try. You can make real money with this bonus. You can also make deposits to trade large volume.
2. Get $5 free.
3. Download the MetaTrader software required to make trades, you can download from the broker you have joined and started trading.
There is no specific place for buying and selling currencies. The Forex market is open 24 hours a day, five days a week, and currencies are traded worldwide.
Make or Lose Money
This is why we do Forex trading and exchange currencies in this hope that it will be profitable for us. Let’s take a look at a simple example of how you can make money trading Forex suppose you have placed a buy order and later the rate went up so you make profit alternative if the rate goes does then you will lose the trade.
Currencies are quoted like USD/EUR which means you pay US dollars to buy EUR. The first currency of a currency pair is called the base currency, and the second currency is called the quote currency. This shows how much of the quote currency is needed to buy one unit of the base currency.
For example, if the USD/EUR pair is quoted as being USD/EUR = 1.1400 and you buy, this means that for every 1 EUR you purchase you have to pay $1.1400 US dollars.
Requirements for Trading in Forex
You don’t need any extra tools simply an active internet connection and a computer or smartphone with a software called MetaTrader 4 installed from the broker. MetaTrader 4 can be downloaded from the broker for trading every broker has its own MetaTrader 4. Nowadays brokers also provide android MetaTrader 4 app to trade while on the go.
Choosing a Broker
For trading, you have to choose a Forex broker. You need to have an account with a broker for trading. It is really easy just join any online broker and deposit desired amount and start trading Forex.