Forex write for us
What is Forex?
Forex (also known as FX) is simply short for “currency exchange” in English. The forex market allows you to speculate on price movements in the global currency market.
A Forex trader speculates on the price movements of one currency against another to make a profit. Below, FOREX.com takes an in-depth look at all the critical features of forex trading.
Key facts about Forex
Forex is the most traded market in the world, with over $6 trillion* traded daily. To put it in perspective, the average daily trading volume in the stock market is only $22.4 billion (4% of the size of the Forex market).
You have probably already traded currencies.
When you are on vacation in another country, you must exchange your money for foreign currency to spend it there. As simple as this sounds, this means that on some level, you have already experienced this type of trading.
The Forex market is a currency exchange market in which one currency is valued in relation to another. If you have travelled to Europe and have had to buy Euros, you have done it using your local currency or US dollars; therefore, you have traded a currency pair.
Tradable currencies are offered in pairs.
As we mentioned before, when trading the Forex market, you will exchange one currency for another. For example, the Mexican peso is against the US dollar (MXN/USD). This calculates the value of the first currency or base currency.
There are always opportunities.
Forex is an exceptionally liquid and volatile market, and it constantly reacts. This makes it especially attractive to day traders looking for short-term gains. You can visualize multiple investment opportunities in a day by looking at different pairs simultaneously.
No need for bags
Unlike stocks that use exchanges like the New York Stock Exchange or the London Stock Exchange, the foreign exchange market is traded through a global network of banks.
Never sleeps
You can trade Forex 24 hours a day, five days a week. It is because the time zones of the four malls (London, New York, Sydney, and Tokyo) overlap. It means that when one closes, another market opens.
*April 2016 average daily volume from the BIS 2016 Triennial FX Report
**April 2016 average daily volume from Cboe Global Markets
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