What is Forex
Forex or Spot Forex is one of the best foreign exchange buying and selling an online marketplace. Here you can sell a country’s currency and buy another country’s currency.
For example, America or the USA currency is dollar and Britain or the UK currency is the pound. IN the forex market you can buy pounds by selling dollars or you can buy dollars by selling pounds. Not only pound or dollar, but you can also exchange here most of the country’s currency.
How is it possible to earn from forex market?
The value of different countries currency is always variable. You might have seen in the magazine that sometimes dollar is getting stronger against the dollar or sometimes the money is stronger against the dollar and it is happening every single day. So, if you have bought dollars, you can buy euro from the dollar after the price of the euro against the dollar or if the Euro is strong against the dollar, you can get more dollars by selling euro.
Maybe you had 100 dollars that you bought 80 euro by selling your dollars. Later, after the price of the Euro was raised, it was sold to $ 120. In this way, you can earn. Only we can profit from stock exchange market when the share price increases only in the stock market. But in the forex market, a currency is strong or weaker it doesn’t matter, we have the opportunity to profit in both cases, which is the biggest advantage of the Forex market.
Forex Trading facility:
In the past, only the wealthy or the banks would have the opportunity to trade on the forex market. But with the change of time now, anyone can trade on the Forex market by forex broker from any country in the world.
Starting with a dollar of 1 Forex trading is possible. Almost all Brokers will give you free demo trade, which is virtual money. So first you can prepare yourself to own free demo trade then you can start a real trade by depositing money.
Forex market is very large and this market cannot be manipulated. The biggest stock market in the world is the New York stock market and Forex market size is more than 25 times. Remember, the price of the dollar or the euro does not determine the price of any country’s government. In the context of economic conditions and financial events of different countries, prices of different currency are changed automatically every day. Remember, all the countries of the world will buy dollars or euro at the same price you buy. Scalping is a very popular word in forex. It means open to trading for a very short period. Every little change in the forex market can make a well amount. Many people open a trade only for 10 or 15 seconds and if they get their profit then they leave the trade.
– Forex market is open from Monday to Friday, 5 days a week for 24 hours. And so, if you are a businessman or an employee, you can trade on your forex market conveniently.
– Forex trading allows you to sit at home, there is no need to go outside. And so, you can enjoy your time with your happy family.
– To trade in the forex market, you have to do everything online and it is easier to deposit or withdraw from account opening.
If you are a good trader, people will be encouraged to deposit with you and in that case, you can manage their trade and you will receive a part of their profits.
Above all, a successful and efficient forex trader can earn a huge amount from this market.
It is recommended to mention, to be a skilled and successful trader, you will have to study a lot about Forex market, make yourself eligible for this market. Anyone from the forex market can earn a lot without knowing anything but it’s not happened all the time. Remember, Forex market is as challenging as the stock market. Without knowing anything will be initially successful, which is also happened with the stock market. But to survive for a long time, there is no alternative way except being an expert in forex trade.
And one thing, there is no recession in the forex market. Because you can only buy on the stock market, but you can buy, sell or both at Forex market which you want.
Remember One Thing,
When the stock market is going down and down, in forex, one currency is always up!
What are the requirements for forex trading?
If you have a personal computer or a windows mobile phone with internet connection, it is so enough for forex trading.
How do I buy or sell the dollar and other currency?
To trade forex, you first have to open an account with a forex broker and deposit it. The account can be easily opened online in two minutes. You can immediately deposit in your account with various online payment methods such as PayPal, Alert Pay, Liberty Reserve etc. and start happy trading forex.
But usually, most people deposit with the forex brokers through the bank. In that case, after the account opening, you will get detailed information about your broker’s bank account number and bank deposits.
Once the deposit has been completed on your account, you can start trading. Forex trading is done through online software.