Forex is an international financial market meaning foreign exchange. It can be interpreted as buying one currency and selling another currency. Please visit this website for more information https://support.instaforex.org/en/Forex_education?x=EZXC
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History of forex:
Before the 1970s currency of one country was exchanged by the value of gold . After 1970s being computer technology developed currency is exchanged by the another currency. Every major currency of the world is independent now. There is no interfere with each other. Forex is an OTC( over the counter ) market in which buyers and sellers can easily exchange their currencies at any time. Not having centralized market it is the most liquid and largest market in the globe. Now a days it is thought that the average traded value has exceed $5 trillion per day.
How Forex works:
Forex market is an internationally online or internet based currency exchanging market through regulated broker house/ dealer. In this market different currencies are traded( bought and sold) through broker house which makes link clients to the central bank from one country to another country.No any rule of the country can control this market because it is open 24 hours from Monday to Friday.There is no need daily closing like traditional stoke market.
Forex Market Advantages:
* Minimal capital investment
* High liquidity
* No direct sales
* Exchange at any time
* High yield
* Large trade volume
Forex vs Stocks Market:
Advantages Forex Market Stocks Market
* Trade monitoring & control by own self Yes No
* buy - sell any time Yes No
* Instant execution Yes No
* 24 hours open Yes No
* No middle man Yes No
* No market manipulation Yes No
Participants in the Forex market:
* Banks and financial institutions are the biggest participant.
* Brokers act as intermediaries between client and bank
* Big moneyed clients are used to invest in other countries
* Central banks always influences the value for foreign exchange
* Now every single person is able to open Forex account and can conduct online Forex trading.
Forex Trading Plan:
* Forex trading system/strategy
< Fundamental and Technical Analysis>
* Money management
* Emotion management
Currency Pair:
Currency pair is a Forex instrument such as EUR/USD. When you trade in forex market through a broker then you exchange two currencies in pair. For example : If you buy EUR , you pay USD and if you sell USD , you pay EUR. . Here EUR means EURO and USD means US Dollar.
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