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What is Forex? Forex trading for beginners

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  • What is Forex? Forex trading for beginners

    The foreign exchange market, also known as Forex or FX, is the largest financial market in the world. This beginners guide will help you to start trading Forex like a pro.

    If youve ever travelled to another country, you usually had to find a currency exchange broker and then exchange (swap) your local currency into the currency of the country you are visiting. This is the basic principle of the Forex market, buying currencies when the price is going up and selling currencies when the price is going down.

    You may have heard of the New York stock exchange (NYSE) and thought to yourself that this is where the real money is being made. It may be a surprise to you to find out that the Forex market is actually the giant when it comes to trading, transacting over $5 Trillion per day compared to $22.4 Billion per day on the NYSE.

    With an average daily trading volume of $5 trillion, Forex is one of the most actively traded markets in the world. Due to this huge popularity, the Forex market attracts many UK traders, both beginners and experienced traders alike.

    Read the full Article here:

    https://starttrading.com/blog/what-i...for-beginners/

  • #2
    Very nice explanation for newbies.

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    • #3
      I like this article a lot as it provides good summary of what Forex really is. I would just add that it is biggest market in the whole world with daily turnover of several billions USD which provides significant liquidity levels to it. And, of course, there is significant earning potential too

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      • #4
        I believe the Forex market is well over a trillion dollars.

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        • #5
          If feel yourself really a beginner maybe should start with basic forex education: https://profitstar.net/product/beginner/

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          • #6
            If you are a beginner you need to think about two things - how to learn to trade without rushing (stay away from a live account at the beginning, just focus on learning!) and how to avoid getting scammed, which is a huge problem in this industry.

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