Forex Trading Rookie

[robert.miner]

Hi Meta404..there is many question from you..i try to answer about different fx from binary. In binary you just need to guess whether the chat is going up or down in a given time. But in forex after you place an order there is no limit time to trade unless you set a stoploss or takeprofit.

[Meta404]

Hello.

I'm quite new to this FX world and I'm loving it. I was attracted by those flashy ads about Binary Options but later found out that people confused it with betting. I heard that FX is the most liquid market in the world, so I thought maybe it's far from betting.

I am too young to start trading but I plan to educate myself as much as possible and have a drive for working hard at it. I just had a few questions before that.

1. How does FX differ from Binary options?
2. How does FX work?
3. How is it legal?
4. If FX defines the buying and selling of currencies, how do we lose money?

Thank you very much for reading.