What is Forex

Forex Definition

There are more and less popular pairs of exchange in the forex market.Euro Dollar is one of the most important pairs and you are likely to see it written in the form of EUR/USD on all forex display screens. There are of course other tradable pairs such as GPB/USD (British Pound/ American dollar), USD/JPY (American dollar/Japanese Yen), USD/CHF (American dollar/Swiss Franc). Yet, they are far less popular than the EUR/USD pair.

What are Forex benefits?

First of all, forex market comprises the biggest number of participants with the largest daily transaction volume. All the transactions are conducted within seconds, following online quotes. Forex market is opened 24 hours a day, 7 days a week and can easily be accessed from anywhere within a computer environment. A trader is his own boss he can open a position for any period of time he wants without any fees attached. The only thing he will need to extra pay is the difference between buying and selling prices. Yet, one of the greatest forex benefits is that a trader has an opportunity to profit much more than he originally invested.

How can forex trading be rendered?

In the past, forex trading could only be rendered through banks. Today, with the ushering of new electronic revolution, there are myriad of options. Many online forex trading companies have emerged and started offering a wide range of services for traders all over the world, by means of online forex trading platforms. These platforms can easily be accessed if one has a computer and an Internet connection.