01 What Is Forex – FXTM Learn Forex in 60 Seconds

Foreign exchange, or Forex for short, is the “place” where currencies are traded.

Currency trading is the exchange of one type of currency for another.

In the forex market, currencies are traded in pairs.

When a trader buys a currency, he or she is selling another currency at the same time.

Currency values fluctuate based on various economic, political and environmental factors.

Forex traders sell and buy currencies in an effort to take advantage of these changes in value.

The forex market has no physical location or central exchange as it is a global, decentralized market and trades 24 hours a day, 5 days a week.

No other market in the world trades more than forex, which is why there are many opportunities for traders.

That’s forex in a nutshell! Stay tuned for more videos.

Source: Youtube

01 What Is Forex - FXTM Learn Forex in 60 Seconds

Forex (or FX) stands for Foreign Exchange, which is the “place” where currencies are traded. In this market, exchanging one currency for another is called currency trading, which is always done in pairs. For example, if a trader wanted to exchange Euro (EUR) for US Dollar (USD), the currency pair traded would be the EURUSD. Trading currencies implies that a trader simultaneously buys one currency while selling the other. Various economic, political and environmental factors contribute to the changing values of currencies, and forex traders buy and sell currencies in order to take advantage of these swings in value. The forex market is a global, decentralized market, which has the greatest volume of trading than any other market at $5 trillion per day, has no physical location or central exchange and it trades for 24 hours a day, 5 days a week.

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Risk Warning: There is a high level of risk involved with trading leveraged products such as forex and CFDs. You should not risk more than you can afford to lose, it is possible that you may lose more than your initial investment. You should not trade unless you fully understand the true extent of your exposure to the risk of loss. When trading, you must always take into consideration your level of experience. If the risks involved seem unclear to you, please seek independent financial advice.