What is Forex?
The foreign exchange market (Forex) is an international market where people buy and sell world currencies, as well as exchange them and speculate on their value.
What does it mean to trade Forex?
The direct work of a trader is to analyze the current market situation and open or close current trade orders. He's in charge of all the transactions and operations.
Is it expensive?
It all depends on your strategy and the chosen leverage. Virtually all the money you invest in trading you use as a trading instrument. It is important to remember that you are risking this amount when you open market orders and spread the risk to stay profitable.
What's the currency pair?
All transactions in the Forex market are concluded in the simultaneous purchase and sale of two currencies. These currencies are called "currency pairs"
What happens while I trade?
Currency trading is the process of buying and selling currencies in order to make a profit. The price of one currency is linked to the price of another currency, and transactions are always made in two currencies at the same time. You buy one currency with other, trying to predict which one of them will get more expencive during next time period. If your prediction is correct, you get your profit.
What do I need to start trading?
At the moment, almost all operations are performed remotely via the Internet. So all you need is your computer or smartphone with network access and access to the trading platform.