The forex market is also called the foreign exchange market, and it is the most liquid market in the world. It is also an intangible marketers open 24 hours a day, for five days a week. They take off on the weekends. The forex market is filled with traders. The traders purchase and sell currencies. The most frequently bought and sold currency is the USD. It is the most common currency in the forex market, and it is involved in almost 80% of the trading activities. In this guide, I will provide you with more forex trading fact that would interest you.
- Back then, forex trading was only possible for banks and institutions with at least $40-$60 million in liquid money. Today, people with a much smaller Sam can actually engage in all kinds of trading activities.
- Pip is a very commonly used term in forex trading, and it refers to 1/10 of a pip or even fifth decimal in the value of a currency.
- I am pretty sure that a lot of people think that the United States of America is a centre for forex trading, because of the maximum transactions that involve the United States dollar. That is not exactly true. In reality, 41% of all forex transactions actually occur from the United Kingdom, and only 19% take place in the United States of America. That is why, the London stock exchange is the trading hub for all the deals. The London stock exchange is by far, one of the most amazing places to ever exist on the planet. London, as you know, is a hub for a lot of activities.
- The internet has come so far and has revolutionised the way that forex trading takes place. Trillions of dollars are traded every single day, and a majority of force transactions take place on the internet.
- The world is filled with individuals who want to trade in the forex markets. They range from beginners to professionals. There is so much information about forex trading, and this information is attempted to be mastered by millions of people.
- The abbreviation for the foreign exchange market or forex is FX.
- Did you know that forex trading is a very high-risk investment and it needs a lot of discipline? Forex is not exactly suitable for everyone, because it involves a high-risk. It requires people who are highly disciplined, and it requires individuals who can handle the pressure that comes with a lot of trading.
- A lot of individuals attempt to profit from the forex market. I’m not saying it is impossible; I am saying it is rare. The value of a currency could be up one minute, and it could be down another minute. That is why it is very uncertain.