Top Forex Trading for Beginners | Global Trade Investment Solutions ‎

Foreign exchange (also known as forex or FX) refers to the global, over-the-counter market (OTC) where traders, investors, institutions and banks, exchange, speculate on, buy and sell world currencies.
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LIMASSOL, Cyprus - Feb. 28, 2020 - PRLog -- Trading is conducted over the 'interbank market', an online channel through which currencies are traded 24 hours a day, five days a week. Forex is one of the largest financial markets, with an estimated global daily turnover of more than US$5 trillion.

Trades & Key Terminology

A 'position' is the term used to describe a trade in progress. A long position means a trader has bought a currency expecting its value to increase. Once the trader sells ( that currency back to the market (ideally for a higher price than he paid for it), his long position is said to be 'closed' and the trade is complete.

Top Forex Trading for Beginners:

An investor going short on the EUR would sell 1 EUR for 1.0916 USD. This trader expects the euro to depreciate, and plans to buy it back at a lower rate if it does.

Understanding Currency Pairs

All transactions made on the forex market involve the simultaneous purchasing and selling of two currencies.

These are called 'currency pairs', and include a base currency and a quote currency. The diagram below represents the forex pair EUR/USD (Euro/US Dollar), one of the most common currency pairs traded on the forex market.

Which Forex Pairs Can You Trade?

Forex currency pairs are known as majors, minors, and exotics.Major currency pairs are made up of the most frequently traded currencies, which are:

·         USD - The US Dollar

·         EUR - The Euro

·         JPY - The Japanese Yen

·         GBP - The British Pound

·         CHF - The Swiss Franc

·         CAD - The Canadian Dollar

·         AUD - The Australian Dollar

·         NZD - The New Zealand Dollar

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