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What is forex trading?

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  • What is forex trading?

    Forex, or foreign exchange, can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another – if you have ever travelled abroad, then it is likely you have made a forex transaction.

    While a lot of foreign exchange is done for practical purposes, the vast majority of currency conversion is undertaken with the aim of earning a profit. The amount of currency converted every day can make price movements of some currencies extremely volatile. It is this volatility that can make forex so attractive to traders: bringing about a greater chance of high profits, while also increasing the risk.

  • #2
    Once you have made up your mind to participate in online trading, you must select a forex site to get access to the financial markets. Individuals need an intermediary for online forex trading. And this step should not be underestimated. A broker must meet certain requirements for you to trade safely. Visit tradersunion.com to learn how to select a reliable platform.

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