What is Forex?
The global foreign exchange market is the largest financial market in the world. A huge $4 trillion volume is traded per day. About $2.49 trillion of the $4 trillion is traded by the retail traders. Compared to the daily trading volume of the New York Stock Exchange of $74 billion, the forex market is huge!
The exchange rate of a currency is traded versus other currencies reflecting the economic conditions of each country.
What are the Advantages of Forex:
- No commissions only pay the spread
- Make money buying or selling
- No one can corner the market
- A five day 24-hour market
- Low transaction costs
- Decentralized market
- No fixed lot size
- Leverage 50:1
- High liquidity
- Limited risk
- Easy entry
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