Introduction to Foreign Exchange Trading 1-What is Foreign Exchange

Whatisforexrebate 4Browse 0Comments Collection

If you ever travel to another country, you usually have to f cashback forexd an airport currency What Whatisforexrebate forex rebate booth and exchange the currency of that country You go to the counter and see the screen showing the different bestforexrebate currency exchange rates you will find that one dollar is worth a hundred yen and you think: Wow! I have ten dollars, Ill be a rich man! (This exciting moment will soon fade, because after you buy a can of soda at the airport store, youve already spent half of your money.) When you change to another currency, youve basically engaged in a foreign exchange forexrebatenetwork transaction! For example, if you are an American visiting Japan, you are already involved in forex trading when you sell dollars for yen When you stop at a currency exchange booth before you are ready to go home and try to change your unused yen back, (spending in Tokyo is expensive and if you have money left over this is pretty incredible), you will find that the exchange rate has changed The change in the exchange rate is what allows you to Some of the changes that enable you to make money trading in the foreign exchange market The foreign exchange market, often called the foreign exchange market, or simply FX, is the largest financial trading market in the world Compared to the New York Stock Market, which has a daily volume of only $74 billion, the foreign exchange market holds a definite advantage with a daily volume of $5 trillion Our foreign exchange market is very powerful!  Lets use the monster in the chart below compared to the New York Stock Exchange When this monster meets the foreign exchange market, you will see the following sight…… Wow, the New York Stock Exchange and the size of the foreign exchange market compared to the size of the New York Stock Exchange, it is simply a small witch below is the chart of the New York Stock Exchange, Tokyo Stock Exchange, London Stock Exchange and Foreign exchange market average daily trading volume comparison:  Money market size to 53 times higher, is indeed quite large! But dont worry, there is one thing to note $4 trillion in size is the entire global foreign exchange market, but retail traders (i.e., retail foreign exchange investors) trade in the spot foreign exchange market at about $1.49 trillion Therefore, you see, the foreign exchange market is indeed very large, but not as large as the media expects you to think Do you now have an idea of the foreign exchange market All of it? We are just at the beginning! In the next lesson, we will learn exactly what is traded in the Forex market

Articles related to this article