What is Forex?

in Business

Forex is considered to be the most famous and liquid currency market in all over the world, which was founded in the 1970s as a result of abandonment of the gold standard by the USA government. It is the biggest international finance market, which allows traders to make currency exchange transactions. The goal is to earn money on changes in the exchange rate. Forex trading is presented in currencies such as: US dollar, Euro, British pound sterling, Swiss franc, Japanese yen. The participants of the Forex market are: commercial and central banks, currency exchanges, financial organizations, investment funds and private persons. Regardless of the location of the participants, the trading conditions are the same for everyone. Forex opens up unlimited opportunities for a person to earn a decent income.

Forex trading

Nowadays many people from different countries want to start Forex trading. It attracts with its profitable conditions and unlimited financial possibilities. Private traders occupy about approximately $5bn of the $250bn average daily turnover. Start-up capital is not large, about $100. But new traders need to know about the main rules of Forex trading, important reasons which have a big impact on the exchange rate, basics of technical and fundamental analysis. The right choice of Forex strategy is the successful way to financial independence. But not all new traders have а higher financial education. Of course, a lot of useful information is presented on the official website, but the best way route to taken is finding a reliable broker, who will be able to provide assistance at all stages of the work. A reliable broker can also suggest you FX Risk Management Solutions.

Forex brokers

There are many Forex brokers, but sometimes it is very difficult to make the right choice. Every trader needs to have a time-tested broker, which includes good conditions for trading and a high level of technical support. One of them is forex.com. It was founded in 2001 and belongs to the famous company GAIN Capital, whose shares are presented on the New York Stock Exchange. It provides innovative trading tools and high-quality service that can satisfy every customer. The company offers some kinds of trading platforms and unique tools for achieving the best trading results. Forex.com provides a lot of useful information in English for successful trading. It also has its own learning center with special lessons and webinars for their clients. New traders are able to use a demo account for improving skills before starting work with their own money.

The best advantages of the company are as follows:

  • Minimum account size is $250;
  • Minimum trade size is 0,1 lot;
  • Leverage is 1: 400;
  • Trading platforms like FOREXTraderPro, MetaTrader4 and GAINGTX;
  • Big choice of different trading tools such as currency pairs, precious metals, commodity assets, corporate shares, popular indices;
  • 24-hour service support

Forex Up’s Forex.com review is positive, which proves integrity and honesty of the broker. Throughout its existence, it has gained trust and recognition from a large audience from all over the world.

Image Credits: Csaba Nagy

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