What is Forex and Its Benefit
Forex or Spot Forex is the foreign exchange buying and selling. In forex market you can sell a country's currency and buy a country's currency.
For example, the currency of the United States or USA is dollar, Britain or the UK currency is pound. You can buy dollar by selling a pound or pound at the Forex market. Apart from the dollar or pounds, there are also different countries where you can buy and sell in Forex market.
H
ow is it possible to earn from forex market?
The currency of various countries is the continuation of the currency. You might have seen in the magazine that sometimes it is getting stronger against the dollar, and sometimes the money is strong against the dollar. This is the highest rate of currency in the world. So, if you have bought dollars, then the price of the euro against the dollar, then you can sell the dollar and buy the euro. Again, if the Euro is strong against the dollar, you can get more dollars by selling euro.
Maybe you had $ 100 that you bought 80 euro by selling. Later, after rising Euro, it sold it to $ 120. This way you can earn. We can profit if the share price increases only in the stock market. But in forex market, a currency is strong or weak, we have the opportunity to profit in both cases, which is the biggest advantage of Forex market.
Advantages of Forex Trading:
In the past, only the wealthy or the banks could have the opportunity to trade on the forex market. But with the change of time now, due to the emergence of various Forex Brokers and competition, anyone can trade on Forex market from any country in the world.
- It is possible to start Forex trading with just 1 dollar. Almost all Brokers will give you free demo trade, that is, with virtual money. So first you can prepare your own free demo trade and start a real trade by depositing it with a demo trade.
Forex market is very large and this market can not be manipulated. The biggest stock market in the world is the New York Stock Market and the size of the Forex market is 25 times more than that. Remember, the price of the dollar or the euro does not determine the price of any country's government. In the context of economic conditions and financial events of different countries, prices of different countries vary automatically. If you buy dollars or euros at the same price, all the countries of the world will buy dollars or euro in the same price. - Large leverage or loan facility is available to trade in forex market, and so you can profit from very little market movement.
A very popular word in Scalping Forex. It means open trade for a very short period. It is possible to get good profit with very little change in Forex market. Many people open a trade for 10 or 15 seconds, and if they get a profit, they leave the trade.
Forex market is open from Monday to Friday, 5 days a week for 24 hours. And so, if you are a business or a job maker, you can trade on your forex market conveniently.
Forex trading allows you to sit at home, there is no need to go outside. And so the family can spend a lot of time.
To trade in forex market you have to do everything online and it is easier to deposit or withdraw from account opening from account opening.