What’s Forex?
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Posted on February 17th, 2009 in Uncategorized | 1 Comment »
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Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!
Posted on February 17th, 2009 in Uncategorized | 1 Comment »
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February 17th, 2009 at 1:41 pm
“Forex” stands for foreign exchange; it’s also known as FX. In a forex trade, you buy one currency while simultaneously selling another – that is, you’re exchanging the sold currency for the one you’re buying. The foreign exchange market is an over-the-counter market.
Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there’s no centralized exchange for forex. All transactions happen via phone or electronic network.