Forex refers to the foreign exchange market and you can potentially make money from it, perpetuating the right currencies at the right time. Foreign exchange trading, also referred to as currency trading, does involve significant risk and that is why you should know what you are doing that you can risk losing money.
Working with a Trader
Forex traders are a person or company that provides Forex traders world trading platform so that they can buy and sell currencies. They’ll also known as the currency trading broker. They will handle a very small portion of the total volume of the foreign exchange market will provide and the play will make a small percentage on your transactions.
When you are ready to learn Forex, it is advised that you open practice account so that you can get a feel for the specific platform and know-how for its works and what you should look for when you want to buy or sell currency. Once you are ready you can use your own money and manage your own Forex account, buying and selling currencies at your own risk.
You should be aware that Forex carries and this and that’s why you can only enter this market if you have experience in trading forex online. In a nutshell, you buy foreign currency and sell another at the same time stop this is why currencies are always quoted in pairs, and the exchange-rate represents the purchase price between these two currencies.