What is Forex? We'll try to explain it in simple words.
You may have already participated in Forex trading if you traveled abroad and bought local currency.
FOREX is simply an abbreviation for “foreign exchange”. But Forex trading itself is more than just currency exchange.
Suppose you changed 600 euros into dollars at the rate of 1.20 USD for 1 EUR. You got 720 dollars but didn't spend them for some reason. A bit later, the euro dropped to 1.15 USD, and you sold your dollars back, thus getting 626 euros. So you became 26 euros wealthier by making two exchange transactions and holding your money.
This is Forex trading in a nutshell. Traders buy amounts of certain currencies or commodities such as gold or oil and hold on to them while observing exchange rates and waiting for a good opportunity to change some currencies back.
Now the vast majority of traders work online and use the services of online exchange offices called brokers to take full advantage of constantly moving exchange rates.
Trading with an online broker is very beneficial. You are not tied to a specific location and can trade anywhere — at home, on vacation, even in traffic jams. The main thing is that you have a stable Internet connection.
Another great feature is that the Forex market does not sleep. It is open 24 hours a day 5 days a week, so you can customize your trading schedule to suit your daily routine.
Forex trading is a big and exciting world, and we can help you take the first steps.
A AML ― Anti Money Laundering, a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. Appreciation ― a currency is said to "appreciate" when its price increases against a specific currency ...
Forex Game. Main menu and useful links. Go to https://forex.game. The main menu is located at the top of the site and includes the following sections: HOME, TOURNAMNETS, RATINGS, AFFILLIATE PROGRAM, HELP, EDUCATION and NEWS. 1. "HOME" Click the HOME ...
1. What is Forex? Forex is an interbank market that took shape in 1971 when global trade shifted from fixed exchange rates to floating ones. This is a set of transactions among Forex market agents involving exchange of specified sums of money in a ...
The most popular competitions, profitable trades and successful traders Forex Game supports 3 types of ratings: top-5 best traders - based on the maximum value of the total profit gained by a trader for the whole period of participation in Forex Game ...
A Forex Traders Competition is a type of activity, when participants, having equal time limits and rules, compete against each other in Forex trading. Trading is performed in a Demo account. So, traders do not bear the risk of losing real money. ...