What is Forex?

What is Forex

The foreign exchange (Forex) is a decentralized market where currencies are traded against the prices of each other. This exchange of currencies is called forex trading when individuals do it to earn profits. The place where all the trading happens is called the forex market, currently known as the world’s largest financial market. In forex trading one buys and sells a currency in exchange of the other simultaneously. For example, you can sell the currency you have, for a currency with different prices in relation to the currency you had with you. This way you make profits by trading currencies. A forex trader buys one currency to sell it at a higher price later or sells a currency to buy it at a lower price later.

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