The Basics Of Currency Trading (Forex Basics)

• The Basics Of Currency Trading

A.) All currency trading is done in pairs. Unlike the stock market, where you can buy or sell a single stock, you have to buy one currency and sell another currency in the forex market. Next, nearly all currencies are priced out to the fourth decimal point. A pip or percentage in point, is the smallest increment of trade. B.) Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day. C.) Currency Trading is the act of buying and selling (trading) different currencies of the world. The Foreign Exchange (or Forex) is the market that allows you to trade currencies in volume.
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• Forex Basics

A.) The foreign exchange market is the market in which participants are able to buy, sell,exchange and speculate on currencies. Foreign exchange markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors.

B.) Step 1: Open a City Index or MT4 trading account. You can trade forex with either a City Index account (spread bets and CFDs) or an MT4 account (forex and CFDs).

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