A: This is the currency trading market (hence the name Forex - Foreign Exchange - currency exchange). It is the largest financial market in the world, open 24 hours a day, five days a week, except weekends and holidays. The daily market turnover amounts to over $ 5 trillion.
Q: What does it mean to trade Forex?
A: Market orders are the exchange transactions - you buy one currency for another (such currencies are called a currency pair). Due to the difference in exchange rates in relation to each other, you make a profit. Many economic factors affect the exchange rate and make certain currencies more profitable.
Q: Is it expensive?
It all depends on your strategy and the chosen leverage. Virtually all the money you invest in trading you use as a trading instrument. It is important to remember that you are risking this amount when you open market orders and spread the risk to stay profitable.
Q: Is there a specific trading center in the Forex market?
A: No, not really. Unlike commodity exchanges, Forex always has been and remains a decentralized market.
Q: What time can I trade?
A: The market is active throughout the working week around the clock. Each individual exchange has its own opening hours, so market activity is uneven.
Q: Who are the main market players?
The market is massive and includes central banks of countries, large investment companies and commercial companies, as well as individual brokerage firms and private investors. The list of individuals interested in trading is constantly growing.
Q: Who determines the prices?
The market itself creates prices for currency pairs due to the volumes of supply and demand for certain assets. Every minute, tens of thousands of deals adjust the price. There is no single company or group of persons that would determine the value of a particular currency.
Q: What do I need to start trading?
At the moment, almost all operations are performed remotely via the Internet. So all you need is your computer or smartphone with network access and access to the trading platform.
