Are you interested in the Forex business? Read this:

As a general rule, it makes sense to avoid Forex brokers that promise abnormally large returns and to make sure their funding methods are secure and reliable.

What is Forex?

Forex is short for foreign exchange. The Forex market is where currencies are traded. It is the largest and most liquid financial market in the world with an average daily turnover of $6.6 trillion as of 2019. The Forex market is based on currency fluctuations. Forex traders speculate on the price fluctuations of currency pairs, making money on the difference between the buying and selling prices.

When people think of investments, they tend to think of the stock market. Stocks certainly get the most attention in the financial media. Other markets, such as bonds and commodities, also garner significant interest. However, there's one financial market that is larger than all the rest put together in terms of the trading volume. That is the foreign exchange market, or Forex for short.

According to the Bank for International Settlements 2019 Triennial Central Bank Survey, the Forex market handles more than $6 trillion of trading volume every business day. Foreign exchange encompasses a large variety of participants, including governments, banks, multinational companies, institutional investors, tourists and business travellers, retail traders, and more. The immense amount of trading volume leads to significant opportunities for shrewd traders.

However, it's important to realise that Forex trading is a zero-sum market, meaning that for every winner in a transaction, there is someone who lost an equal amount. That's because currencies don't produce profits or pay dividends as a company would.

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The Trenchat Team.
10/09/2022