Forex is quite simple; it’s the global financial market that allows one to trade currencies.
If you think one currency is stronger than other one. There is a chance that you will make profit in trading. Once upon a time, before a global pandemic happened, people could actually get on airplanes and travel internationally. If you are travelling to another country. You usually have to find a currency exchange booth at the airport. And then exchange the money you have in your wallet into the currency of the country you are visiting.
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Forex trading, or foreign exchange trading, involves the buying and selling of currencies. The goal is to profit from the fluctuations in currency exchange rates. For example, you might buy the Euro and sell the U.S. dollar, hoping the Euro will increase in value relative to the dollar.
Forex is traded in pairs, like EUR/USD, GBP/JPY, or USD/JPY. The first currency in the pair is called the “base currency” and the second is the “quote currency.” The exchange rate tells you how much of the quote currency you need to purchase one unit of the base currency.
Forex trading happens on a global decentralized market, 24 hours a day, five days a week, and it’s one of the largest financial markets in the world.
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