This article is useful for new investors or people who are looking to trade on the Forex.
First you will need to understand the meaning of the term “forex”. Forex stands for FOReign EXchange market. This refers to the international foreign currency exchange market which involves the selling and buying of all kinds of currencies. The forex market first came into existence in the early 1970's when floating currencies and free exchange rates were first launched. Then, the forex market traders happened to be the sole players on the market who make a decision as to the value of one type of currency against another, and exclusively based upon a particular currency’s supply and demand.
The forex market is very distinctive in many ways. First the market requires little or no trading knowledge, devoid of external control and can not be influenced in any way. The Forex market happens to be the largest financial market in the world, with trades reaching up to 1.5 trillion U.S. dollars, or USD, the money moves so fast, it’s impracticable for a single investor to significantly affect the price of any key foreign currency. Also, in contrast to any stock that is infrequently traded, positions are easily opened and closed by forex traders due to the numerous buyers and sellers that are always available.
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