Forex Currency Trading
Forex is a currency trading market. So to trade on forex is almost the same like buying and selling currencies in the bank. But there are a few differences.
- Forex market fees are much less that bank fees, so you can get more profit with the same price change.
- You can not trade directly by yourself. To trade directly you need to become a Forex Broker, or you need to use Forex Broker Services to b able to trade. The brokers will take the fee from your trades.
- Forex market trading is made for huge amounts of currency. To solve this problem for regular traders, brokers are offering leverage. So you can deposit only 1000 USD and will trade with 100 000 USD. Pretty good, yeah?
Most popular currencies traded on Forex are USD, EUR, GBP, JPY, CHF - they are major currencies with lowest broker comissions. You can notice some currencies have similar trends - it means the currencies are dependent. Such currencies usually have lower volatility than independent currencies.