What is Forex Currency Trading?
Foreign exchange trading – often shortened to forex trading or even just fx trading – is the purchase of one currency while simultaneously selling another.
Currencies trade in pairs, like euro/US dollar (EUR/USD) or pound sterling/US dollar (GBP/USD). The first currency listed is known as the ‘base’, and the second is the ‘variable’. The value of the base currency is always 1.
Unlike trading on the stock market, forex trading does not take place on a central exchange. Instead the foreign exchange market is an OTC (over-the-counter) market. The main forex trading centres are in …
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