We need education and foreign exchange courses to safeguard ourselves from entering into currency trading recklessly, without even knowing the simplest rules. The New Zealand market is the first to open, followed by Australia, the Asian markets, the Middle East, Europe and the UK and then the USA, trading 24 hours a day worldwide for five and a half days.Ĭurrencies are bought and sold on the foreign exchange markets according to technical and fundamental analysis, buying and selling with the aim to make a profit as currencies rise and fall.ĭON’T MISS: The Need For Forex Education And How to Get It – Compare FX Education Providers Alternatively, check out copy trading where you automatically copy the trades of the top traders.įorex is the most traded market globally, turning over more than 5.3 trillion US dollars per day.

Professional traders will do all of the work for you. If you don’t have the time or the inclination to learn forex trading for yourself, why don’t you look at a forex managed account.

Still, thanks to greater and greater technological advances and internet access over the past 15 or so years, individual traders can now easily access these foreign currency trading markets from their pc in the comfort of their own homes. Years ago, foreign exchange trading was only available to the big banks and institutions. Forex trading occurs on the foreign exchange markets where traders can buy and sell currencies along with banks, commercial companies, investment management companies, hedge funds, retail foreign exchange brokers and individual investors.ĭON’T MISS: Compare Top FX Brokers and get up to 4 free, no-obligation quotes Of course this is a simple currency exchange not trading. We take our pounds to the bank and exchange them for the currency of the country we are visiting at the rate set by the banks that day. The simplest form of currency exchange is familiar to us when we go on holiday.

Foreign Exchange is more commonly known as Forex or FX.

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