Forex, the basics
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients have access to the latest software, trading tools, apps and some of the most accurate quotes in the market. In addition, we ensure that all clients stay well informed, on all aspects of trading by providing them with access to some of the most detailed edu resources on the market. Here’s a brief recap on the forex market. The forex market is where all currencies are traded, in pairs. The market is a decentralized market, with a daily turnover in excess of 4 trillion dollars. In other words, the market is so huge that it cannot be manipulated by any single entity. Traders can purchase and sell all pairs - if a trader can go long on EUR/USD – that means the trader is purchasing EUR while selling USD.
Example: Sam lives in the US and is traveling to Europe. Sam has USD and needs to buy EUR. The current exchange rate is 1.3000 USD for 1 EUR. Sam buys 1000 EUR by selling 1300 USD (1000 x 1.3000). This is a foreign currency exchange or Forex.
For more information, check out Trader’s Way.
At Trader’s Way, Prime Online Forex and CFD broker, we ensure that our clients have access to the latest software, trading tools, apps and some of the most accurate quotes in the market. In addition, we ensure that all clients stay well informed, on all aspects of trading by providing them with access to some of the most detailed edu resources on the market. Here’s a brief recap on the forex market. The forex market is where all currencies are traded, in pairs. The market is a decentralized market, with a daily turnover in excess of 4 trillion dollars. In other words, the market is so huge that it cannot be manipulated by any single entity. Traders can purchase and sell all pairs - if a trader can go long on EUR/USD – that means the trader is purchasing EUR while selling USD.
Example: Sam lives in the US and is traveling to Europe. Sam has USD and needs to buy EUR. The current exchange rate is 1.3000 USD for 1 EUR. Sam buys 1000 EUR by selling 1300 USD (1000 x 1.3000). This is a foreign currency exchange or Forex.
For more information, check out Trader’s Way.