Foreign Exchange Trading or Forex trading involves the systematic buying and selling of
foreign currencies for profit making purpose. Forex trading used to be the exclusive
reserve of the rich and financial institutions, but today with the advent of the internet,
ordinary people with as little as $100 or even $1, are now making money trading forex
online. The forex market is the largest financial market in the world worth over $3.5
trillion.
Forex is traded through a Forex broker. Trading forex online is possible because brokers
have provided platformS online for forex trading. Forex is traded (bought and sold) in
currency pairs. When trading Forex, you buy one currency, while selling another. Put
another way you use one currency to buy another currency. Some popular currency pairs in
online forex trading include EUR/USD (Euro US Dollar), GBP/USD (British Pound US Dollar),
USD/JPY (US Dollar Japanese Yen) and EUR/JPY (Euro Japanese Yen).
To trade forex online, you need a computer and an internet connection with reasonable
speed. You also need the services of an online forex broker. Some forex brokers provide you
with a software application to enable you trade forex online. With other forex brokers, you
simply trade forex online at their website. You setup a forex trading account with a forex
broker and fund it with supported payment methods. Payment methods accepted by online forex
brokers include e-gold, Wire Transfer, e-Bullion, PayPal, Liberty Reserve, WebMoney,
etc.The amount of money an online forex trader makes depends on the amount invested and the
size of currency fluctuation in your favour. In simple terms, the more money you invest,
the more money you could make,but there is a company that use your money for forex and
other business that can give you good returns by investing with them without any
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