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Forex 101

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What is forex? Well simply put its trading between different types of currency based upon its value. It’s likely you’ve engaged in this exchange if you traveled abroad and visited a country using a type currency other than your own. If you take a trip from the US to France you’ll have to convert your amount in dollars to euros. Based on the value of the two currency which is determined by supply and demand dictates how many euros you will receive for your US dollars. Due to the changing supply and demand of each country’s currency the exchange rates always are changing.

The forex market is also know as currency trading and is a decentralized market which spans globally. Currency trading is known to be one of the most liquid and largest market in the world. The average daily trading volume surpasses 5 trillion. With an immense market, high …