Forex, or foreign exchange, is the largest and most liquid forex robot financial market in the world. It offers countless opportunities for traders to profit from fluctuations in currency prices. If you’re new to forex trading, this beginner’s guide will provide you with the essential information you need to get started.
What is Forex Trading? Forex trading involves buying one currency while simultaneously selling another. Currencies are traded in pairs, such as EUR/USD or USD/JPY. The value of a currency pair is determined by the exchange rate, which represents the amount of one currency needed to purchase another.
The Forex Market The forex market operates 24 hours a day, five days a week, and is decentralized, meaning it has no central exchange. Instead, trading is conducted electronically over-the-counter (OTC) through a global network of banks, institutions, and individual traders.
Major Currency Pairs There are seven major currency pairs in the forex market, which account for the majority of trading volume. These pairs include the EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, and NZD/USD. These pairs are considered the most liquid and widely traded in the market.
