What Is Forex And How Does It Work A Beginner s Guide

Forex trading involves trading one currency for still another to produce a profit. Imagine you're planning a trip to Europe and need to change your pounds into euros. The rate at which you'll trade these currencies is decided in the Forex market. Unlike stock markets, Forex works twenty four hours per day, five days weekly, enabling you to deal at your convenience. It's a decentralized industry, indicating there's no central change; as an alternative, trading does occur through communities of banks, brokers, and financial institutions.