WHAT IS FOREX?

Forex stands for foreign exchange. It is a world wide decentralised market meaning that it can be done from any part of the world. Unlike, share markets which run only during a particular time, forex trading can be done round the clock except on weekends. What we do in forex trading is promoting international trading by converting between currencies. For example, we can buy Indian goods using US dollars. It is estimated that the global turn over of forex market is about $3.98 trillion daily. This keeps on increasing day by day. The exchange rate of currencies fluctuates every second and also the exchange rate depends upon who you are trading with. The main aspect of foreign trading makes it special is that any one can do it with a small amount of investment as low as $50. But, before going to the actual trading, there are lots of strategies to learn in order to become a successful forex trader. The secret behind successful forex traders is that they continuously find ways to make profit from trading which is what most of the others lack.