WHAT IS TRADED IN FOREX

Forex trading  is the simultaneous purchase of one currency and the sale of another currency or buying and selling currency from one country to money from other countries. Currencies are traded through banks, brokers or dealers, and are traded in pairs.

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For example, the Euro and US Dollar (EUR / USD) or US Dollar and Japanese Yen (USD / JPY).

Forex trading can be confusing because you are not buying anything physically. When you buy a currency, try to think of it as if you were buying something inside a particular country.

For example, when you buy the US Dollar, you are actually buying a share in the US economy. This is because currency prices are a direct reflection of the market on current and future issues of the US economy.

Therefore, the exchange rate given against other currencies reflects the overall economic situation of the country, compared to the economies of other countries.

Major currencies traded in forex:

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