Forex is a currency trading market. The purpose of trading Forex is to get profit. Let me explain how you make money trading currencies – if 1 (one) British pound is worth 1.7 US Dollars, this means that if you take your 1 British pound to a currency exchange kiosk in your town, in exchange for dollars, you will be given $1.7. Some hours later, you see that the exchange rate has changed and a pound is worth 1.2 US Dollar. Meaning that the Dollar has increased in value against the pound. Before, a pound was worth 1.7 US Dollar but now it only worth 1.2 US Dollar.
As a trader you need to learn to open or close a position at a fair market price. Forex offers high returns for as high as 50% daily as a result of possible per second appreciation of currencies.
You don’t need an advertisement to start your Forex trading. You don’t need sponsors, database, customers or inside tips as in stocks and shares.
A trader needs a broker and you can set up an account with a Forex Broker in the comfort of your home. A trader does not need to be present in a Broker’s office to open an account. It doesn’t matter which country your Broker is based in. You can transfer money between your trading account and your bank account easily. There is no special procedure of opening an account with a Broker. Go to the site of your choiced broker and signup with them. You can start trading immediately after signing up.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment