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The Forex market, or Foreign Exchange Market is a worldwide market where selling and buying of currencies occurs. Individuals involves in this market can do transactions for a 5 days in a week, 24 hours a day and its daily worth are 1.5 trillion US dollars approx. The Forex market has started its operations in 1971 when the fixed currency exchanges market was closed. Forex market thanks to the latest technology because trading has grown from 70 billion US dollars a day to the existing level. Approximately there are 5,000 institutions areinvolved in Forex market. Parties which are involved in Forex market are banks, foreign currency brokers and commercial companies and some. The largesttrading centers of Forex are located in New York, Hong Kong, London, Paris, Tokyo, Paris, Frankfurt and Singapore. As stated above, technology has produced a boom in the market of Forex. With the arrival of online investing made small investors possible to take advantage of the Forex market. With the passing of years many regulations have improved and allowed smaller transactions to occur.The objective of trading on any market is to buy at low and sell at high. The foreign exchange market Forex is no exception. The goods and services which are traded on this market are exchange rates of different currencies of different countries. As any other goods/products the currencies have their values and prices. Your job as a Forex trader is to determine the trend of the exchange rate of currencies and thenpurchaseagrowing currency or sell a devaluingcurrency, and then yield your profits through implementation of a reverse transaction. Each currency has a specific 3-letter code. For example, dollar of US is coded as USD, Euro of European Union is coded as EUR, British Pound of England is coded as GBP, Swiss franc of Sweden is coded as CHF, and JapaneseYen of Japan is coded as JPY. Currency rates of currencies are equal to ratios of currency units of different countries relative to each other.The exchange rates are usually expressed as 5-digit numbers. For example, exchange rate of USD/JPY is equal to¥78.492; it means that value of 1 US dollar is 78.492 Japanese Yen. On the other side, GBP/USD is equal to $US 1.5898means that value of 1 British Pound is $US 1.5898. Some of the advantages of Forex are as under; Forex brokers can earn money by setting the spread, in Forex market they do not work on a commission basis. The spread in Forex market is recognized as the difference between what a foreign currency can be bought for and sold at. The Forex market is open, as stated above, 24 hours a day, 5 days a week and over the internet it is also available to you at the push of a button. The Forex market is a giant one and with asks offers bids and the high number of transactions are taking place on a daily basis that’s why the Forex market remains liquid. It means there is always a purchaser and a seller for any currency. Get the latest breaking Currency News, Forex News, Forex Daily News, Forex Breaking News, Currency Breaking News and Forex Headlines. At Forex Holder, get latest Currency News & Forex trading news from around the globe like of NZD News and INR News.
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Currency News, Forex News, Forex Daily News, Forex Breaking News, Currency Breaking News, Forex Headlines,
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