Monday, October 02, 2006

What is Forex Trading!?

You may have heard people mention they earn money online using 'forex' - but just what is Forex and what is all the fuss about?

Forex or ForEx, is an abbreviation of Foreign Exchange (which can also be shorted to just FX). International banks and multinational companies trade foreign currencies - it is estimated that $1.9 trillion (yes you read that right,) of trade is done on the forex markets daily.

The most popular currencies traded on forex markets are US dollars, the Euro, Japanese Yen and the British Pound.

The foreign exchange market is popular and unique due to large number of different traders in the market, the high volume of trades completed and constantly fluctuating market rates influenced by a larger number of factors.

It is important to avoid forex scams, the general rule applies - Stay away from opportunities that sound too good to be true.

1 comment:

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