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Forex (also known as FX) is short for foreign exchange the global marketplace to buy and sell foreign currencies.
This market is worth over $6 trillion daily, with central and private banks, hedge funds, traders, and travelers worldwide open 24 hours a day, 5.5 days per week exchanging money at different prices.
Currency prices change every second, giving investors limitless opportunities to enter trades. And investors try to make money by correctly predicting the price movements of different pairs.
Most traders start their forex career with hopes of getting rich, but is that truly possible? As with any investment, there are risks, of course, and the best way to get rich is to start with a large amount of capital. Forex trading can be a real struggle, and data shows that more than two-thirds of forex traders don't make money in any given year. Yet of the one-third that make money, some are indeed getting rich. If that's your hope, safeguard your account by using stop-losses, limiting your leverage, and using a reputable forex broker.
Our hours of operation coincide with the global financial markets. Hours of operation vary depending on your location. Please note: times are subject to change during daylight saving time and during certain public holidays.
There are many reasons why people trade forex. Some people trade forex to speculate on the future direction of currency prices. Others trade forex to hedge against other investments. Still others trade forex to take advantage of interest rate differentials between different countries.
Forex trading is a risky investment. The value of currencies can move quickly and unpredictably, and you can lose money if you trade forex. There are also several other risks associated with forex trading, such as leverage, margin calls, and slippage.
A forex trading strategy is a plan that you use to decide when and how to trade forex. There are many different forex trading strategies, and the best strategy for you will depend on your individual circumstances and risk tolerance.
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