Forex Trading

The foreign exchange (currency or FX) market is where currency trading takes place. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.

Today, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements.[1] Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.[2]

The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.(via wiki)

The Rising of Forex is due the increase of world speculation merged with the availability of high speed internet world wide. Years ago the forex was only possible to those with high amounts of funds in their bank accounts and good relations with their bank managers. Nowadays with amounts as low as 1 dollar, you can already start trading your way to wealth. Dozens of forex brokers are available, and if you have an e-currency account (paypal, webmoney, etc) you can start trading in a matter of minutes, and it also makes cashwithdrawal very easy and reliable, the chances you will get scammed by a broker alleging problems with your bank transaction are nule.

Here is a website full of forex resources for beginners willing to trade, it is called All Forex Brokers, and it has plenty of information for beginners and also for those initiated in the trading markets.

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