Introduction to Forex Trading
The foreign exchange market, also known as FX or Forex trading, is a global decentralized or over-the-counter (OTC) market for the trading of currencies. It is by far the largest market in the world (Forex trading surpasses $4.9 trillion daily), followed by the credit market.
Unlike some other markets, this is no central market for Forex trading. Currency trading is all done over the counter electronically on global computer networks between individual traders. There are five major Forex trading centers: Frankfurt, Hong Kong, London, New York and Tokyo.
The Forex market is open 24 hours a day, five and a half days a week, and operates across nearly every time zone, which makes for an active market in a continual state of flux, with prices changing all the time.
The Forex market is open 24 hours a day, five and a half days a week, and operates across nearly every time zone, which makes for an active market in a continual state of flux, with prices changing all the time.
IQ Option provide regularly updated information on many popular pairings, including the popular Bitcoin cryptocurrency in currency index.
Basic Principles
When currencies are traded on the Forex market, they are bought and sold in what are known as currency pairs, where one currency is used to buy another.
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The pairs have been created to make comparing currencies easier, and as a way to better understand the value of one in relation to the other. The EUR/USD pairing is among the most popular.
In currency pairs, the first currency is the base and the second currency is referred to as the counter currency.
When buying a currency pairing, you take what is known as a 'long position', and when selling you take a 'short position'.
In currency pairs, the first currency is the base and the second currency is referred to as the counter currency.
When buying a currency pairing, you take what is known as a 'long position', and when selling you take a 'short position'.
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