How? What? Why? If you’re unfamiliar with the term forex (Foreign Exchange), here’s a quick overview:
The foreign exchange market is by far the largest and most widely used financial market in the world. Every day, millions of organizations and individuals around the world trade on the financial markets, hoping to profit from its high volatility and liquidity. As a result, under normal market conditions, there will almost always be someone willing to accept your trade, whether you are buying or selling (selling).
One of the primary reasons for forex’s popularity is that no matter what time of day or night it is, the market is almost always open somewhere in the world. This is because a typical week in the forex market begins on Monday morning in Wellington, New Zealand, and travels around the globe – passing through Tokyo and Singapore on the way to London, before concluding on Friday evening in New York.
Forex trades, unlike other financial markets, can be profitable in both bearish and bullish market conditions. That’s because, in forex, you can either ‘buy’ or’sell’ an exchange rate depending on which direction you believe it will go. As a result, you have two ways to profit from it (rather than one), which increases your ROI potential. However, don’t just take our word for it.