What is Forex Trading?
Forex Trading or Foreign Exchange Trading is also known as FX Trading. In simple term, Forex Trading is the exchange of one country’s currency for another country’s currency at the settled exchange price. Today, Forex is the world’s largest traded market. According to an estimate, an average turnover of FX market is approximately US$5.3 trillion daily. This large amount of liquidity and the fact that it trades 24hrs a day for 5 days a week makes it ideal for small traders that want to learn about day trading and only have limited time to trade.
Basic Terms used in Forex/Currencies Trading Market
A currency pair - this is what you trade on the market, for example EUR/USD: the first currency here is called the "base currency", and the second currency is called the "quote currency". The currency pair shows how much of the quote currency is needed to purchase one unit of the base currency.
Pip - is a very small measure of change in a currency pair in the forex market. A pip is a standardized unit and is the smallest amount by which a currency quote can change
Asking Price- It is the price on which anyone can purchases a currency. Also, at this price, somebody on the forex market sells the currency
Bid Price- This is the price at which anyone is willing to buy a currency
Spread Price – It is the difference between bid price and asking price. Generally we prefer a small spread since we often need to pay the spread when we enter the trade.
Day Trading- It is a form of FX trading in which individuals purchases or sells currencies online in a single day.
Online Forex Trading with The Trader Institute
You can easily learn to trade online forex with The Trader Institute. For successful online forex trading, you should have proper knowledge of foreign exchange, leverage, volatility, and political and financial condition of the country whose currency you are going to trade.
Forex Trading Education and Training by The Trader Institute
The Trading Institute not only provides one of the best trading rooms to trade forex but also provides excellent forex trading education and training. After getting Fx trading education you will be aware that how to trade forex successfully. Call us today or send a mail to us at email@example.com so that we can guide how to get free forex trading education and training. The Institute also provides Free Trials where you see for yourself what all the hype is about in 4 hours of pure live trading. It is critical to see if FX trading is right for you and having the free trials is something that you should absolutely ask for before committing to an educational and trading program.
When to start Forex Trading?
After understanding the functionality of forex trading market and online forex trading platform properly, you can start online forex trading. So, if you have decided to enter in the world’s largest trading market, then start with Free Trial with us and after this start the actual forex trading…Our advanced forex trade signals will help you to take the right trading decision.
Good Luck and Happy Trading!