What is forex and how does it work? Forex, also known as foreign exchange or FX trading, is the conversion of one currency into another. It is one of the most activelytraded markets in the world, with an average dailytrading volume of $5 trillion.
Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. ... While this could be interpreted to mean that about one in three traders does not lose money trading currencies, that's not the same asgetting rich trading forex.
1) What exactly is forex?
Ans: Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion.
2) What is a lot in Forex?
Ans: A standard lot is the equivalent of 100,000 units of the base currency in a forex trade. A standard lot is similar to trade size. It is one of the three commonly known lotsizes; the other two are mini-lot and micro-lot.
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