Forex for beginners / Fibo Group

Fibo Group Forex Broker

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Video lessons for beginners in forex from Fibo Group Online Forex Academy

Forex is the largest financial market in the world. And it is a kind of platform where buyers and sellers interact, where individuals and legal entities change one currency for another. Trillions of dollars worth of transactions are carried out daily in the Forex market. And unlike the stock market or commodity, there is no Central exchange.

Currencies are traded through a global network of dealers, banks and brokers and that means you can trade any day, any time of day or night from Monday to Friday.

So how does it work?
Forex prices are quoted in pairs, because in fact, you simultaneously buy one currency and sell another. Take the Euro / dollar pair as an example
On the left side is the Euro, known as the base currency.
The right side is the Dollar or the quoted currency.
Now if the price is for example 1.3850, it means that one Euro is currently worth one us dollar 38 and a half cents.

In reality, when trading Forex, you always see two prices, buying and selling. The difference between these prices is called "spread".
You buy this pair if you think that the base currency will strengthen against the dollar, that is, take a long position.
Alternatively you could sell this pair if you think the Euro will weaken, in other words you can take a short position.

Forex prices are influenced by a number of different factors, such as interest rates, inflation, government policy, employment rates, import and export demand.

Due to the large number of traders and the huge amounts that are exchanged in this market, price movements can occur very quickly, making Forex not only the largest financial the market in the world, but also one of the most volatile.
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