Friday, 26 August 2011

What is Forex ?

"Forex" stands for foreign exchange; it is also referred to as FX. during a forex trade, you get one currency while simultaneously selling another - that's, you're exchanging the sold currency for the one you're shopping for. The foreign exchange market is an over-the-counter market.

Currencies trade in pairs, just like the Euro-US dollar (EUR/USD) or US dollar / Japanese Yen (USD/JPY). in contrast to stocks or futures, there is not any centralized exchange for forex. All transactions happen via phone or electronic network.

1 comment:

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