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Things you need to know about foreign exchange and the fundamentals for beginners.

What is Forex?


Understanding the forex market
What is forex?


Forex is short for foreign exchange; which means exchanging one currency for another for a variety of reasons, usually trading, commerce or tourism. Currency values are always changing, which means 1 US dollar today may not get you as much in your local currency as it did yesterday, or even will tomorrow. This is where changing exchange rates can lead to profit or loss.

Let’s take a look at an example to better understand how forex traders make profit from the fluctuations in currency exchange rates:

Assume a person goes to a currency exchange to convert USD 100 000 to euros. If the rate of exchange (USD/EUR) at that time is 0.84000, they now have EUR 84 000. After a few days, the rate of exchange has dropped to 0.80000. On exchanging the euros to US dollars, they now receive USD 105 000.

Thus, this person has made a profit of USD 5000 from this transaction.

Forex traders study the economic and political conditions and predict the trend in which the market is going to go and based on that, they either buy or sell a currency which they later sell or buy back respectively. In the aforementioned example, the person making the exchange knew that the rate of exchange was going to decrease. Thus, he sold his dollars only to buy them back at a later point when the exchange rate had fallen. This is how he made a profit.

This is forex trading.

In Exness we offer CFDs (Contract for Difference), which means that clients can bid on the difference in price of any currency/instrument available in the market. With the use of leverage, clients can trade in big amounts without actually being in physical possession of the said currencies.

Understanding the forex market
The market where foreign exchange transactions are carried out is known as the forex market. It is an international market where transactions are carried out electronically over-the-counter (OTC) via computer networks between traders around the world, rather than on one centralized exchange.

Features of the forex market
The forex market has a daily trading volume in excess of USD 5 trillion. No commodity market, futures market or stock exchange equals forex at present.
Forex trading occurs round the clock, Monday through Friday. The forex market makes it possible for a currency to be bought and sold by various market-maker banks, brokerage companies (such as Exness), independent brokers, investors, and traders.
Quotes (or prices) are in perpetual motion and react to many trading, economic and other indicators, interest rates, bank operations, the time of day and the preferences and expectations of traders.
Client transactions are executed over easy-to-use trading platforms such as MetaTrader 4 or MetaTrader 5. With the help of such platforms, every trader can receive quotes in real-time mode from market participants, such as banks and market makers.
Exness is a multi-asset broker that offers high quality trading services to clients all over the world. It provides a convenient platform for carrying out these transactions and also offers a very low spread which is always a win for the forex trader.
[1/29, 11:04 PM] Isaac Victor O: What are fundamental trading terms I should understand?
[1/29, 11:04 PM] Isaac Victor O: A more positive trading experience begins with understanding the fundamentals of trading forex and other instruments. Learn more about some key trading terms below, including:

Currency pair, cross pairs, base currency, and quote currency
Bid price and ask price
Spread
Lot and contract size
Pip, point, pip size, and pip value
Margin and leverage
Balance, equity, and free margin
Profit and loss
Margin level, margin call and stop out
Pending and market orders
Risk management
Currency pair, cross pairs, base currency, and quote currency
Currency pairs are the currencies of two countries combined together for the purpose of trading in the foreign exchange marketplace. Some examples of currency pairs include EURUSD, GBPJPY, NZDCAD, etc.

A currency pair that does not contain USD is known as a cross pair.
The first currency of a currency pair is called the “base currency”, and the second currency is called the “quote currency”

What are fundamental trading terms I should understand?

A more positive trading experience begins with understanding the fundamentals of trading forex and other instruments. Learn more about some key trading terms below, including:

Currency pair, cross pairs, base currency, and quote currency
Bid price and ask price
Spread
Lot and contract size
Pip, point, pip size, and pip value
Margin and leverage
Balance, equity, and free margin
Profit and loss
Margin level, margin call and stop out
Pending and market orders
Risk management
Currency pair, cross pairs, base currency, and quote currency
Currency pairs are the currencies of two countries combined together for the purpose of trading in the foreign exchange marketplace. Some examples of currency pairs include EURUSD, GBPJPY, NZDCAD, etc.

A currency pair that does not contain USD is known as a cross pair.
The first currency of a currency pair is called the “base currency”, and the second currency is called the “quote currency”

๐–๐‡๐˜ ๐˜๐Ž๐” ๐๐„๐„๐ƒ ๐“๐Ž ๐“๐‡๐ˆ๐๐Š ๐ƒ๐ˆ๐…๐…๐„๐‘๐„๐๐“๐‹๐˜ ๐“๐Ž ๐๐„๐‚๐Ž๐Œ๐„ ๐€ ๐๐ˆ๐‹๐‹๐ˆ๐Ž๐๐€๐ˆ๐‘๐„

                   ๐Œ๐จ๐ง๐ž๐ฒ
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐ฅ๐จ๐จ๐ค ๐Ÿ๐จ๐ซ ๐ฐ๐š๐ฒ๐ฌ ๐ญ๐จ ๐ฌ๐ฉ๐ž๐ง๐ ๐ฆ๐จ๐ง๐ž๐ฒ. ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐š๐ข๐ซ๐ž๐ฌ ๐ฅ๐จ๐จ๐ค ๐Ÿ๐จ๐ซ ๐ฐ๐š๐ฒ๐ฌ ๐ญ๐จ ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ ๐ฆ๐จ๐ง๐ž๐ฒ.

                   ๐‰๐Ž๐๐’
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐ญ๐ก๐ข๐ง๐ค ๐š ๐›๐ž๐ญ๐ญ๐ž๐ซ ๐ฃ๐จ๐› ๐ฐ๐ข๐ฅ๐ฅ ๐ฆ๐š๐ค๐ž ๐ญ๐ก๐ž๐ฆ ๐ฐ๐ž๐š๐ฅ๐ญ๐ก๐ฒ. ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐š๐ข๐ซ๐ž๐ฌ ๐ค๐ง๐จ๐ฐ ๐ญ๐ก๐š๐ญ ๐š ๐ฃ๐จ๐› ๐ฐ๐ข๐ฅ๐ฅ ๐ง๐ž๐ฏ๐ž๐ซ ๐ฆ๐š๐ค๐ž ๐ญ๐ก๐ž๐ฆ ๐ฐ๐ž๐š๐ฅ๐ญ๐ก๐ฒ, ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ๐ฆ๐ž๐ง๐ญ ๐ฐ๐ข๐ฅ๐ฅ.

                    ๐‘๐ˆ๐’๐Š
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐ฌ๐ญ๐š๐ฒ ๐š๐ฐ๐š๐ฒ ๐Ÿ๐ซ๐จ๐ฆ ๐ซ๐ข๐ฌ๐ค๐ฌ ๐›๐ž๐œ๐š๐ฎ๐ฌ๐ž ๐ญ๐ก๐ž๐ฒ ๐ฆ๐ข๐ ๐ก๐ญ ๐Ÿ๐š๐ข๐ฅ. ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐š๐ข๐ซ๐ž๐ฌ ๐ค๐ง๐จ๐ฐ ๐ข๐Ÿ ๐ญ๐ก๐ž๐ฒ ๐๐จ๐ง’๐ญ ๐ญ๐š๐ค๐ž ๐ซ๐ข๐ฌ๐ค๐ฌ, ๐ญ๐ก๐ž๐ฒ ๐ก๐š๐ฏ๐ž ๐š๐ฅ๐ซ๐ž๐š๐๐ฒ ๐Ÿ๐š๐ข๐ฅ๐ž๐.


            ๐๐‘๐Ž๐๐‹๐„๐Œ๐’
๐€๐ฏ๐ž๐ซ๐š๐ ๐ž ๐ฉ๐ž๐จ๐ฉ๐ฅ๐ž ๐ญ๐ซ๐ฒ ๐ญ๐จ ๐š๐ฏ๐จ๐ข๐ ๐ฉ๐ซ๐จ๐›๐ฅ๐ž๐ฆ๐ฌ. ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง๐š๐ข๐ซ๐ž๐ฌ ๐ฌ๐ž๐ž ๐ฉ๐ซ๐จ๐›๐ฅ๐ž๐ฆ ๐š๐ฌ ๐š๐ง ๐จ๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ

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