WHAT IS FOREX???
Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined.
Since the introduction of exchange traded Forex futures contract in 1972 at the Chicago Mercantile Exchange, the ever increasing transaction volume and participation has established the popularity of Forex in the world. That’s why it is a perfect market to invest in, as it is free from any external control and free competition. The main thing in the FOREX is that dollar competes with four main currencies: British pound sterling, Japanese yen, Swiss franc and Euro. It is a type of trading that goes on around the world and for that reason the trading of different currency pairs goes on constantly.
Currency trading involves substantial risk of loss, and may not be suitable for everyone. Before deciding to undertake such transactions, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions.