The Forex or Foreign Exchange market deals with the trading of currencies. You can trade
currencies 24 hours a day, 5 days a week. If you are in the United States, Forex trading opens Sunday afternoon or evening (depending
on where you are located) and closes on Friday afternoon or morning (depending on where you are located.) The more popular
currencies traded are the United States Dollar, Japanese Yen, Euro, Canadian Dollar, British Pound, Australian Dollar and
the Swiss Franc. There are approximately 30 different currency pairs that can be traded in the Forex market.
Many brokers will allow you to open an account with a starting balance as low as $250.00. When choosing a Forex broker, it is
highly recommended you pick one that will allow you to open a demo account. This will let you place trades without risking your
own funds. As with any other investment vehicle, understand your risk tolerance prior to investing in the Forex market. Forex
investing is considered Over-the-Counter since there is no central location where trades are placed.
All currencies traded are given a standard identifying code that is used worldwide, for example EUR (European Euros), GBP (United
Kingdom Pounds), AUD (Australian Dollars), USD (United States Dollars). Your Forex broker will have a complete listing of all the
standard currency codes.
The Forex market fluctuates according to world events, so you will want to keep up with the latest
economic and political news.
deals with the trading of currencies. You can trade
currencies 24 hours a day, 5 days a week. If you are in the United States, Forex trading opens Sunday afternoon or evening (depending
on where you are located) and closes on Friday afternoon or morning (depending on where you are located.) The more popular
currencies traded are the United States Dollar, Japanese Yen, Euro, Canadian Dollar, British Pound, Australian Dollar and
the Swiss Franc. There are approximately 30 different currency pairs that can be traded in the Forex market.