In foreign exchange trading, one exchanges one currency for another currency. It is therefore a matter of making a profit through the exchange. A profit can be made if the currency bought rises against a reference currency.
Foreign exchange trading is also known as forex trading. Forex means foreign exchange. Companies, insurance companies and banks account for the largest share of sales in the foreign exchange market. They exchange their currencies, for example, to convert their foreign currency sales from products sold or purchased abroad back into their local currency. Companies also often take out insurance to protect themselves against strong currency fluctuations.
The way foreign exchange works can be defined in such a way that a price is formed by comparing two currencies with one another.
The trading hours You can trade on the foreign exchange markets 24 hours a day, 5 days a week. This has a great advantage over stock trading, as you are not dependent on stock exchange opening times. This means that many retailers can organize their time much more flexibly. You can master in forex trading with forex trading course.
It is possible to make money in both rising and falling market phases. This means that you are not so dependent on the current market situation.
One advantage is the low cost of trading forex. Even large amounts can be moved with very little fees.
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The foreign exchange market is the most liquid market in the world with $ 5 billion a day in sales. In contrast to the stock market, this is better protected against manipulation. The main advantage, however, is that, due to the high turnover, you don't have to attach so much importance to the depth of the market if you want to get your course executed.
Regardless of whether you want to start with a lever or not, you can collect your first trading experience with few moneys.
The first question to be answered is whether you want to trade with a lever or not.
A foreign currency account is suitable for those who want to protect their savings simply by holding different currencies or who want to increase their savings with less risk. This also makes it possible to benefit from fluctuations in exchange rates.
The main difference between opening an account with a broker or opening an account in a foreign currency is the ability to trade forex with leverage.
If you want to trade with a forex broker, you have the option to use leverage. This has advantages. With a lever, 30-500 times the deposited capital can be moved. For those who want to trade very often, a broker is the best choice as the exchange rate fluctuations in the forex market are relatively small and you can therefore maximize your profits.
In addition, a broker usually offers professional charting platforms with real-time prices that can be used to precisely manage positions. It should be noted that many brokers also allow you to set the leverage yourself. This also makes it possible to trade with a broker without leverage and you also get professional chart software available free of charge.