Introduction to Forex

Do you know Forex? If the answer is 'No' then you should go through this article to get a concise idea about Forex. Forex trading can help you to earn lot of money. “Forex” is the short form of Forex Exchange. Sometimes, it is also referred as “Spot FX” market; it has become a full time job for many people. Forex market is measured one of the biggest markets in the whole world.If you are a Forex trader, you will buy and sell world currencies, thus earning profit from the difference, between the exchange rates. Forex trading can definitely yield high profits. Anyone can do Forex trading via Forex brokers. Forex market mainly consists of currency traders that consider on fluctuations in exchange rates. Currency traders take advantage of even the least fluctuation in exchange rates.Currencies are always traded with one another. Each and every pair of currencies represent a product and is noted XXX/YYY. Here YYY is a currency that is always expressed in XXX currency. In addition, XXX and YYY are 3-letter international codes of the respective currencies. For instance, EUR/USD means euro expressed in US dollar, as 1 Euro= 1.2045 dollar. Exchange rate fluctuations are caused by monetary flows and anticipations on global economic conditions. This market operates 24 hrs a day and 7 days a week between the brokers with banks, individuals with Forex brokers.