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What Is Forex Trading?
Forex trading, also known as FX trading is the conversion of one currency into another. The market itself, is one of the most actively traded markets in the world.
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The vast majority of currency conversion is undertaken by forex traders with the aim to make a profit. Now due to the sheer amount of currency converted each and everyday it can make price movements of some currencies extremely volatile. It is this volatility that can make trading FX so attractive and lucrative to forex traders, as it can produce a greater chance of high profits, while also increasing the level of risk.
What Is Forex? SIMPLIFIED
Benefits Of Forex Trading
The Foreign Exchange (Forex) is the marketplace for trading all the world's currencies and is the largest financial market in the world. There are many benefits of trading forex, which include convenient market hours, high liquidity and the ability to trade on margin. Learn more about some of the biggest advantages of forex trading below.
Trading Times
You can trade forex 24 hours a day, 5 days a week. This means you can trade whenever is best for you and take advantage of different active sessions.
High Volatility
Forex trading is synonymous with high volatility which creates lots of opportunities for profit. You can speculate on short term price movements as well as long term trends.
Tax Benefits
CFD trading on forex can offer significant tax benefits as you don't take ownership of the underlying currencies.
