Tuesday, October 13, 2009
What is Forex???
Most aspiring traders may have heard about forex trading. For those that are unfamiliar with this market, here is a simple definition of what Forex is. Forex basically refers to the Foreign Exchange market. Veterans in this market have givin’ the market several names over time, some include “FX”, “Spot FX” or “Retail Forex”. Whatever you want to call it, you should know that it is the biggest financial market in the entire world. With volume trades nearing $5 trillion dollars a day. Compared to other popular American markets such as the NYSE (New York Stock Exchange) this equates to nearly 40x larger. Its no surprise that Forex trading has huge a following of aspiring traders!