Watch this quick tutorial video to learn the basics of Forex trading. Explore the Foreign Exchange Market (FX) and how to place currency-based trades. The video transcript: What is Forex? Today, we’re going to explain a little about what Forex is and how it works from a trading perspective. Forex is shorthand for “foreign exchange market.” This is a global market for buying, selling and exchanging currencies. Even though lots of large, international banks use Forex, it is actually the largest market in the world where anyone can be a trader. Sometimes, Forex can help international trade by allowing currency conversion. So, if someone in the United States needs to import something from Europe, they can pay Euros, even though their income is in US dollars. One great thing about Forex is that trading is open 24 hours a day, but it is closed on weekends. That means, you don’t have to wait for the market to open during the week, because it is always open! There’s a lot more to learn about Forex. So, if you’re interested, check out the Learning Center on Binary.com, where you can explore tons of educational resources. Or if you’d like to jump right in, sign up for a virtual account at Binary.com, where you can start learning how to trade for free. Hope you’ve enjoyed this short video on Forex from Binary.com. Sharp prices. Smart trading.
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Duration: 1m 16s
Rating: 5