Forex stands for foreign exchange market or foreign currency market and it is the largest financial market in the world. In short, Forex is a worldwide market for buying and selling currencies. Traders on the Forex include banks, financial institutions, governments, currency speculators and corporations.
The main difference between Forex and other financial markets such as the stock exchange is that Forex is so large, it is impossible for any one institution, corporation or even country to control it. Not only can no one control it, no one can determine its long term direction.
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For many people, Forex trading is a profitable way to make money. Assuming a person has sufficient funds to enter this financial market, the first port of call is to find suitable forex trading platforms.
There are many forex trading platforms to choose from. For the sake of beginners, we first explain what a forex trading platform is.
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Forex trading takes place on the foreign exchange market, the largest financial market in the world. It is a trading platform dedicated to the buying and selling of foreign currencies. Those engaged in Forex trading include banks, financial institutions, governments, currency speculators and corporations.
The difference between Forex trading on the foreign exchange market and other financial markets besides its huge size is that it has no physical location and takes place 24 hours a day, excepting weekends, right across the globe.
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