FAQ in Forex trading
1. What does Forex mean?
(Foreign Exchange Market) Forex is the market in which currencies are traded. The Forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world.
2. Do I need to have a fortune to start trading on Forex?
The Forex Market is one of the few places in the world where you can start trading with 50 USD; this is an indicator that the Forex Market enables traders to make fast income. Because life costs are on a rapid increase, average individuals seek trading to make extra income with low investment. No, you don’t need to own a fortune to start trading at the Forex market.
3. What are the primary currency pairs in the Forex system?
Primary currency pairs in the Forex system are: EURUSD, USDCAD, GBPUSD, USDJPY, USDCHF.
4. Are there any cons or negatives when working with big traders?
Yes indeed. ([lease note that I haven’t found any info about this on Google, can you provide me with a recourse?)
5. Is working in Forex considered a high risk business?
There are several ways for trading Forex market, one of these ways is the Hit and Run method, another method is trading depending on Fundamental Analysis. These ways are risky.