If you have ever travelled to a foreign country, you may have needed to exchange your money if you have already participated in Forex trading Forex is the short form of foreign exchange well Forex is a bit more than that, for instance , businesses buy goods from other countries in order to buy them they need to get the local currency first just like us when going on vacation. The difference is that when these companies exchange these enormous amounts, they will exchange huge amounts, they will actually move the price because of the demand for the currency they need increases as demand increases the price increases with all this exchange going on around the world.
This is how it works constantly when currencies are exchanged they have a certain price the exchange rate as the price of a currency is determined by the law of supply and demand in any market if there are many individuals or businesses who want to change euros into dollars the price of the dollar will rise against the euro and so the exchange rate will change let’s use it every day.
Example to explain how you can actually benefit from this saying that you live in Europe and went to the United States on holiday, let ‘s say that you changed your 500 euros into US dollars at the rate of 1 point 4 dollars for every euro you got 700 US dollars but you don’t spend any money at all so you still have 700 dollars after you return after the exchange rate shift from one point four to one point You actually get five hundred and thirty eight and a half euros instead of getting just 500 euros back, you have earned thirty eight and a half heroes simply from holding your money and dollars while the exchange rate is.
Changed this is essentially how we trade in the Forex market, while the exchange rate moves, we buy a certain amount of a currency hold on to it, then change it back to make money along the way to decide when the right time to buy CEL is exactly what we teach you throughout the rest of our learning lessons, as you can imagine travelling a lot and saving a little money on your holiday budget and the holiday budget. Fortunately, there is an easier way to do this, and then exchanging it is not really a practical approach to trading currencies. You can trade currency through online exchange offices called brokers, which means that you can exchange currencies online throughout the day and take advantage of the constantly changing exchange rates.
Just as in the example of combining different currencies when you went on holiday and making a profit as the exchange rates change, trading the Forex market trading Forex online with a broker has many advantages that you can trade Forex from your home or anywhere you have an internet connation , the Forex market never sleeps it is open 24 hours a day five days a week and can therefore fit your daily connation. You don’t need a huge budget to start as little as a hundred and fifty dollars is enough to start trading and building your account over time , of course, until you get there, it will require some learning, but this is exactly what trade MO is here for to help you learn how to trade in a way that can fit your individual lifestyle and help you navigate your way through the Forex market