What is the Forex ?

Forex Definition

Forex is an abbreviation for "foreign exchange market"

The meaning is clearer to Forex that "the exchange of currencies outside the stock markets," This is because Forex does not have a financial center.

Traders are known to exchange between the currencies in inches times the work of the World.
Many of the junior asking the traded in what exactly?

What we sell and what we buy in forex?

Forex means that the exchange of foreign currencies, "Imagine yourself that you are the Office of Exchange," You may be the seller or the buyer according to what you want in exchange and this must be aware that Forex trading will be in the form of an exchange between a couple "of any currency pair to buy one and sell the other," If you the buyer, "or sell one and buy the other" If you are the seller you are "...

Please read the previous paragraph again,

Do you read? Well .. To complete the ..

Now, the question is What currencies can I trade in?

Answer ... Any currency of any country, you can trade, but that depends on the company by the mediation of the deal by which enter you to the Forex market ...

in the below table the symbols of the currencies of the country's famous and Sttajer by:

You'll notice that the symbols of foreign exchange always 3 characters, letters, where the first distinction to the name of the country, and the third letter distinguishes the name of the currency of that country.

Currencies generally classified into several types ..

1 - the major currencies and the 7

2 - simple currency

The seven major currencies

Very often being traded, namely:
USD, EUR, JPY, GBP, CHF, CAD, and AUD

Simple exchange

In fact, it only for professional, but we will cover in our current so-called Fab five, they
(USD, EUR, JPY, GBP, CHF) of these couples, a more liquid, in fact, the only currency to be traded.

Cross Currency
Is any currency pair there is no currency in which the U.S. dollar is more expensive to pay Alsebred ..
For example, EUR / JPY, GBP / EUR, and GBP / JPY.

Advice for any junior in the Forex currency market

Does not recommend the exchange of currencies in which there is no dollar

We advise you to start trading currency pairs following EUR / GBP -EUR/USD -GBP/USD only

So as not to face great risks with the other currency pairs needed to train and practice for longer time

We find that the USD is the U.S. dollar most traded currency, where 89% of all transactions in addition to the euro is the second in a 37% and while the Japanese yen, representing 20% of the total demand for the purchase of foreign currency ..

OTC foreign exchange market

Also known as exchange OTC market to a large extent that the financial market the largest and most popular in the world, traded a large number of individuals and the rules governing the purchase and sale of currencies and this, we find that the profits from trading Forex than trading in other markets such as gold and silver market, and oil shares and bonds and cash crops and energy