Forex Foreign Currency Exchange Market

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By mjesales


Forex is the short hand term to describe the Foreign Currency Exchange Market.

This market trades over 1.5 trillion dollars per day ($1,500,000,000,000). Traders often use leverage of up to 400:1 (for every $250 you have $100,000 to trade with). It is because of leverages up to 400:1 that the market can have over 1.5 trillion dollars change hands every day.

The forex market runs 24 hours a day starting sunday at about 4pm EST and ending friday at about 4pm EST. This allows traders from all over the world to participate in the same market. Most trades do occur during the east coast morning hours as this is when banks in America wake up and when banks in Europe are ending their day.

In order to trade on the forex market you will need an account with a forex broker. There are a LOT of forex brokers and each one offers their own platform or trading software that you use to interact with the market and make trades. Your trades are lumped together with other trades and actually bought / sold by the brokerage house.

Forex Brokers

There are many others out there for you to pick from depending on how and what features you are looking for in a brokerage house. Most forex brokers will allow you to open a "demo account" or "fake money account". These accounts allow you to get the hang of the software before trading with live money. I suggest you give one a try before jumping into something.

I have used a few different brokers in the past - without any order they are:

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Forex Products

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Forex on Google News

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Recent Forex Articles

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forex in the News

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