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What is Forex?
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. It has no central physical location, yet the forex market is the largest, most liquid market in the world by trading volume, with trillions of dollars changing hands every day. Most of the trading is done through banks, brokers, and financial institutions.
The forex market is open 24 hours a day, five days a week, except for holidays. The forex market is open on many holidays on which stock markets are closed, though the trading volume may be lower.
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The Advantage and Disadvantage in Forex Trading
In forex, using the potential of leverage is a technique that enables traders to control a large number of capital by putting down a much smaller amount, it can help us to achieve a significant profit in case of making a successful trade. The Forex brokers give the investors the option of leverage. The leverage can also start from twice the initial capital and increase to a thousand times of its capital.
How do I start working in this business?
To start, you need to open a trading account with an authorized broker. Mostly, the registration process requires providing two types of documents. First is an identification document such as your Government ID card or passport and Second is proof of address which can include Bank statement, utility Bill and so on. The broker reviews and confirms the provided document and after the registry, a verified trading account is created. Then you can install the platform which has been provided by the broker and funds your account and starts trading. For more information on how to signup, please watch this video .