What is forex trading?

Forex trading is the buying and selling of global currencies. It’s how individuals, businesses, central banks and governments pay for goods and services in other economies. Whenever you buy a product in another currency, or exchange cash to go on holiday, you’re trading forex.

How do I learn a forex trading personality?

Discover your trading personality in minutes with just six simple questions. Then find out how you compare to other traders before you start your forex training journey. Understanding forex quotes and the structure of forex pairs. Learn the specifics of technical analysis, trends, and determining when to enter a trade.

How are forex prices determined?

Instead of trading via a central exchange such as the New York Stock Exchange or London Stock Exchange, forex prices are determined by interbank trading – the buying and selling of currencies between banks constantly, all over the world. The currency market is open 24 hours a day during market hours.

How much money does Forex trade a day?

According to the Bank for International Settlements, global forex trading in 2022 averaged over $7.5 trillion each day. To put that into context, trading on the stock market averages around $553 billion each day. Which might seem like a lot, but it is just 8% of the total volume seen in FX. What is forex trading? Who trades currencies?