What is "FOREX" ? As in, Forex trading ?

Question

something or other? What is Forex basically ?

Answer 1

Forex is short for foreign exchange which is trading in currency.  You buy and sell one country's currency for another with the idea that as the currencies go up and down in value to one another you can turn a profit much like a stock.  It's traded like an "over-the-counter" stock.  

If you do a search of Forex trading you'll find all sorts of info.  Here's a link to one page that describes it in basic terms:  

http://www.forex.com/forex_101.html

Alot of the trading websites like forex.com allow you to have dummy acounts to try before you have to inverst real money.  Personally, I've never tried any of them but many people trade in currency but just like trading in stocks you want to do your homework and take a close look at the fees associated with trading.

Answer 2

Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.

Here is a free site that shows what has happened after economic news releases:

http://www.forexnewspatterns.com

Answer 3

Basically forex is trading between different currencies from all over the world. I don't know how to simplify it anymore ;)

Answer 4

FOReign EXchange (good, eh?)

Basically the exchange of different currencies such as selling GBP against US$

So you sell GBP and buy US$ For every £1 you get roughly US$1.975 (called the Exchange Rate). Of course there is a slightly different rate for buying and selling, same as stocks and shares.

Answer 5

Hi,

Check this out, it has all the intro you need about forex:

http://where-to-invest.blogspot.com/sear...

Answer 6

1. "The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is almost US$ 4 trillion."

http://en.wikipedia.org/wiki/Foreign_exc...

2. "FOREX.com is a division of GAIN Capital Group, a dedicated partner to professional FX traders and fund managers worldwide. Institutional services include  IB programs, white label solutions, and asset management. Individual forex traders can take advantage of the market expertise and financial strength of GAIN Capital Group and access an institutional FX trading platform, FOREXTrader, along with our powerful real-time forex charts, professional forex market research, and suite of advanced forex trading tools. For traders new to the currency trading, FOREX.com offers forex training programs, forex minis, and information about trading the foreign currency market."

http://www.forex.com/

(a private for profit company)

3. A place where amature investors go to lose money quickly.