You've most likely heard of the term forex but assumably have no idea what the fuss is. Continue reading to find out what is forex and what you need to have an understanding of the basics. Forex is also known as FX or foreign exchange and is a network of sellers and buyers who trade single currencies for others at a price that's agreed upon. Earning a profit is the primary purpose of currency trading. Foreign exchange trading takes place on the foreign exchange market, otherwise known as the forex market. You will probably have been making a forex transaction if you have travelled outside the country.
When the quantity of currency gets converted every day, volatility exists, which affects price movement. The volatility appeals to traders, as with risk increases, they can get high profits.