Most people I know have heard of the U.S. Stock Market. They have watched movies about it, read about it, maybe looked at their confusing 401k statement, or even bought a stock or two. However, few know what the Forex market is. I didn’t know anything about it until recently and I’ve go to tell you, it is pretty fascinating. If you like making money then you’ll probably find it fascinating too. If you do not like money then we have bigger problems to deal with.
Forex, or FX for short, is the “foreign exchange market”. It is the biggest financial market in the world trading at over five trillion dollars per day. Yes, I said “TRILLION per day”. But what is Forex?
Forex is the trading of foreign currencies. The concept comes from when you travel and have to exchange your money, like if you went to Europe from the United States you would trade in your Dollars for Euros. You can actually buy or sell these currencies betting on the price moving up or down. Whether a currency rises or falls is dependent on events happening in that countries current economy. Pretty cool! An example would be when Great Britain left the European Union recently; things like that cause currency ratios and prices to change and people make money in the Forex market.
This is one of the most exciting and fast-paced markets there are. It moves very quickly and is all over the globe. This market used to be traded solely by large financial institutions, corporations, hedge funds, central banks, and extremely wealthy individuals up until the Internet changed the game. Now anyone with a smart phone can trade in Forex.
Here are some of the perks of the Forex Market:
*Get started without a lot of money
*Trade currencies all over the world
*Low transaction costs to trade
*Can trade 24 hours a day, 5.5 days a week
*Convert assets to cash with high liquidity
Forex is an exciting and new way for many to move into the investor category. I believe it also gives average people an avenue to make their money work for them. Like other types of investing it is volatile and you can lose. Be careful and make sure to learn how to do it properly before messing up too bad. Like anything in life there is a learning curve. It will take time to understand the systems and how to trade properly.
I have found some amazing programs out there if this is something you may be interested in. To learn more about Forex contact me and I will take you further down the rabbit hole of making money trading the world’s currencies.