Forex – in its general sense – is the currency exchange market, in which the change in the exchange rate between one currency and its counterpart is taken advantage of. Forex allows trading using leverage, i.e. depositing a small amount of money and then trading on credit. Although forex means the exchange of foreign currencies, trading is not limited to it and includes dozens of other assets, such as gold, oil and commodities.
How is forex trading?
Trading in the forex market is very easy. The first thing you need to do is select a secure brokerage firm and create an account. After depositing the security you selected for the investment with the broker company, you can start trading directly and perform these various operations using a computer, tablet or any mobile device connected to the Internet. And you can make all transactions in the forex stock market.
Is forex safe?
The reliability of trading in the forex market is becoming more questionable, especially after the crash in the cryptocurrency market. The problem in the crypto market is due to the intermediary institution. And the need for an intermediary company to conduct transactions in the forex market, has opened the door to question in this field as well.
Forex was legalized in mid-2011 and has gained reliability after this date. The audits and statements of the Capital Markets Board were an important factor in gaining investor confidence.
What are the most trusted forex sites?
Unfortunately, it is not possible to give any advice about the security of Forex sites, as all areas where technology is used have risks. Therefore, it is necessary to verify certain controls when making a decision, and to verify the company that will be dealt with.
Investing in forex
The most important way to succeed in forex investing is to have your own way. Having a written methodology is the key to success, and in the absence of the methodology there is no escape from losing.
What are the features of designing a good forex investment methodology?
Evaluate your skills. Prepare yourself mentally. Determine the level of risk. Determine your earnings. Do your homework. Be prepared to invest. Put an exit tactic. Create entry rules. You may lose your profits.
Gold Forex and Oil Forex
The forex market is not only for foreign currencies, but also many gold and oil products and its derivatives are bought, sold and traded.
