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Forex time and how does it work?


What is forex trading?

Forex or foreign exchange can be defined as a network of buyers and sellers who transfer currencies among themselves at an agreed rate. This is the means by which individuals, companies and central banks convert one currency into another - if you have ever traveled abroad, you have probably made a forex transaction.

While a lot of foreign currency is converted for business purposes, the vast majority of currency conversions are done for profit. The amount of currencies that are converted daily can lead to significant volatility in the price movement of some currencies. This volatility is what makes the forex market attractive to traders: it brings great opportunities for great profits, and also involves increased risk.