what is forex,how forex, What is Forex Trading and How Does It Work,what is fx,how forex works,start forex, start tradingYou may have heard the word "Forex" (or "FX"). It is an abbreviation for "foreign exchange,’ which involves the trading of one currency for another. That is,the selling of one currency and the buying of another.
Naturally, to buy any item, you have to pay for it in a currency. However, things can start to get complicated when what you want to buy is not an item but another currency. For instance, assuming as an Indian who wants to embark on a business trip to Manc hester, UK. So, you own the Rupee (Rs), which you can't get to spend in the UK.
Hence, you have to get the British Pound (GBP), making use of your Rupee (Rs). The forex market is the financial market where you can do this.
The forex market is the avenue where the exchange of currencies occurs. Unlike other financial markets, there is no single location for this market as it is mostly decentralised and mostly transparent. That is, there is no central exchange for forex trading.what is forex,how forex, What is Forex Trading and How Does It Work,what is fx,how forex works,start forex, start trading