Sun. Jul 25th, 2021

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

What Is Traded In Forex?

1 min read

Foreign exchange (also referred to as forex or FX) refers to the worldwide , OTC market (OTC) where traders, investors, institutions and banks, exchange, speculate on, buy and sell world currencies.

Trading is conducted over the interbank market, a web channel through which currencies are traded 24 hours each day , five days every week . Forex is one among the most important financial markets, with an estimated global daily turnover of quite US$5 trillion.

The price of the currency is typically an immediate reflection of the market’s opinion on the present and future health of its respective economy.

The rate of exchange of a currency versus other currencies may be a reflection of the condition of that country’s economy, compared to other countries’ economies.

While there are potentially lots of currencies you can trade, as a new forex trader, you will probably start trading with the major currencies.

They are called “major currencies” because they’re the most heavily traded currencies and represent some of the world’s largest economies. They label AUD, NZD, and CAD as commodity currencies.

Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency, usually the first letter of the currency’s name.

These three letters are referred to as ISO 4217 Currency Codes.

By 1973, the International Organization for Standardization (ISO) established the three-letter codes for currencies that we use today.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.