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What is Forex?

April 1, 2020
10
min read

Forex is short for foreign exchange. It is the process of exchanging one currency into another currency.  

Forex Trading

About $5.3 trillion dollars is traded everyday in the forex market.

Currencies are traded worldwide for a variety of reasons. This makes the forex market the largest and most liquid market in the world. The forex market is open 5 days a week, 24 hours a day. Us here at Visionaries trade in the spot market, meaning we buy and sell currencies at their current price. Whether it’s a market, limit, or stop order. The forex market is accessible to trade in as long as you’re 18 years old or older. To start trading in the forex market you will need a broker account. When choosing a broker, do your research and use your own discretion. Visionaries does NOT promote the use of one broker over another. Once your broker account is created, it will be linked to a trading software/platform. Again, use your own discretion when choosing a software. Once those accounts are linked, you can now start trading. If your software allows, create a “demo” account or “paper money” account that allows you to practice the different strategies you are learning without risking your own money. As your confidence increases and you feel ready to begin trading your own money, switch over to a live account.

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