Just as the trading of shares or commodities takes place in the stock market or commodity market, in the same way 'Forex market or foreign currency exchange market involves the trading of currencies of many countries. It is also called FX market.
You can
also do forex trading
Through the
internet, you can do forex trading from home. But first you have to open a
trading account with a forex broker. In the forex market, one currency is
exchanged with another currency. The most important thing in trading is the
exchange rate. This means that what will be the rate of exchanging one currency
with another.
Open FX trading account free click here
You must
have generally seen that the price of rupee is much higher than that of the
dollar or how much the value of the dollar is equal to that of the euro. For
example, if a dollar costs 70 rupees, then for one dollar you have to pay 70
rupees.
Suppose you
decide to take 1,000 euros instead of dollars. At the time when you bought the
euro, the exchange rate of the dollar / euro was 1.5, that is, you had to pay $
1,500 to buy 1,000 euros. After some time, there was a slight change in the
exchange rate and it increased to 1.55. Now when you sell 1,000 Euros, you will
get $ 1,550. In this way you gained a total of 50 dollars.
Similarly,
if the exchange rate was 1.35 at the time of selling the euro, you would get $
1,350 instead of the same 1000 euros, which means you lost $ 100. In the same
way, you can also sell and sell other currencies.
0 Comments