Chapter 1 WHAT IS FOREX?
• Forex (Foreign Exchange) is a foreign currency exchange by 4500 banks around the world. It is also called spot market. There is no headquarters (HQ) or one specific location to do currency exchange transactions. All buying and selling transactions and currency exchange are done online through the Internet.
• Daily transactions involve 1.5 trillion US Dollars. Forex has been open to small investors since 1995. Small investors can deal in forex through 2 types of accounts, namely regular and mini with the use of leverage.
• You can open an account through a broker. Each broker has its own platform. The platform is the software that you will use to do the trading process. Examples of brokers are like OCTAFOREX, FXCM, InterbankFX, FX Pro, FX Primus, XM, dan InstaForex.
Basic Things For Forex Trading Unlike other businesses where you need to spend a lot of capital such as to rent a shop building, buy products, pay employee wages, utility bills and so on, Forex business only needs a few basic things that you probably already have right now . So that's a bonus you only need to withdraw fund to sell/buy only.
