Chapter 3 WHAT IS FOREX?
Forex trading is short form for "foreign exchange "trading or simply we call it money exchange.it alsobeen call as spot market.
Example:
You go to money changer, with current price 2 SGD for 1 USD, you exchange 400 SGD to get 200USD. when the value of USD currency increase from 1 USD equal to 3 SGD u already gain 100 SGD
All transaction buyer and seller are doing online using the platform that already build in the market.
DIFFRENT BETWEEN FOREX AND STOCKS
STOCKS
FOREX
Buy and sell stocks
Buy and sell currency
Have thousands of company stocks inmarket
There are 6 main currencies in this world
Buyer and seller have limit
Doesn't have limit
There are some stocks are hard to buy or
Easy for us to buy or sell
sell
Can trade while office hours only
Can trade 24 hours on weekdays
