Forex
What is FOREX?
Forex means Foreign Exchange.
What is Forex Trading?
Forex Trading is buying and selling of Foreign Currencies with the objective of making profit while stock trading involves the buying and selling of stock of company shares with the intention of making profit.
For example, if you buy the shares of company XYZ at N10 per share and the share appreciates to N15 and you sell it, you will make N5 of each share bought with the company shares exchange rate. Same vein, if you buy USD$ at N120 and $ appreciates to N125, and you sell, you will make N5 of each $ you bought, but unlike stocks, interest exchange rate can appreciate within 1 minute of purchase.
It is this frequent change in currencies that Forex Trading take advantage of to make appreciable profit on daily basis. It is possible to make between $500 to $700 each day, or even more depending on the capital you trade with, which currencies are Trades in Forex Market.
About 8 major currencies are traded by......
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