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What is forex trading?
Apart from affiliate programs and affiliate marketing, many people active in money-making online heard about the word Forex. What do this word mean and how do it help you? Sure it is related to making money online or you may never heard it in the first place. Many new people are curious what do the word Forex is about. Now We will share some of the definition that comes from many source.
What forex means and how can it make money?
The word 'Forex' delivers from 'Foriegn Exchange' which have meaning in financial way as 'Currency trading between different money currency'. For example, one may trade USD to EURO in 0.95 EURO per USD, So 100 USD will convert into 95 EURO Those who want to do Foriegn Exchange must get into 'Forex Market' directly or with a broker(online or offline).
How do this make money? Like gold and silver trading, Currency value constantly go up and down. One will gain profit from buying and selling at the right time. For example, suppose that one day USD to EURO is 0.959 so one can pay 1000 USD and get 959 EURO. Then the next day USD to EURO is going at 0.951 which means 1.051 EURO per USD one may trade back 959 EURO into 1008.41 USD. Gaining profit of 8 USD. This may not look like big money but it multiply with the volume one choose to trade and most online broker today offer a service of leveraging (multiply trading volume using broker's potential).
Any tips to get more money in Forex?
There are some tips for get more starting money for Forex, as the more money mean more profit, but you don't want to invest much money yourself. There are tips to double money in forex trading which can be see how at How to get more money in forex broker..
See also
- List of Specific review available