what is forex
The foreign exchange market (also known as Forex or FX) exists wherever one currency is traded for another, and where money is sold and bought freely. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex market currently is over US$ 3 trillion, making it the biggest liquid financial market. Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt, London, New York, Tokyo, Hong Kong, etc.) there are brokers / dealers who will quote currencies.
Trading is arguably the most lucrative business a person can enter into. With a decent education, and strict money management, it is possible to make money beyond your wildest dreams. The types of returns in Forex are unlike anything else. However the risks can be large which is why it's imperative that a person gains a solid understanding of how to trade. Without a decent education, it's not too dissimilar to gambling.
The best way to get an idea of the practical nature of Forex is to trade currencies with virtual money, in a demo account. Many online brokers offer FX platforms for you to download and start trading 24 hours a day, 5 days a week.
You may download a Forex Demo Terminal Platform right now. The most popular platform is Meta Trader 4. MT4 is easy to use, powerful, and absolutely free. Click here to download MT4.