Forex
At Trader’s Way, Prime Online Forex and CFD broker, we offer clients multiple instruments to trade with, along with the most competitive trading conditions in the market. As part of our ongoing edu series, here’s a recap on Forex. Forex stands for foreign exchange and involves the exchange of one currency for the other. The forex market is often where such transactions take place, with a daily turnover exceeding 4 Trillion USD.
Example: Sam lives in the US and is traveling to Europe. Sam has USD and needs to buy EUR. The current exchange rate is 1.3000 USD for 1 EUR. Sam buys 1000 EUR by selling 1300 USD (1000 x 1.3000). This is a foreign currency exchange or Forex.
For more information, please check out Trader’s Way.
At Trader’s Way, Prime Online Forex and CFD broker, we offer clients multiple instruments to trade with, along with the most competitive trading conditions in the market. As part of our ongoing edu series, here’s a recap on Forex. Forex stands for foreign exchange and involves the exchange of one currency for the other. The forex market is often where such transactions take place, with a daily turnover exceeding 4 Trillion USD.
Example: Sam lives in the US and is traveling to Europe. Sam has USD and needs to buy EUR. The current exchange rate is 1.3000 USD for 1 EUR. Sam buys 1000 EUR by selling 1300 USD (1000 x 1.3000). This is a foreign currency exchange or Forex.
For more information, please check out Trader’s Way.