What is Forex?
If you ever travel abroad, you exchange exchange of currency in the country that you travel instead of the money in the airport.
You will not be able to continue without a currency exchange in the country where you go, so you have to exchange currency.
If you look at the counter screen, you will see that the cost of $ 1 is equal to Tk 80. Your mind will become so bad that you have to exchange so much money and exchange it in exchange for so little. When you say that the price of 1 Pepsi is a few cents, you are happy again.
When you do this, you are participating in Forex market. You exchange a currency instead of one currency. When you travel to America, you exchange dollars in exchange for money.
When you come back to the country when the dollar is converted to money again, you will see that the exchange rate has changed. This exchange rate has changed, with that you can gain Forex market and make money.
The foreign exchange market, commonly known as "Forex" or "FX" / "FX", is the world's largest financial market. If compared to the New York Stock Exchange (NYSE), Decken is trading $ 24.4 billion daily in NYSE and the forex market is approximately $ 6 trillion daily trade.
You hear various news in NYSE, CNBC, Bloomberg or BBC market. They basically talk about the stock market. Therefore, the market seems to be very big and loud.
But when compared to forex market, you can see what the market is like. The following graph will give you ideas.
Forex market is more than 200 times larger than other stock market. But there is another side here. $ 5 trillion is the size of the global Forex market.
Retail traders mean we are trading on Forex market, which is approximately $ 1.49 trillion. Then see that the forex market is bigger than the market of amneste also.
Now is the interest in the market awoke? Let's go to the next practice.
Wait for the next episode.