Forex is in short for Foreign Exchange. If you googled the word Forex, you probably will find more than 161,000,000 results in related to the word Forex. Forex is currently the most traded Instrument in the world with more than five trillions Dollars trading volume in a day! Yes, it is $5,000,000,000,000 in one day!
Forex market opens Seven days a week, twenty four hours a day. Forex trading used to be just a rich man game where only banks are allowed with minimum millions in every transaction. Thanks to the advancement of technology and now, every man on the street has a chance to participate in this trading game with even just to with one Dollar!
The trading of Foreign Exchange is fairly simple. In the nutshell, is the act of buying or selling one currency in exchange with another. For Example when we travel to US from Singapore or Malaysia, we would exchange our domestic currency into Dollars for later use. We inevitably encounter ourselves in Foreign Exchange trading.