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Forex is short for The
Foreign Exchange Market.
It was formed in the
1970's to exchange
Foreign currencies
around the world and
trading on the market is
growing at a staggering
rate. Large banks and
institutes are the big
traders and the Deutsche
Bank actually account
for around 20% of all
trades.
How does
the Forex work?
You have a bid (buy) and
ask (sell) price. The
difference between the
bid and ask is called
the spread. Basically if
you wish to buy currency
the banks or a
market-maker will sell
to you at the ask price
or higher price and if
you wish to sell this
currency they will offer
you the lower bid price.
Most
Traded Currency
The US dollar is the
most traded currency and
accounts for above 80%
of all trades. The Euro
is second with the
British pound currently
trading around 4th place
or 15%.
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