What is Forex - FX
Forex (FX) - is the short-form of foreign exchange. So, it refers to the buying and selling of currencies - it is, therefore, a market. Also, FX traders are individuals who make money online by using forex as their avenue of income generation. These traders bank on the fluctuations in the value of the currencies in order for them to make profits.
Well, FX value is, in turn, dependent on external factors such as economic aspects. The price of a particular currency today may not be the same tomorrow. It may be higher or lower.
As such, by buying a currency at a value that is lower than the selling price, the trader makes money. This is regarded as forex trading. It is worth noting that more than $5 trillion in FX volume is traded daily