Trading FOREX Make Money in Trillion Dollar Industry
#Forex #TradingforBeginners #MakeMoney #TradeBinary #BinaryOptions #EURUSD #TradingForex
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Currency Binary Option
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Binance Exchange
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Forex (FX)
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Volume of Trade
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Securities and Exchange Commission (SEC)
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Electronic Data Gathering, Analysis and Retrieval (EDGAR)
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Forex (FX) refers to the marketplace where various currencies and currency derivatives are traded, as well as to the currencies and currency derivatives traded there. Forex is a portmanteau of "foreign exchange." The forex market is the largest, most liquid market in the world by trading volume, with trillions of dollars changing hands every day. It has no centralized location, rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).
Many entities, from financial institutions to individual investors, have currency needs, and may also speculate on the direction of the movement of a particular pair of currencies. They post their orders to buy and sell currencies on the network so they can interact with other currency orders from other parties.
The forex market is open 24 hours a day, five days a week, except for holidays. The forex market is open on many holidays on which stock markets are closed, though trading volume may be lower.
How Currency Binary Options Work
Currency binary options are often considered to be a form of online gambling on currency markets, rather than investing or hedging. Unlike spot trading, you lose your entire stake if the binary option is not in the money (ITM) at the time of expiration. The premium on a currency binary represents the consensus odds that the strike exchange rate will be reached by expiration. Moreover, currency binary options tend to have rather short expiration cycles, lasting from days to hours, or even minutes. To make any money, you have to be right well over half the time.
Because the odds are stacked in favor of the house, short-term volatility in currency markets makes winning consistently with binary options very difficult. No one, not even the best professional forex traders, can know what will happen to an exchange rate in the next 5 or 10 minutes. However, binary options trading, which is a relatively new and largely unregulated market, does appeal to people who enjoy addictive gambling products, like online poker.
Currency binary options are mostly limited to major currency pairs like EUR/USD, GBP/USD and USD/YEN. Like forex spot trading, investors can start trading online with relatively small amounts of capital. In the U.S., binary options are highly regulated and only available on a small number of exchanges, such as Nadex. They appear to be more popular in European markets.
How Large Is the Forex?
The forex market is unique for several reasons, the main being its size. Trading volume is generally very large. As an example, trading in foreign exchange markets averaged $6.6 trillion per day in 2019, according to the Bank for International Settlements (BIS).1
By comparison, this volume exceeds global equities (stocks) trading volumes by roughly 25 times.2
The largest foreign exchange markets are located in major global financial centers like London, New York, Singapore, Tokyo, Frankfurt, Hong Kong, and Sydney.
Best Online Brokers for Stock Trading of 2021
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ETrade
TDAmeritrade
RobinHood
Interactive Brokers
TradeStation
ZacksTrade
Nadex
Ally Invest
Charles Schwab
Fidelity
