What is Forex?
What is Forex?
Forex or Foreign Exchange, also known as FX. In Indonesia, this term is better known as foreign exchange or foreign currency, which means foreign currency exchange rates. Each country certainly has a currency that applies in their respective countries. For convenience, the international three-letter code is used to refer to each currency. The use of this code is also easier because several countries call their currency by the same name.
What is meant by Forex trading?
Forex trading or transactions in forex, means exchanging or trading one currency for another. Each currency has its own value compared to the currency of other countries, which is called the exchange rate or exchange rate of the currency. Therefore, forex transactions are always carried out by two currencies (in pairs). This comparison with foreign currencies is necessary for business transactions between countries.
How to Trade Forex?
In the past, only large institutions could transact forex, but with the development of the times, now anyone can transact foreign currencies. To be able to transact forex, you need a broker (intermediary) to be able to buy or sell foreign currency. One of the most trusted brokers today is MRG Premiere. MRG Premiere has been registered and regulated as a forex broker in New Zealand and has received many good reviews for traders in Indonesia.
How to Get Profit from Forex?
If you buy a physical currency through a money changer, you will get a profit when the currency price rises. In online forex trading you can do the opposite too, for example when prices are high we sell not our own goods (currency), but we borrow from brokers. After the price drops we buy at a cheaper price. So we return the goods (currency) to the broker. The difference in the buying and selling price is our advantage.
Rules And How To Trade Forex
The requirements / infrastructure in online forex trading are very easy and cheap. The method and the rules for being able to trade forex is easy, how to trade properly in order to become a winner / profit, that's what is difficult. The basics of forex trading are very simple:
- Buy if you predict it will go up, and Sell if you predict it will go down.
- And if the prediction is correct it will be profitable, if not vice versa.
- Sydney is open from 10:00 pm to 7:00 am GMT
- Tokyo is open from 12:00 am to 9:00 am GMT
- London is open from 8:00 am to 5:00 pm GMT
- New York is open from 1:00 pm to 10:00 pm GMT