The ABCs of Forex Trading: Essential Terms Every Trader Should Know
The forex market (also known as Forex or FX) is the largest and most liquid financial market in the world. According to the Bank for International Settlements (BIS), the average daily trading volume of the forex market has surpassed $6.6 trillion as of 2023, significantly larger than any other financial market. For comparison, the U.S. stock market’s daily volume is around $500 billion, while the global bond market’s daily volume is $1.5 trillion. This highlights how crucial the forex market is to the global economy and how it’s a primary place for investors and traders to seek profits. Whether it’s global central banks working to maintain best currency trading app monetary policies or multinational corporations managing payment and currency exchange risks, the forex market plays an essential role. For individual investors, it provides opportunities to trade 24 hours a day and potentially earn returns. Why Understanding Basic Forex Terms is Importan...