Foreign Exchange market was established in 1971 in short referred as FX Market or Forex Market, the largest market in the global trade involves largest organisation covering central government, commercial companies and international commercial banks including smaller players such as brokerage houses and individual brokers.
There are no set location for the market, but trading are mostly done through phone or internet. In global trade exchanging currencies constitute the central element where foreign dollars such as US dollar, Japanese Yen, British Pound and others are exchanged with Indian currencies yielding profit to the players irrespective of what kind are they( smaller or larger player).
The minimum investment for smaller players commences from hundred thousand dollars, for person who can't start on their own can use the "Forex Broker" who will assist you in opening an online forex with a minimum account of $280. FX Market is a technical one. To get into the trade one must be aware of the basic principles underlying this trade.
2 comments:
December 22, 2008 2:44 PM
Nice intro .. Forex is gaining more popularity and many people are interested in exactly what it is.
January 7, 2009 8:06 PM
I've always heard the term forex, but I've never known what it is exactly. After reading your intro, I feel that I kind of have a grasp on forex and what it is. Thanks man!
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