Hi all and welcome to lesson 2.

FOREX - What is it?

1. The Market

The currency trading (foreign exchange, Forex, FX) market is the biggest and fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars. The participants in this market are central and commercial banks, corporations, institutional investors, hedge funds, and private individuals like you.

2. What happens in the market?

Markets are places where goods are traded, andthe same goes with Forex, In Forex markets, the "goods" are the currencies of various countries (as well as gold and silver). For example, you might buy euro with US dollars, or you might sell Japanese Yen for Canadian dollars. It's as basic as trading one currency for another. Of course, you don't have to purhcase or sell actual, physical currency: you trade and work with your own base currency, and deal with any currency pair you wish to.

CU tomorrow for lesson 3

Francesco