Forex trading is a type of investment, which, if done correctly, promises very attractive returns for traders in Algeria. What are the tips for forex trading successfully in Algeria? Before getting into Forex Trading, we first must understand what Forex is. You might also visit http://www.arabforex.pro/en/algeria/ if you want to find the best forex broker in Algeria.
So, what is Forex?
Forex stands for Foreign Exchange, which means the exchange rate between one currency and another. Forex value can change at any time depending on the mechanism in the market, buy and sell. Due to its changing values, Forex in Algeria has become a trading arena.
What is Forex Trading?
The Forex market is open 24 hours a day, from Monday morning to Saturday morning, and nearly £ 3 trillion in currency is traded every day. Trading is your trade (sell/buy) financial products, in this case, forex (currency) based on the price prevailing in the market when the transaction takes place. Your trades are made through a forex broker in Algeria.
Forex Trading Hours:
The New York stock forex trades between 13:00 – 22:00 GMT For London, it is between 08:00 – 17:00 GMT For Tokyo is between 00:00 – 09:00 GMT For Sydney is between 22:00 – 07:00 GMT
With a volume of USD 5.3 trillion per day, forex trading is the largest financial exchange.
What makes forex attractive to traders in Algeria is high investment liquidity due to large trading volumes as well as high price volatility for maximum profit opportunities.
FX is very popular among individual traders because of its accessibility and simplicity compared to other markets.
You can trade FX on an online account linked to a broker from anywhere in the world. An FX trader buys or sells a currency hoping that it will go up or down against the value of another currency to profit from the price difference.
By observing market price movements, as an investor, you have the opportunity to profit, or experience risk (loss) according to the price changes that occur.
For example, you buy 1 lot of EUR / USD at 1.2500 and sell it when the price rises to 1.3000. The difference from this price increase will be your profit, or it can be a loss if the price goes down.