Trading Currency Pairs Such as USD/EUR, JPY/USD and CAD/USD
Have you ever wondered how to trade currency pairs such as the EUR/USD (Euro/United States Dollar) or the USD/JPY (United States Dollar/Japanese Yen).
Have you ever looked at the price movement of some of the major currency pairs and said to yourself “I knew that was going to happen - I could have made money from that!”
Let me introduce you to the world of forex trading.
First off, Forex stands for Foreign Exchange. The forex market is the largest market in the world, with trillions upon trillions of dollars per day of liquidity. The forex market is open 24/7, 5 days a week, and is completely decentralized.
There are many, many different active daily participants in the foreign exchange market. Countries, companies and individual speculators are just a few of the entities who will actively participate in the foreign exchange market on a daily basis. The reasons for participating range from necessity (such as a country needing to purchase US currency for trade) to speculation (an individual, such as yourself, trying to make some extra money predicting the move of a currency pair).
So how do you go about jumping into the exciting world of currency trading? It’s simple.
Simply click on this link and you will be taken to Etoro.com, which is the largest online forex broker in the world. Etoro is very legitimate - they have been around for years, have millions of customers and were funded by some well-known venture capital companies.
Etoro gives you the chance to test out the world of currency trading without actually risking any money through one of their Free accounts. When you are ready to upgrade and trade for real money, Etoro will give you a bonus of up to $10,000 on your first deposit.
Etoro also has an active community and an innovation called “OpenBook”, which allows you to automatically copy the trades of Etoro’s most successful traders.
That’s it - enjoy the world of currency trading!
Filed under: General Knowledge