Forex” stands for foreign exchange or FX exchange is an online website used to buying or selling of one currency for another currency.
How currencies are traded in forex exchange platform?
All currencies are specified in a three-letter code such as EUR, AUS, USD, etc. The U.S. dollar is involved in a vast majority of forex trading market and the second most popular currency is the euro.
All forex trading is expressed as a combination of the two currencies
AUD/USD EUR/USD GBP/USD NZD/USD USD/CAD
USD/CHF USD/JPY AUD/CAD AUD/CHF AUD/JPY
Three types of Forex Market
The spot market. In this trading, the currency pairs are swapped and exchange fees are determined in real-time by the exchange owner, based on supply and demand.
The forward market. In forex trading, the user can also enter into a private contract with another trader according to the term and conditions of an exchange and agreed-upon amount of currency on a future date.
The futures market. Similarly, the buyer or seller can predetermine the amount of a currency at a specific exchange rate at a date in the future.
Why traders moves into the Forex Market ?
The currency prices are set by the supply and demand of sellers and buyers in market. When the demand for particular currencies can also be influenced by interest rates, central bank policy, the economic growth, and the political environment in the country in question.
forex market is open 24 hours a day, five days a week, which allows you for trading.
IMMFX online forex trading website market is open 24 hours a day, five days a week, offering a wide range of financial products for online trading including Precious Metals trading, Oil and Energies trading, indices, and CFDs.
Benefits of trading in IMMFX
IMMFX offers the lowest 0.1 pip, direct interbank (STP) trading access, and swap-free trading accounts for the active traders with the lowest margin requirements for all products.
IMMFX has a separate trading account that suits your trading needs; whether you are a beginner, an intermediate, or a professional.
It has a deep liquidity system most trustable exchange platform.
It is also called a low-cost forex brokerage website.
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