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Best platform for Forex trading

forex trading
Credit: peepo

What is Forex?

Forex or as most people know it, foreign exchange, is a decentralized world market where people can trade, buy or sell currencies. It is also the biggest market in the world for currency trading. The average money that people and companies spend on this market is well above $5 trillion each day which is a huge number. It is bigger than all the stock markets combined. Every time someone goes to a foreign country and exchanges his or hers local currency to another currency, they use Forex.

The point of Forex

To simplify it, Forex is a change between two currencies. The biggest companies in the world are using Forex every minute. One euro could be worth 1.06 dollars and in the next minute it could be worth as much as 1.10 dollars. These companies or people then sell their euros for the bigger price and that is how they pay off their workers. The amounts of money they use in these transactions are huge. Even if the difference is small (0.04), when they convert a lot of money it makes a big difference. This system isn’t just used by companies but by a lot of people. It can get you very rich in a short period of time but can also make you broke. When people see a currency that is going down in value (example USD) they then sell that currency against other currencies (example Euro). The more the USD goes down in value against the Euro the bigger the profit people make. Some people have even made this their job and spend more than 10 hours a day watching and following the worth of different worldwide currencies. A lot of banks and companies lend money to people that start trading and the most important thing is leverage. The bigger the leverage ratios the more money you can gain or lose.

What is the best platform for Forex trading?

There is a variety of websites and platforms that offer people Forex trading. One of the best platforms on the market is called Metatrader 4 Forex trading platform. They have been working since 2006 as a platform. The trading volumes of this company are well above $60 billion each month. They don’t charge any money for the download but you do have to invest some funds into your account after you register on their platform. The offer a variety of trading possibilities from currency trading to Forex trading and CFD trading. They even offer education on how to start trading and get good at it. It’s the most flexible and fastest trading platform there is. They have expert advisors for algorithmic trading and they also offer trading signals from the best supporters in the world. People can access their platform from their PC, Mobile or the web. You can also trade with ofer 50+ Forex pairs, which include the biggest currencies in the world and they even offer trading with Bitcoin and othey crypto values.