Forex is an abbreviation for Foreign Exchange. The foreign exchange market is a market where currencies are bought and sold. Buyers sell one currency and get paid in another. They are basically doing the same thing as you do when you change money before a trip abroad.
A forex trader buys and sells currencies on the foreign exchange market with the goal of making a profit from the volatility on the exchange market. The value of one currency in relation to another is always fluctuating. A skilled trader is able to predict some of these fluctuations and benefit from them.
The Forex market is open to anyone. All you need to be able to trade on the forex market is an account with a forex broker. Many forex brokers provide you with a demo account that you can use to try forex trading without risking your own money. I recommend that you use a demo account until you have learned how to trade successfully.
Forex trading can be very profitable but can also be very high risk and some people lose large amounts of money in the Forex market. Make sure that you understand how Forex trading work and how to minimize the risk for losses before you try forex trading.
You can use Forex backed binary options to hedge your Forex positions. Click the link to find out more about how binary options work. Keep in mind that the options are very high risk and should only be used if you know how to use them effectively.
