What is Forex

What is Forex? Fundamentally, Forex market (also known as Forex) is where the speculation and exchange of currencies take place by the Financial Institutions, Governments, Traders, and Investors. With an average daily turnover of $3.98 trillion, the Forex market is regarded as the World’s biggest market. Buying of one currency and selling of another concurrently is called FOREX. This can also be referred to as Trading. The term Forex trading is common among the retail traders which refer to the buying and selling of currency simultaneously. For example, if based on speculation, you think the pounds is going to rise…

What is money?

What is money? Money is a representation made up to stand for an amount of work, some sort of effort or material. It is a powerful symbol and means different things to different people. Its value depends on the country it was created in, and what mankind puts onto it. We assign value to our money based on our own system of trade and value and the state of our economy. It can be precious metals like gold or silver or copper, or like in many of modern societies, it can be paper units. It became a standard of trade instead…