Forex, or foreign exchange, is the largest financial market in the world, with trillions of dollars traded every day. It involves the buying and selling of currencies from different countries with the aim of making a profit. Forex trading is done through a network of banks, financial institutions, and individual traders operating around the clock.
The basic concept of forex trading is simple: you buy one currency while simultaneously selling another. The value of currencies is constantly fluctuating due to various factors such as economic indicators, geopolitical events, and market sentiment. Traders aim to profit from these fluctuations by speculating on whether a currency will increase or decrease in value relative to another.