Get to know Forex Trading, which is currently much in demand by Millennials?
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Get to know Fоrеx Trading, which is currently much in demand by Millennials
By BISNIS MAN January 28, 2022
Get to know Fоrеx Trading, which is currently much in demand by Millennials - Forex trading or forex trading has recently become a rarity. Forex trading is considered as bringing high profits, and maybe you are one of the people who make this happen. However, before anyone actually plunged into this world, promulgating a large number of information about forex trading is a very powerful thing.
That way, you can run it easily with science. So it has the potential to get bigger profits. Before discussing further how the system is, there is a reason you need to know what is meant by forex trading and it is different with Money Changer.
Understanding Forex Trading
Forex trading or known as forex trading is the activity of buying and selling currencies of other countries. Closest Fоrеx of Fоrеіgn Exсhаngе which means foreign exchange. So it's clear, what is the medium of exchange here is currency. The currencies that are commonly used incorrectly are USD (American currency) and EUR (Europa currency).
In the world of forex trading, it is known as a trader. A trader is a person who carries out forex trading. If you play forex trading, then you will be known as a trader. So much less.
Then, what's the difference with Monеу Changer?
In this case, the equality between the two is the same as exchanging foreign currency. However, there are many significant differences.
First, Monе Changer is an activity to exchange currency for the currency of another country with the aim of being used as a medium of exchange in the country visited. While forex trading aims to make profit from the difference in the price obtained. From here it can be concluded, that the goals of the two are different.
Second, foreign exchange activity at Money Changer, can be done online on an outlet that reads Money Changer. Meanwhile forex trading can be done online. In other words, exchange at Money Changer is highly location dependent, whereas forex trading is not.
In addition to making a profit, forex trading can be used as a trading activity. Forex trading can also be used as an investment instrument. In fact, nowadays forex trading has become part of the job.
For those of you who want to start forex trading, you can start with a capital of 10 dollars only.
History of Forex Trading
Actually, what is it that led to forex trading so that it can skyrocket like it is now?
In the 90s, forex trading was not as busy as it is now. And only rich people can do it. Because at that time, forex trading is identical to its very large capital. So, only banks and big companies can trade.
They trade forex for their business purposes. In addition to earning profits, keeping the company stable is also one of its goals.
However, when the Internet world is developing very rapidly, especially at this time, forex trading can be done by anyone. Starting from the company to the individual class. The capital is not as great as in the past. This was the beginning of the very famous forex trading and became popular until now.
Traders can carry out transactions very easily via a computer or a smartphone. In addition, trading can be done anytime and anywhere without being tied to a place. In addition, the profits obtained can be realized directly from the difference in forex prices that are traded.
That's the explanation about forex trading that you need to know. Thus, you can proceed to the next stage to learn the buying and selling mechanism. Hopefully the above explanation is useful.