Before understanding a forex review, you need to understand what forex actually is. Forex is basically a market in which currencies are traded. It is known by many names. It is referred as fix, foreign exchange market, spot fix, retail forex, or spot. By taking a look at a forex review, one comes to know that it is the world’s largest financial market. In this market, buyers and sellers buy and sell the currencies in order to make profit. Fix is very risky business. Often many experienced traders have to face trouble in this market. So they should follow some sort of strategies in order to make their business successful.
Forex review reveals that as it is a market of currencies, so the simple answer of what is traded in fix, is money. It is basically a business of buying and selling of currencies simultaneously. In order to trade currency, there is a need of some commercial agent who trades the currency in pairs. Remember that in forex exchange market currency is always traded in pairs e.g. Gap/joy British pound and Japanese yen. Forex is the best known home business. Also this is the most trading liquid market.
By taking forex reviews, you will come to know that the foreign exchange market is also called as spot fix. So it is necessary for traders to get the idea of spot market. Spot market is basically a market which deals with the current price of a financial market. All the currencies traded in the market are recognized by their three word code. The symbols used for some famous countries in foreign exchange market are: used for united state, joy for Japan, euro for Europe, gap for great Britain, cad for Canada, aid for Australia, and chef for Switzerland. The above countries are the most popular countries involved in forex business. The foreign exchange market has daily trading volume of around $1.5 trillion.
Forex review divulges that, the survival of this market depends a buying and selling of currencies. Also the survival of any market depends on the customer. Therefore forex market also needs customers to trade. So in order to trade, the trader should determine whether they want to buy or sell. In foreign exchange market one can buy and sell currencies for another. In buying and selling of currencies the two important terms called as long and short are used. When traders buy currencies they are said to be long in that currencies and when they sell currencies they are said to be short in that currencies.