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What FOREX really means is Fx market. It may be the trading of international currencies, 24 hours a occasion. The trading doesn’t take place in a centralized exchange a lot NYSE but from registered dealers who quote on major legal tender. An example of a trade are going to be if bought $10,000 Canadian dollars in the CDN/USD exchange of New York corps 9.18 ($11,800). Then a weeks later, the exchange changes to 6.25 and you sell your $10,000 CDN back to USD ($12,500) and your profit is $700.

The major currencies have got traded become the USD/CHF – US vs Swiss Franc, USD/JPY – US v. Yen, EUR/USD – Euro vs. US, GBP/USD – Great Britain Pound v .. US, USD/CAD – US vs. Canadian Dollar burning off AUD/US – Australian instead of. US. There are many more, message represent the 6 biggest currencies swapped. These were decided in 1972 and maintain basically stayed the same since.

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