Extend your online presence and showcase your expertise to millions of financial consumers with a free profile. Get answers from financial experts and content tailored to your financial needs with your free MoneyTips account. Your password must be between trader in length and contain only letters, numbers, period, asterisk, underscore, dash and the sign. In order to maintain maximum protection for your accounts, please update your password. Please select a security question below. These questions will help us verify your identity in case you forget your password. Match your primary residence to your mortgage so we can get started with Mortgage Planner. The Foreign Currency Market, often called the FOREX or FX market, is a marketplace for the buying and selling of currencies, which are considered a form of commodity. Investors make or lose money based on changes in the value of relative currencies. Trades on the FOREX market are made in currency pairs — you are buying or selling one type of currency in exchange for another. The US dollar USD is the currency most often used as the base. Transactions occur in over-the-counter OTC markets throughout the world in major financial hubs such as New York, London, Singapore and Zurich. You place these trades through a broker, just as you would with stocks. Quotes are listed in pairs, with the base currency first and the price following. There will be a forex price and a higher ask price listed, which is the difference between the buy and sell points for the entity making the transaction. That difference, known as the spread, is how the frontline traders make their money. If you are selling a currency, you are concerned with the bid price for another currency; if buying, you need the ask price. Currencies are generally less volatile than stocks, but they can rise or fall quickly depending on events or economic conditions within a given country. It is possible to make heavily leveraged purchases that are many multiples of the money you have in your account — essentially your forex is lending you this money forex thus allowing you to make or lose significant trader of money with a limited investment. It is also possible for you to lose money, zero out your account, and potentially go well into the red. Typically, the FOREX is used either by hedgers who want to limit the risk of a currency change and ensure a predictable exchange rate for their international trade, or by speculators who are trying to profit on short-term changes in currency rates. Most individual investors make trades on current exchange rates, referred to as the spot market. However, just as with stocks, there are futures markets where contracts are created to buy or sell a particular currency at a particular price at a particular time. These contracts trader bought and sold just as they are for commodities. The available types of orders are also similar to those of stocks. You can place forex orders to trade at the current rates, limit orders that take effect at certain exchange rates, stop-loss orders to sell at a particular exchange rate 101 cut losses, and other orders that mimic equities. One also has to consider the format of the currency is it free-floating or linked to another currency, such as the Chinese Yuan linkage to the US dollarand the governmental forces that can affect policy — for example, is the central bank of the country strong, and what are their tendencies toward altering the money supply and monetary policy? Are ready to try your hand at FOREX trading? You should not if this article constitutes your entire research. Fortunately, there are several excellent in-depth primers online. Investopedia has a nice set of tutorials on FOREX trading, but even that is not enough to get you started. However, if you find the idea intriguing, do extensive research and some practice currency trading without risking actual capitaland then set up an account with a broker you trust. You can then put your proverbial toe in the water, with smaller trades that involve little or no leverage until 101 understand the FOREX market better. Perhaps George Soros will eventually be asking you for advice. The email address you entered is incorrect. The password you entered is incorrect. Get FREE, full 101 to MoneyTips. Open Your Free Account. By submitting you agree to our Terms of Service. Strengthen Your 101 In order to maintain maximum protection for your accounts, please update your password. Security Question Please select a security question below. Enter answer to your security question. Match your primary residence to your mortgage so we can get started with Mortgage Planner Properties Mortgage Mortgage Type Home Type Property Type. Sign Up Sign In Are you a Financial Professional? Credit Manager Debt Optimizer ID Protector Mortgage Planner Retirement Planner Ask a Pro Find a Pro Rate Compare. Credit Cards Personal Loans. About MoneyTips Contact Us Privacy Policy Terms of Use Community Guidelines MoneyTips Contributors. Personal Loans For People With Fair Credit. Consumer Credit Slows In April. Don't Borrow Against Your Retirement Plan! The 7 Deadly Sins Of Credit. You Have More Than One Credit Score. Personal Loans For People With Poor Credit. Is Your Diploma Worth the Debt Load? Costs Of Being A Dad. The "Clear to Close" Letter. Women Dominate Student Loan Debt. August 15, The Foreign Trader Market, often called the FOREX or FX market, is a marketplace for the buying and selling of currencies, which are considered a form of commodity. 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