Foreign exchange market is same as the stock market and the commodity market but the difference is in the methods of making a deal and the goods offered. As the name suggests, the product offered in it is foreign exchange currency. As a trader, you have to buy currency at a lower rate and sell it at the higher rate and the difference is your profit. You can also trade in a reverse manner, if you think that the price of the currency will go down, sell it at the higher rate and buy it back at a lower rate. In this case also, the difference in price is your profit.
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