Forex or the Foreign Exchange Market is an international trading system with a daily turnover of over 4 trillion dollars. Because it is not based in only one place the Forex market is a very diverse and liquid market. Today, thanks to the internet and technological advancement anyone can make profits on the Forex market using the right tools. uBanker is determined to give you these tools to make your trading experience easy, profitable and enjoyable.
The main instruments traded on the Forex market are currencies. Currencies are always traded in pairs – you buy one while selling the other, for example: USD/JPY. In the given example the USD is also referred to as the “base currency” and the JPY is the “quote currency”. The “base currency” is the one you buy and the one you sell is the “quote currency”.
Buy, also referred to as Bid, is the price at which the investors sell and the dealer buys.
Sell, also referred to as Ask, is the price at which the investors buy and the dealer sells.
You will notice that there is always a difference between the buy and sell price – that difference is called a spread. The spread is the cost paid by the investor buying the currencies – that is you.
Before deciding which currencies to buy or sell you need to educate yourselves in the art of Forex trading. You decisions will be based on the analysis of fundamental and technical charts and market news. Here at uBanker we know so much information can be overwhelming and that is why we have explained everything to you in our uLearn section.
Below you can also find a list of tradable currencies uBanker offers:
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