FAQs
What is the definition of forex?
Forex - sometimes referred to as 'FX' for short, stands for 'foreign exchange'. In its most basic form, forex is the process of buying and selling currency pairs with the review of making a profit
What is the best forex pair to trade?
There is no one size fits all answer to this, as it all depends on personal preference. With that said, you are best advised to stick with major pairs when starting out, as these come with lower levels of volatility in comparison to minors and exotics.
Can I trade forex for free?
If you want to trade forex for free, you will need to open a demo account with a trusted broker. This will allow you to trade with demo funds.
What is a buy and sell order in forex?
In order to trade forex, you will need to place a buy or sell order at your chosen broker. If you place a buy order, this means that you think the price of the exchange rate will go up. If you think the exchange rate will go down, you need to place a sell order.
How does a penny stock investment work?
You will first need to find a broker that has access to the OTC markets. Then, once you have found a penny stock that you wish to invest in, the broker will attempt to find the shares on your behalf.
Why are penny stocks so volatile?
Penny stocks are volatile because they are normally backed by small-cap companies. This means that a single large order can influence the price of the stock in a major way.
What is the minimum amount I can trade forex with?
This will vary from broker to broker, so check this out before getting started. In most cases, you will need to deposit between $100-$200 to open an account.
