What is Forex Trading?
Forex, also known as foreign exchange and the foreign exchange market is the place where money is traded. Currency is important for people all over the world.
Currency exchange is required to conduct foreign trade business. It is the largest and most liquid market in the world. It measures different markets and even stock trading systems midgets with almost a normal exchange estimate.
It is a global decentralized market for financial transactions. This market decides distant trade. The main member of this market is the big public bank. This market has a wide range of multiple types of buyers and sellers.
The Forex trading market is unique due to the following features:
Lots of exchange rate, talking to the largest resource class on the planet induces high liquidity; Continuous work, 24 hours per day except weekends;
Continuous operation, 24 hours a day without weekends;
Various factors that affect the exchange rate;
কম Low profit margins compared to other markets;
ব্যবহার Use of leverage to increase profit and loss margins.
The Forex trading market is referred to as the market closet for the ideal of perfect competition.
There are so many types it’s hard to say.
One must make sure that their internet connection and computer is always running very smoothly. We all know that things happen, servers shut down and our PCs freeze or shut down depending on current activity. This can affect the transaction so be aware that things can happen during the trade
There are also risk-free accounts that allow you to practice without losing your own money.
The Forex trading market is always open 24 hours a day, 7 days a week. It doesn’t matter your time, location, internet connection and a computer, you can login to trade me anytime.
It is measurable. With this feature, traders will be able to control and limit the risk depending on their account.
Leverage is a huge advantage of the Forex trading market, where brokers allow you to trade up to 2% of the total contract size compared to the stock market. One can use small accounts to do big business where the wins can be quite large and you only need small capital to get it.
Data and software are provided free of charge; You don’t have to pay, all you have to do is log in to your broker’s website. Download the software, the charts will appear as soon as you log in.
There is no commission; The better you pay the spread cost which depends on how much you trade.
As an individual, you face a lot of competition from ready-made merchants with huge money-related foundations and a lot of dollars in programming and resources.
Unlike the stock market, there is no centralized exchange house. The broker acts as an exchange that makes him a market maker.
If you have no idea about capital exposure and how to calculate leverage then you will face huge loss.
Good traders go into business with only 2% initial capital and no more.
The Forex trading market moves differently throughout the day, with only a few peak hours that are worth your time trading.
Trading on margins also brings a high level of risk which smart traders should avoid. Always evaluate the amount of capital and risk you are willing to take when trading.
Never enter forex trading in such a way that you cannot lose.
Likewise your commitment to the dangers that come with forex exchanges before you go before your first exchange.
Leverage is one of the biggest risks in Forex trading It can bring a lot of benefits if you win, but on the other hand, it is an irresistible loss if you lose.
Forex trading in Islam.
This is a difficult question to answer according to Islamic law. Money transactions are halal on certain conditions as directed by Islamic experts, but there are some questions on the exact conditions.
This means that any kind of agreement that involves an element of interest is strictly forbidden in the eyes of Islam. Forex trading is not allowed in Islam and is very broadly defined. The retail forex trader reflects the market by paying incentives or charges between two parts of any money mill whose position is open in the medium term. It will seem permissible as long as it (exchange) is in hand. The exchange of different kinds of goods was in the mind of Prophet Muhammad (peace be upon him). It will be made between the two sides, acknowledging that it was a normal aspect of the trade.
Most forex experts create “Islamic Forex Brokers” and offer “Muslim Forex Accounts” to respond to the display of power and weight from Islamic dealers who work without any conspiracy.
However, forex trading offered by “regular” forex brokers, including overnight interest payments or charges, can overcome the rebar barrier.
For online trading, cryptocurrency trading requires an online currency exchanger. Many online exchangers offer benefits by providing strong security, fast transactions and stability. Some of them are Binance, Changely and the newly introduced Nexchange. These platforms deal with a variety of cryptocurrency trades.