Forex is an abbreviation of the words Foreign and Exchange.
When it comes to the definition, it is the exchange of one currency to another.
There are two main ways to benefit from forex trading.
Either you speculate that a certain currency will depreciate in the future and then you sell or you believe that a certain currency will appreciate in the future and you buy.
The forex market has three main characteristics:
Number one: it opens 24 hours a day, 5 days a week.
Number two: it is a decentralized market, which means no matter where you are in this world, you can participate.
And finally, it is the largest financial market in the world with 5 trillion dollars traded daily.