Forex, the abbreviation of the foreign exchanges. It is sure that this word is not familiar to us, but we often hear the phrases, 'Yen-appreciation' or 'Yen-depreciation' on TV news every day. The forex rate represents the value of money around us in comparison to other foreign currencies. We cannot ignore the continuous change of value time after time because it would be likely to affect the prices of food and energy. We can make use of forex trading as a tool of hedge for depreciation of our money. In addition, forex trading provides us with the opportunity of investment and speculation only for profit-taking purposes. This web site offers brief instructions necessary to you all, especially to those who remains unknown how to trade forex although greatly interested in it. This item is titled as 'Let's get started forex trading from zero', and follows three parts, Step 1: Introduction, Step2: Method and Step 3: Practice, without many difficult terminologies.
The banking act defines exchange as sending money to another place without cash movement. In short, exchange stands for the remittance whether domestically or overseas. Generally speaking, the word, exchange, represents foreign exchange, so called, forex on TV news.
The forex means the remittance to each other between different two currencies, as accompanied with the relevant cash movement beyond the border. You might change your domestic money into foreign currency in advance when you go abroad. The exporters like automakers need to change the foreign currency arising from sales activity overseas into domestic currency, and the importers like oil wholesalers need to buy US dollar for the payment of foreign debts thereafter. These cases are all called as forex transactions.
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