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Disclaimer: The average trading volumes presented on this page are the result of out efforts to gather and compile information from different internet sources. We have no guarantee that the numbers are correct, and considering the volatility of the forex market and the seasonal dynamics, it is possible that such numbers will suffer significant changes from month to month. Please also note that the ratings we give to forex brokers are based on our own research and criteria, but do not represent an endorsement or a critique of any broker. We are not giving investment advice and we think anyone should do his/her personal due diligence before registering with a specific broker. Forex trading is a risky activity and you should never trade with money you cannot afford to lose. While money changers have existed since the invention of money, the modern era of Forex trading is a relatively new thing in history. You see, after World War II, the United States and its allies wanted to start a global effort to rebuild the war ravaged economies of the world and to do so, they needed a global agreement to cooperate with each other to facilitate international business. Hence, to create a unified financial order in the postwar world, all the major economic powers attended a meeting formally known as the United Nations Monetary and Financial Conference, or the Bretton Woods Conference, in 1944. At that conference, it was agreed that each nation would pursue a monetary policy that would tie their national currencies to the price of gold. Aside from buying and selling currencies, you can also trade Forex to hedge your investments in a foreign country. For example, if you want to invest in a company trading on the New York stock exchange from Nigeria, which requires you to convert your Nigerian naira into US dollars, then you can sell an equal amount of USD by buying NGNUSD to hedge your investments.
learn how to currency trade
This allows traders to trade forex futures on their own free time, regardless of what time that may be.
how to trade foreign exchange
The first currency is known as the base currency and the second currency is known as the quote currency.
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