Currency trading: How is it done, and how do you make money doing this?

Currency trading: How is it done, and how do you make money doing this?

Dubai: Currency trading is simply the process of buying and selling currencies such as the US dollars, the euro, the British pound, Japanese yen, and Swiss franc, at a profit. So it involves purchasing one currency while simultaneously selling another, while generating profits from forex movements. One area where forex trading is applied is when money is sent overseas. Foreign currency exchanges swap one local currency into another, allowing a customer to convert their existing currency into the desired foreign currency, using exchange rates based on the global trade markets. “Investing in foreign currency can be a great way to diversify your portfolio,” said Amit Trivedi, UAE-based long-time forex trader and analyst. “Foreign currency trading, or forex for short, is a little more complex than trading stocks or mutual funds, or shoring up your investment strategy with bonds. “Learning the basics, however, can give you a solid foundation to build on if this is an asset class you’re interested in exploring. This guide walks you through everything you need to know to get started with investing in currency.” As mentioned above, investing in currency involves buying the currency of one country while selling that of another, and it is done