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What is FOREX/Spot FOREX?                               বাংলায় FOREX
In the word FOREX we can find basically two word, they are FOR & EX
Here FOR means Foreign 
EX means Exchange
By joining two word we get the meaning of FOREX is Foreign Exchange.

Forex or Spot Forex is buy or sale of foreign currency. In the forex Market you can buy one currency (Examply: Currency of Country X) against to sale other currency (Examply: Currency of Country Y)

FOREX  the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.

AS AN EXAMPLE

The currency of America is Doller (USD)& the currency of London is Pound (GBP). In the FOREX market your can buy doller (USD) against to sale Pound (GBP). Again you can sale Doller (USD) against ot buy Pound (GBP).


How To earn by FOREX?
We know the currency of one country is changeable against to other country. You could be seen that American Doller (USD) become stronger against to Bangladeshi Taka (BDT). At that time if you have USD youSometime it become opposite. Like the currency of America & Bangladesh, all of the currency of the world is changeable one currency against another.

What is the facility in Forex trade? 
▲ Investor can trade with very small amount minmum 1USD. Most of the Forex broker deliver Demo    software to their prospective client. After trade with demo they can trade with the real one with small amount.

▲ All of the broker facilitate their client leverage/Loan Facility. It basically 1:100, 1:400, 1:500, 1:600, 1:1000. The limit of the leverage facility depend on the broker.

▲ There are different kinds of  Bonus Facility in forex market thats are provide by the broker to their client. For example: welcome Bonus, investment bonus & Educational Bonus. The rate of bonus is 30%-100%. The rate of bonus is depends on the types of bonus. Some bonuses are withdrawal (have some terms & conditions) others types bonus are not withdrawal.

▲ Scalping is the familier word to the short time trader. Any trader can close the trade after he/s got profit.

▲ Market open 5days in week so any trader can trade anytime in 5 days in a week (Monday-Friday) & 5*24=120 hours in week.

▲ There is no limit of profit. Anyone can make profit $100+ with initial deposit $20 in a week or less.

▲  There is no dull season in Forex market because treader can buy or sale any paired

▲ No commissions No clearing fees, no exchange fees, no government fees, no brokerage fees. Most retail brokers are compensated for their services through something called the "bid-ask spread"

▲ No middlemen Spot currency trading eliminates the middlemen and allows you to trade directly with the market responsible for the pricing on a particular currency pair.

▲ No fixed lot size In the futures markets, lot or contract sizes are determined by the exchanges. A standard-size contract for silver futures is five,000 ounces. In spot foreign exchange, you decide your own lot, or position size. This enables traders to participate with accounts as small as $25 (although we'll report later why a $25 account is a bad idea).

▲ Low transaction costs  The retail transaction cost (the bid/ask spread) is usually less than 0.1% under normal market conditions. At larger dealers, the spread could be as low as 0.07%. Of work this relies on your leverage and all will be explained later.

Market Players of FOREX

1. The Super Banks

2. Large Commercial Companies

3. Governments and Central Banks

4. The Speculators

 

When Can You Trade Forex?

# Market Open/Close:

Market Open: Monday 3 AM

Market Close: Saterday 2 AM

Below are Forex market sessions and examples of the most active currency pairs:

London/ New York sessions:

EUR/USD

USD/CHF

GBP/USD

Tokyo/Sydney sessions:

EUR/JPY

AUD/USD

USD/JPY

AUD/JPY

Sydney session:

AUD/USD

EUR/USD

During the week the most active Forex trading days are: Tuesday, Wednesday and Thursday. Sundays (opening) and Mondays are days when traders are mostly watching and analyzing the market and predict further price moves. Fridays are traded approximately till noon, after that all actions slow down and almost freeze before the actual market closing at 5 pm EST.

London        –       3 AM through 12 noon Eastern time (~35% of total FX volume)

New York    –       8 AM through 5 PM Eastern time   (~20% of total FX volume)

Sydney         –       5 PM through 2 AM Eastern time   (~4% of total FX volume)

Tokyo           –       7 PM through 4 AM Eastern time   (~6% of total FX volume)

 

What is Traded?

The simple answer is MONEY.
Because you're not buying anything physical, this kind of trading can be confusing.
Think of buying a currency as buying a share in a particular country, kinda like buying stocks of a company. The price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.

When you buy, say, the Japanese yen, you are basically buying a "share" in the Japanese economy. You are betting that the Japanese economy is doing well, and will even get better as time goes. Once you sell those "shares" back to the market, hopefully, you will end up with a profit.

In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to other countries' economies.

By the time you graduate from this School of Pipsology, you'll be eager to start working with currencies.

 Major Currencies

 

Symbol	Cuntry	Currency	NickName
USD	United States	Doller	Buck
EUR	Euro Zone Members	Euro	Fiber
JPY	Japan	Yen	Yen
GBP	Great Britain	Pound	Cable
CHF	Switzerland	Franc	Swissy
CAD	Canada	Doller	Lonie
AUD	Australia	Dollar	Aussie
NZD	Newzland	Dollar	kiwi

 

 

 

 

 

Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country's currency.

 

For Example,

Take NZD for instance. NZ stands for New Zealand, while D stands for dollar.

 

Currencies Are Traded in Pairs

Forex trading is the simultaneous buying of one currency and selling another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the euro and the U.S. dollar (EUR/USD) or the British pound and the Japanese yen (GBP/JPY).

 

When you trade in the forex market, you buy or sell in currency pairs.

 

Imagine each pair constantly in a "tug of war" with each currency on its own side of the rope. Exchange rates fluctuate based on which currency is stronger at the moment. 

 

Major Currency Pairs

The currency pairs listed below are considered the "majors". These pairs all contain the U.S. dollar (USD) on one side and are the most frequently traded. The majors are the most liquid and widely traded currency pairs in the world. 

 

Pair	Countries	FX Geek Speak
EUR/USD	Euro zone / United States	"euro dollar"
USD/JPY	United States / Japan	"dollar yen"
GBP/USD	United Kingdom / United States	"pound dollar"
USD/CHF	United States/ Switzerland	"dollar swissy"
USD/CAD	United States / Canada	"dollar loonie"
AUD/USD	Australia / United States	"aussie dollar"
NZD/USD	New Zealand / United States	"kiwi dollar"

 

 

Major Cross-Currency Pairs or Minor Currency Pairs

Currency pairs that don't contain the U.S. dollar (USD) are known as cross-currency pairs or simply as the "crosses." Major crosses are also known as "minors." The most actively traded crosses are derived from the three major non-USD currencies: EUR, JPY, and GBP.

 

Euro Crosses 

Pair	Countries	FX Geek Speak
EUR/CHF	Euro zone / Switzerland	"euro swissy"
EUR/GBP	Euro zone / United Kingdom	"euro pound"
EUR/CAD	Euro zone / Canada	"euro loonie"
EUR/AUD	Euro zone / Australia	"euro aussie"
EUR/NZD	Euro zone / New Zealand	"euro kiwi"

Yen Crosses

Pair	Countries	FX Geek Speak
EUR/JPY	Euro zone / Japan	"euro yen" or "yuppy"
GBP/JPY	United Kingdom / Japan	"pound yen" or "guppy"
CHF/JPY	Switzerland / Japan	"swissy yen"
CAD/JPY	Canada / Japan	"loonie yen"
AUD/JPY	Australia / Japan	"aussie yen"
NZD/JPY	New Zealand / Japan	"kiwi yen"

Pound Crosses

Pair	Countries	FX Geek Speak
GBP/CHF	United Kingdom / Switzerland	"pound swissy"
GBP/AUD	United Kingdom / Australia	"pound aussie"
GBP/CAD	United Kingdom / Canada	"pound loonie"
GBP/NZD	United Kingdom / New Zealand	"pound kiwi"

Other Crosses

Pair	Countries	FX Geek Speak
AUD/CHF	Australia / Switzerland	"aussie swissy"
AUD/CAD	Australia / Canada	"aussie loonie"
AUD/NZD	Australia / New Zealand	"aussie kiwi"
CAD/CHF	Canada / Switzerland	"loonie swissy"
NZD/CHF	New Zealand / Switzerland	"kiwi swissy"
NZD/CAD	New Zealand / Canada	"kiwi loonie"

 

The Dollar is King

You've probably noticed how often we keep mentioning the U.S. dollar (USD). If the USD is one half of every major currency pair, and the majors comprise 75% of all trades, then it's a must to pay attention to the U.S. dollar. The USD is king!