FXMAG Team 08.11.2024
FXMAG Team 08.11.2024
With our currency converter you're able to check exchange rates of many currencies.
Forex is an abbrevation for Foreign Exchange. This market is decentralized and works 24/5. Forex contains trading of two assets - a pair of currencies or a pair of currency and a commodity or a precious metal. All of transactions are based on CFD.
CFD is an abbreviation for Contract For Difference. In a simplified way it means that you're not an owner of certain asset and transactions are based on the exchange difference.
We can distinguish forex major pairs, minor pairs and exotic currency pairs.
Forex major pairs are: EUR/USD (EUR To USD), USD/JPY (USD To JPY), GBP/USD (GBP To USD).
Forex minor pairs are: EUR/GBP (EUR To GBP), NZD/USD (NZD To USD), EUR/CHF (EUR To CHF), CAD/JPY (CAD To JPY).
Sample pairs: GBP To INR, JPY To USD, GBP To AUD, JPY To HKD, GBP To TRY, AUD To USD
follow European Central Bank (ECB), Federal Reserve (Fed) and Bank of England (BoE) decisions as they might affect exchange rates.
Get familiar to the terms of Technical Analysis and Fundamental Analysis.
Many of us wonders what to invest in. Have a look at Forex section, but have in mind, that FXMAG.COM isn't only about currencies. You're welcomed to visit Crypto, Stock Markets and Gaming sections to discover many ways of investing.
Do you want to invest in gold and silver? There's a Precious Metals section waiting for you!
For those considering real estate investing, have a look at this section.
Modern investors might want to invest in Bitcoin, Ether, other Altcoins or invest in Amazon, but markets are so diversed nowadays. There are a lot of stocks to buy.
Investing money? You're surely familiar to terms like inflation. Watch CPI, PPI and other indicators to make proper decisions. ECB, Fed or other national banks' decisions of e.g. tightening monetary policy can affect currencies, precious metals and other instruments. Having that in mind, we should watch interest rates.
Important financial terms:
Trend Lines, Bull Market, Bear Market, All Time High (ATH), Fluctuation, Candlesticks.
Tesla (TSLA), Solana (SOL), Apple (APPL), Altcoins
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