Currency trading is buying or selling currency pairs in the foreign exchange market at a specific exchange rate. The forex market is one of the largest and most liquid markets in the world, reaching a daily turnover of $6.6 trillion in 2019.In its simplest form, if you travel internationally, you might already have engaged in currency trading. Before you travel to, say, Canada from the United States, you might exchange your American dollars for Canadian dollars. You use American money to buy Canadian money. Depending on the foreign exchange rate at the time, you might be able to secure $1.26 Canadian (CAD) in exchange for $1.00 USD. Of course, this exchange rate constantly fluctuates. This is where currency trading, as an investment, comes in.

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Definition and Examples of Currency Trading

If you trade currency, you’ll do it on the foreign currency exchange or Forex market. As with the travel example, you use one country’s currency to buy the currency of another country. You buy and sell currency on the basis of the direction you think each currency will trend in relation with one another.

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