Forex Homework Answers Given the Right Edge by Experts
You have heard the word Forex a number of times but when it comes to approaching the Forex homework answers are you bowled out? Well, there is nothing to worry with myhomeworkhelp.com by your side. We can drive away all your worries related to Forex assignments.
What is Forex- We simplify it for you
Forex or FX stands for Foreign Exchange. It is a global market, completely decentralized, where all the world’s currencies trade against each other; for example, the Indian Rupee (INR) against US Dollar (USD). It is the most liquid financial market where currencies worth of $4 trillion are exchanged every day. The transactions happen electronically over-the-counter, round-the-clock, 24 hours of 5 days a week.
Forex Trading is much easier with seamless boundaries when compared to the stock exchange. While it was once dominated by corporations, central banks, large financial institutions and extremely wealthy people, today even a common person can be a part of this market, thanks to internet and rise of numbers of exchanges.
An example for you to understand
The trading process includes 2 currencies and is done through an intermediary broker. Say you want to trade Indian Rupee for US Dollar. INR would be the base, while USD will be the counter. To buy one USD, you will have to shell out the amount that’s quoted on the exchange. Currently, one USD costs Rs 64. Once you bought your new currency, you wait for its value to rise. And when it reaches a certain level that’s leaving you a decent profit, you sell it through your brokerage account.
Why Forex tends to be a complex topic?
On the exchange, you will find 2 price quotes; one is buying price and other is selling price. The difference between them is the spread. Once you buy a currency, for a profit, you have to wait for the least till the market movements cover this spread and the selling price is more than the price at which you purchased your currency.
Of course, things aren’t this simpler. Forex market is one of the least volatile, where most currency pairs move less than one cent on regular days. However, decentralization and higher liquidity make the market a holy grail for long-term investors with higher leverage. Our experts can write Forex assignment answers with ease no matter what is the task in hand.
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