Forex trade is a trade that involves buying and selling foreign currency. This is the kind of trade market that is heavily traded these days. Forex trade is loved by many because one doesn’t need to have huge sums of money or much capital for them to trade. When you exchange your currency with a foreign currency, you are simply doing forex trading.
The currency pair primer
Before you get started with forex trading Singapore, it is very important to learn about the significance of currency pairs and what they are. There is no way that you can trade with a single currency in the forex market. This is because the market or the trade was designed for the currencies to trade in pairs. When you exchange euros for US dollars, there are two currencies in the trade. To trade, you will compare the value of one currency to the other.
To understand forex trade, you will have to know about terminologies that describe the value of different currency pairs. Once you know the terminologies and understand how you can do your calculations, you will be able to do your calculations.