Frequently Asked Questions
Forex trading faces many questions, frequently asked by investors, fromthese questions what follows that will explain and answer most of questions.
1. What is currency trading on internet (Forex)?
Forex is exchanging foreign currency (selling it) by other currency (buying it) instead of it, For example: If you want to travel to any country for example America and you are Kuwaiti or Moroccan or Egyptian what will u spend in America? You will pay to buy the currency of the country which is USD, you will go to any money changer or bank in your country and give him your country currency to be changed by USD, now you are asking: what is the benefits for changing money for banks or money changers? That he will gain benefits from difference of prices between buying and selling, it means he will sell dollars for you by a price and buy it with lower price, and also for other currencies, Note this difference is very low just a few piaster, but it gives high profit in case of changing a large amount at once or change small amounts for several times.
2. Is Forex similar to Stock Exchange?
Yes Forex is similar to stock exchange, the only difference is specified in foreign currencies, and it doesn't include any other commodities as stock exchange.
3. What are the advantages of Forex trading?
First: Forex is a flexible mobile work (work from home – business – factory – vacation – travelling abroad). Second: Forex international market works 24 hours/5 days a week, you can take it as a second job beside your main job. Third: Forex is the market of wonderful opportunities for the ones who can get it, but you have to learn how to get them. Fourth: you already have the opportunities to learn (free books – lectures –forums – free experimental accounts). Fifth: you are not in need of a large capital to trade in Forex, that there are some banks gives you the opportunity to trade with a small amount of money start from 1$, and gives you 5$ gift for opening an account. Sixth: you can live with your income from Forex if you be professional and learn how to take right decisions (you can earn up to 200% of your capital monthly).
4. Does the experimental account differ from normal account?
For sure that human psyche of being hesitated or afraid or greed in sometimes can affect his profits or losses in this field, so in the experimental account you can sit calm and give the order of buying and selling without being concerned with the result of the transaction, and that is wrong, you have to deal with the experimental account as a real one to feel the atmosphere of real account.