Forex trading, or foreign exchange trading, is the practice of buying one currency while selling another in an attempt to profit from price changes. Here are some things to know about forex trading: 

• How it works

  Traders buy and sell currencies in pairs, such as EUR/USD or GBP/USD. The price of a pair is how much one unit of the base currency is worth in the quote currency. 

• What's traded

  Forex is traded on the forex market, which is open 24 hours a day, five days a week. The market is used by banks, businesses, investment firms, hedge funds, and retail traders. 

• Why it's popular

  The forex market is the world's largest and most liquid financial market, with an estimated daily turnover of over $6.5 trillion. The volatility of currency prices can create opportunities for traders, but it also increases the risk of loss. 

• How to get started

  To start trading forex, you can:
  1. Decide how you want to trade 
  2. Learn how the forex market works 
  3. Open a trading account 
  4. Build a trading plan 
  5. Choose a trading platform 
  6. Place your first position