The Foreign Exchange market is one of the most popular ones and it’s growing rapidly every year. Before electronic trading became commonplace currency trading was accessible only to large financial institutions, corporations, banks, hedge funds and extremely wealthy individuals. The Internet changed all that and now it’s possible for anyone to trade Forex with one mouse click through online brokerage accounts. Online forex trading never sleeps and goes on all around the world 24 hours per day, 5 days a week.
Forex market is more of a speculative market, with no physical exchange of currencies ever taking place, unlike for stocks or futures. All members trade based on credit agreements without clearing houses to guarantee the trades or arbitration panels to adjudicate disputes. The purpose of Forex trading is to buy or sell some currency with the goal of making profits through future purchases or sales. Forex traders analyze charts thoroughly in order to catch the right moment for a deal. Technical analysis of historical data is done with the help of popular analytical indicators and drawing tools, which are available directly from TradingView charts.