what is forex


what is forex
what is forex

what is forex – The foreign exchange market or abbreviated as forex is one type of trade or transaction that trades the currency of a country with the currency of other countries involving the main money markets in the world with a 24-hour continuous period.

what is forex

forex
forex

forex is when you are buying pound sterling (UK currency) but at the same time you are selling USD (US currency) when its value is high. Now for additional information, this activity is not only carried out by individuals, but also by large countries, multinational companies, central banks, and so on in a network known as the Forex Market. Forex trading law can be said to be halal and officially recognized because there is a certainty regarding the forms of transaction goods, processes, amounts, times, and many other things. This is contained in the DSN MUI fatwa No. 28/DSN-MUI/III/2002 concerning currency trading or Al-Sharf. The standard lot size for EURUSD is around 100,000 EUR. On Standard Accounts, the minimum trade size is 0.10 lots. 0.10 lots x 100,000 EUR = 10,000 EUR , For In forex pip is the unit used to measure price movement. One pip EURUSD is 0.0001. If you Buy EURUSD with lot size 0.10 (10,000 EUR) the users who do so will get 1 USD for every pip (0.0001) the EURUSD price moves up because 10,000 x 0.0001 = 1 USD.
If you Sell EURUSD with lot size 0.10 (10,000 EUR) then what happens you will get 1 USD for every pip (0.0001) the EURUSD price moves down because 10,000 x 0.0001 = 1 USD.

That’s a glimpse of information about forex that I can share with you all, if you all still have something you don’t understand and you still want to know you can leave it in the comments column below. Thank you for visiting, I as the author of this article, would like to apologize if in the article I made there were words that were less pleasing.