The currency market is a global network of banks and brokers that operates 24 hours a day. It has a large turnover and is highly liquid with ample supply for any size trade. The currencies traded on the market change hands in trillions of dollars every day. This is the largest single market on the planet.
Currency trading is not illegal. While the practice is legal, the country where the firm is based matters when deciding whether to trade with a broker. Brokers in developed countries are more regulated and have a greater level of oversight. For example, the Securities and Exchange Commission (SEC) regulates brokers in the U.S.
There are a number of Forex trading books available for beginners. These guides are designed to teach the fundamentals of currency trading in a simple, straightforward manner. They will teach you how to use price quotes, price trends, and market cycles to make more money. You can also use practice accounts to test your skills and intuition.
The Forex market is highly volatile and can change rapidly. This can be a good or bad thing for a trader. However, to be successful in forex trading, you must have a good amount of experience and knowledge. In addition, you need to keep your costs to a minimum.