Forexify.org is Pakistan’s leading Forex website which provides you live Forex updates, Forex currency exchange rates in Pakistan.
How Forex Works
The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.
Why Trade Currencies?
Forex is the world’s largest market, with about 3.2 trillion US dollars in daily volume and 24-hour market action.Some key differences between Forex and Equities markets are: Many firms don’t charge commissions – you pay only the bid/ask spreads.There’s 24 hour trading – you dictate when to trade and how to trade.You can trade on leverage, but this can magnify potential gains and losses. You can focus on picking from a few currencies rather than from 5000 stocks.Forex is accessible – you don’t need a lot of money to get started.