Forexmentor was initiated in 2003 by successful investor and an educator Peter Bain after being aware of the amount of the false information which was circulated regarding forex to new traders. Forexmentor uses a simple but effective mechanism which enables new traders to reap the profits of the market. Forexmentor is a team of experienced trainers all aimed at aspiring new traders who differ in skills. The Forexmentor team trains the potential candidates through the means of videos and live training services.
What is FOREX??
FOREX is short form of Foreign Exchange. FOREX refers to the exchange of a currency to a different foreign currency. A lot of factors are involved in this; one of the key factors would be the exchange rate. Now let me explain what an exchange rate is. An exchange rate is the rate at which a currency is traded for another. This keeps on fluctuating which makes it a challenge to predict its movement. The fluctuations are caused by many factors which make it highly unpredictable.
What is FOREX Market??
FOREX Market if put in simple words is the place where the currencies are traded to one another. FOREX market is the biggest financial market which records a whopping $ 4 trillion daily in value of transactions. The working of the FOREX market is similar to the working of any financial market i.e., it involves brokers who play the role of intermediaries through whom all the transactions are forwarded. The main players of the FOREX market are the large international banks. Electronic Broking Service (EBS) and Reuters 3000 Xtra are the two interbank FOREX trading platforms.