Forex Trading refers to trading in the foreign exchange market and the primary objective is to make a profit by exchanging currencies at an agreed price.

Forex Traders seek to profit from the change in value of one currency against another, basing their decisions on which way they believe Forex prices will change in the future.

All currencies are quoted in pairs on the global Forex Market, ie AUD/USD, GBP/EUR and so on.

To place a trade, all you have to do is choose a platform and select whether you want to buy or sell a particular pair and the amount of your transaction.

Forex markets are quite accessible with many open 24 hours a day during the week and this means that foreign exchange prices are constantly going up and down and there are plenty of opportunities for traders.

Also, because Forex is a leveraged product, investors can trade on the market with a small initial outlay.

To place a trade, you only need to spend a small percentage of the full value of your position, so there is a greater potential for profit but also means there is a greater risk of suffering a loss.

As with any investment, make yourself fully aware of the fees and charges before you begin trading.

Compare the margin that you will be required to meet in order to make a trade with a range of different providers as this will affect the amount of money you will need to buy or sell Forex.

Most providers will charge a commission for every trade you make and also take into account, the differences between the buy and sell prices for each currency pair.

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