Foreign exchange is highly leveraged, contracts are large, and profits and losses fluctuate greatly. If you do well, you will naturally make a lot of money and lose money.

Speculation in foreign exchange is actually an exchange between currencies.

The foreign exchange market, also known as "foreign exchange" or "FX" market, is the largest financial market in the world, with an average daily transaction volume of 6 trillion US dollars, equivalent to 30 times of the sum of all securities markets in the United States.

To open a foreign exchange account, you need to consult the platform of international financial supervision and international foreign exchange dealers online. The conditions for opening an account are not high. Legal citizens who have reached the age of 18-65 can open an account by preparing their ID card information.

The process of opening a foreign exchange account is as follows:

1. Find an international foreign exchange dealer platform under the formal supervision of international financial regulators;

2. Prepare your ID card and email address, log in to official website, an international foreign exchange dealer, and register your account;

3. Download the trading software and wait for the account review;

4. Deposits, transactions and withdrawals.

Conditions for opening a foreign exchange account:

1, there is no capital threshold, and all funds can be traded in gold;

2. Legal citizens, 18 years old or above, but under 65 years old, can open an account;

3. Prepare personal information such as ID card and email address to open an account.

How to choose a regular platform?

1, choose an international financial regulatory agency for strict supervision and hold more than three regulatory agencies at the same time;

2. Handling fee is a factor that should be considered, but it is not the only factor. On the basis of ensuring formal supervision, choose a platform with relatively low handling fees;

3. Free deposit and withdrawal, no capital threshold, no phone calls and free trading;

4. The dealer platform should be operated for more than 10 years. The longer the time, the more reliable the platform will be. Be cautious about the newly established platform within three years.

External trading fluctuates greatly, so you must use your idle funds that do not affect your daily life to participate in the investment.

Pay attention to the light warehouse operation, stop the loss reasonably, do not chase up and kill down, and control the risk within your own risk tolerance.

definition

broad sense

All foreign currency assets owned by a country. It refers to the flow of money between countries and a specialized commercial activity of exchanging one country's currency for another country's currency to pay off international creditor's rights and debts. In fact, it is the creditor's rights held by the monetary management authorities (central bank, monetary management institutions, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds, long-term and short-term treasury bonds, etc. Can be used when the balance of payments is in deficit.

narrow sense

Various payment methods expressed in foreign currency, which are generally accepted by all countries and can be used for international settlement of creditor's rights and debts. It must have three characteristics: affordability (assets that must be expressed in foreign currency), availability (claims that can be compensated abroad) and convertibility (foreign currency assets that can be freely converted into other means of payment).

function

Promote the development of international economy and trade.

Adjust the surplus and deficiency of international funds.

It is an important part of a country's international reserves and the main means of payment to pay off international debts.