Sinan Ezam has been involved in the Forex market since 2006 and has been in crypto for nearly three years
Sinan’s description of Forex and Crypto:
What is Forex?
Forex is a Latin term derived from the two words foreign interchange, which implies the exchange of foreign currencies. The simplest definition for the exchange of foreign currencies is that the conversion of one currency into another, many of which are employed to shop for and sell goods or services of companies and governments, travel and shopping expenses of tourists, or investments of people and corporations in the country is employed. Of course, most currency exchanges make a take advantage of the difference between the acquisition and sale price.
In the global currency exchange market, all banks (commercial, central and investment), large financial institutions, multinational corporations, traders, insurance companies, export and import companies, pension funds, speculators and individuals, currencies They trade different currencies like US dollars, Euros, Pounds, Yen, etc. Unlike most other financial markets, this market does not have a particular physical location, and banks, institutions, and traders trade one currency against another through the electronic network. Although the character of Forex trading is over the counter, the main foreign exchange trading centers are in London, New York, and Tokyo, respectively, and banks worldwide participate in these trades.
Forex trading is buying one currency and, at the same time, selling another currency. Currencies are traded through a trader or broker in pairs. For instance, Euro and USD (EUR / USD) or British pound and Japanese Yen (GBP / JPY). Forex trading is often summarized in two goals: 1. First, sell at a high rate, then buy at a low rate 2. First, invest at a low rate and sell at a high price.