Choose Forex Or Money Changer?

Choose Forex Or Money Changer?

Many people are starting to develop the foreign exchange trading business as a promising business opportunity. This is a fertile field for the foreign exchange trading business which will be more attractive to the public as it is more flexible when it comes to exchanging both quantity and queues. Forex is an acronym for Foreign Exchange which means the exchange of foreign currency. The basic principles of Forex are not much different from conventional money changers whose way of working has been explained in the illustration above. The media is the only difference between Forex and the old money changer. Transactions on Forex only require a special application program connected to an internet connection. You just have to press ‘Sell’ to sell and ‘Buy’ to buy and your transaction will run more easily. The advantage that you get from a business using Forex is an advantage in using your intelligence and tactics in analyzing currencies with the system that has been provided. This business is also known as an anti-bankrupt business because it involves the world economy with a daily turnover of more than USD 2 trillion.

We don’t need to bother filling our wallets with dollar bills like we would if we were going to change money to a money changer. When forex trading is still carried out over the phone, what will be recorded later is proof of the transaction called quotes or dealing quotes (DQ). But now it’s the internet. Thus, currency sales in the forex business are carried out online. Simply register with a forex trading platform provider called a broker, then click! All details of our forex transactions are recorded online. The base currency or base currency in forex trading is the US Dollar (USD). So, if anyone is hoping to find news about Indonesian Rupiah trading for Dollars, then be aware that this will very rarely happen.

Some money changers have a non-cash payment system, namely transfers using a debit card. However, in practice, there are still many money changers who only accept cash. For sudden money exchange needs, you can look for money changers at airports both at home and abroad. However, usually, the exchange rate will be more expensive.

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