Forex” stands for foreign exchange; also known as FX. By their very nature currencies are bought and sold in pairs like the Euro-US dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). The theory behind this is currencies are measured by comparing them to another currency. So, when trading you buy one currency and sell the other in the pair at the same time. I essence, you’re exchanging the sold currency for the one you’re buying. But don’t worry, your forexgen broker figures al that out at the time of your trade.
currency trading in its current form began around 1971 when the U.S. Dollar came off the gold standard. The Smithsonian and European Joint Float agreement collapsed in 1973 and a free-floating currency market began to emerge. The currency market became available worldwide as technology developed.
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