The forex market operates 24 hours a day, five days a week. It opens on Sunday evening and closes on Friday evening (UTC time).

Major currency pairs include EUR/USD, GBP/USD, and USD/JPY. These pairs involve the most widely traded currencies and have high liquidity.

Consider factors like regulation, trading platforms, fees, customer support, and available currency pairs. Look for a reputable broker with transparent practices and competitive spreads.

Fundamental factors such as economic data, central bank policies, geopolitical events, and market sentiment influence currency prices. Technical analysis also plays a role in identifying trends and patterns.

Forex trading involves speculating on the price movements of currency pairs. Traders use online platforms provided by forex brokers to execute buy or sell orders. Profits are made by correctly predicting currency price movements.

Forex (foreign exchange) refers to the global marketplace where currencies are traded. It involves buying one currency while simultaneously selling another, aiming to profit from changes in exchange rates.

Leverage allows traders to control larger positions with a smaller amount of capital. However, it also increases risk. Understanding leverage is crucial for successful forex trading.

Risk management involves setting stop-loss orders, diversifying your trades, and not risking more than a certain percentage of your account balance on a single trade.

Costs include spreads (the difference between bid and ask prices), commissions (if applicable), and overnight financing fees (swap rates).

Yes, forex trading carries inherent risks due to market volatility, leverage, and geopolitical events. Proper risk management and education are essential for minimizing risks.