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Forex trading involves exchanging one currency for another to make a profit. Imagine you're planning a trip to Europe and need to convert your dollars into euros. The rate at which you'll exchange these currencies is determined in the Forex market. Unlike stock markets, Forex operates 24 hours a day, five days a week, allowing you to trade at your convenience. It's a decentralized market, meaning there's no central exchange; instead, trading occurs through networks of banks, brokers, and financial institutions.
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