Forex brokers in North Macedonia

Forex trading, also known as foreign exchange trading, is the act of buying and selling currencies on the foreign exchange market. In North Macedonia, forex trading is legal and regulated by the Securities and Exchange Commission of North Macedonia (SECOM).

Traders in North Macedonia can access the forex market through a variety of online platforms and brokerages. They can trade major currencies such as the US dollar, euro, and British pound, as well as other popular currencies like the Japanese yen and Swiss franc.

The forex market is highly liquid and offers traders some opportunities, but it also carries a high level of risk. As such, traders in North Macedonia are advised to educate themselves about the market and to use risk management strategies to mitigate potential losses.

In addition to SECOM, the Central Bank of North Macedonia also plays a role in regulating the forex market in the country by setting monetary policy and controlling the money supply.

Overall, forex trading is a popular and viable investment option for traders in North Macedonia, but it is important to approach it with caution and proper education.

What is Forex?

Forex is a shortened term used for "FOReign EXchange" (commonly known as FX), it is typically used to describe the process of buying and selling currencies. Forex is a global market for the trading of currencies, it is the largest market in the world, opened 24 hours a day from Sunday evening until Friday night. Forex is also the most liquid financial market, there is a huge trading volume: each day, more than 5 trillion dollars are exchanged, there are always a lot of trades.

Forex trading

Currency values rise and fall against each other due to a number of economic, technical and geopolitical factors. The common goal of forex trading is to profit from these changes in the value of one currency against another. All forex pairs are quoted in terms of one currency versus another, Forex trading is the act of simultaneously buying one currency while selling another. Each currency pair has a "base" currency and a "counter" currency. The base currency is the currency on the left of the currency pair and the counter currency is on the right. For example, in EUR/USD, EUR is the "base" currency and USD the "counter" currency. A forex trader will buy a currency pair if he expects its exchange rate will rise in the future and sell a currency pair if he expects its exchange rate will fall in the future.

What is a broker?

Traders must conduct their trading activities through a forex broker. A broker acts as an intermediary between the buyer and the seller involved in a forex transaction. They provide trading platforms that allow traders to buy and sell foreign currencies. Traders have to take the time to research and compare options to find the broker that best fits their needs.