Forex for Gamblers: Beginners Guide

• Trusted Forex Sites
• What is Leverage
• Basic Forex Lingo
• What is Forex

Forex gambling is appearing on more and more online gambling sites but for many traditional bettors it is a little unfamiliar, if not intimidating.

It does however have its own thrills and now that it's online the forex market has opened up to a broader range of traders. Rest assured that OCR is here to give you the basics.

What is Forex?

Forex is short for foreign exchange and is the trading of foreign currencies.

The values of currencies around the globe are constantly fluctuating so you are basically predicting the exchange rate at a stated future point in time. You then sell a currency you think will go down and buy one you think will go up.

In summary, forex trading is basically gambling that the markets will change as you predict.

Basic Forex Lingo

In foreign exchnage perhaps more than any other gambling activity, mainly for the technical know-how required from customers, a minimal acquaintance with the markets and the platform itself, terms are important to study and use too.

'Currency pairs' are the two currencies you are looking to trade.When you buy a currency you are referred to as being "long" in that currency. When you sell a currency you are "short" in it.

Beginners are recommended to stick with major currencies as they are the most commonly traded and tend to be more stable and therefore more predictable.

Leverage

'Leverage' is the term used to describe how much trading investors can purchase for their funds. Online casinos and sportsbooks may give you sign up offers but online forex sites give you credit! 'Leverage' is basically a loan based upon your account balance. Forex sites clearly indicate how much leverage is available to those playing the markets.

Example: An investor with $100 to trade with a stated leverage of 1:100 can trade $10,000. Higher leverage is usually awarded to those with lower funds.

Find out Trusted Sites

So there you have it - the basics of currency gambling for forex beginners. Many forex sites are very well set up for beginners and will help those who love the thrill of online casinos understand how to start off in forex gambling.

Check out OCRs Betting Exchange to see our recommended online forex sites, which include eToro and Betfair.