<ul data-eligibleForWebStory="true">Forex trading involves exchanging currencies with the aim of making a profit in the decentralized Forex market.Key aspects include trading currency pairs, market volatility, leverage, and the 24/5 market operation.Types of Forex trading encompass spot trading, forward trading, swing trading, scalping, and day trading.Benefits include high liquidity, potential for high returns, diversification, and accessibility.Risks and challenges exist in Forex trading that traders should be aware of.To start trading, choose a suitable broker, open a trading account, educate yourself, and develop a trading plan.