FOREX market is about buying and selling world currencies. The main idea is 'buy cheaper - sell higher'. You open positions (called 'long' if you buy and 'short' if you sell) for a chosen currency pair (i.e. EUR/USD, USD/JPY) - meaning your are buying/selling the rated currency. You can close your position anytime, whether it is in profit or loss.

To trade on FOREX you need to open a special margin account at any FOREX-broker company. Money in this account is used as a margin for your trades. Usually brokers allow a leverage for your margin. I.e. leverage 1:100 would mean that you need only $1 to open a $100 position.

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