Most equipment can be enchanted to gain extra stats.
Selecting Enchanting from the Forging window at the Anvil opens the Enchanting Interface shown. Only items which can be enchanted from your inventory will appear on the left side. The Bat Cape has been moused over to show that info. You must add an item and a Scroll before you can Enchant. Failure destroys all materials used and does not give any exp. Success adds exp to Forging skill.
There are 4 different enchantment scroll types: Weapon, Jewelry, Armor and Wing and 4 tiers for each, Low, Medium, High, and Superior and all are drops from different Mobs including Bosses. Lower grades of enchants can also be combined at the Anvil to higher grades. Two different types may be combined at the Anvil into a third type: Med Armor + Med Jewelry = Med Weapon with a chance to fail.
To enchant something you need the item to be enchanted, the correct type of enchantment scroll and a Forging Hammer equipped. Click on the Anvil, click the scroll and item to be enchanted and select 'Make'. If unsuccessful all items are lost.
The success rate of enchanting an item varies, but in general low level gear has a higher success rate and as gear has a higher level, success of enchanting decreases.
Enchanting item Orb Of Luck adds 10% extra to success rate. You can add up to 3 orbs maximum for a total of an additional 30% success chance for enchantments. Orbs of Luck are loot drops from Bosses, purchased from other players in the Chest Market or purchased from the MOS Market - Buy items and coins - at bottom of game screen.