Forex Trading: A Beginners Guide
Forex, foreign exchange, FX or currency trading, is a decentralized global market where all the world's currencies trade. The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another. World trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world. Currencies trade against each other as exchange rate pairs.
Forex Trading: A Beginners Guide
Forex Trading: A Beginners Guide
FOREX MARKET
The foreign exchange market is where currencies are traded. If you've ever traveled overseas, you've made a forex transaction. One unique aspect of this international market is that there is no central marketplace for foreign exchange. When you convert your pounds into euros the forex exchange rate is between the two currencies. Supply and demand of the currency then determines how many euros you get for your pounds. Currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week.The average daily trading volume of the currency exchange markets exceeds $5 trillion.