What is forex?
The Foreign Exchange market, also referred to as the “Forex” or “FX” market, is the largest financial market in the world, with a daily average turnover of approximately US$1.5 trillion. Forex trading is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Pound/Franc.
Forex (Forex currency exchange, Foreign Exchange) is simultaneous purchase and sale of the currency or the exchange of one country’s currency for the one of another country. The world currencies do not have a fixed exchange rate and are always fluctuating, since each are traded in the currency pairs like Euro/Dollar, Dollar/Yen and others.Forex Affiliate
• The Foreign Exchange market, also referred to as the “FOREX” or “Forex” or “Retail forex” or “FX” or “Spot FX” or just “Spot” is the largest financial market in the world, with a volume of about $2 trillion a day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined! Forex rocks!.
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The foreign exchange market, or Forex market as it is known, is the largest financial market in the world. With an estimated daily trading volume of 3 trillion U.S. dollars it is several times larger than all of the U.S. stock markets combined. Trading on the Forex market takes place when one currency is bought while another is simultaneously sold. The currencies are traded and quoted in pairs such as Euro/U.S. Dollar or U.S. Dollar/Japanese Yen. There are millions of participants trading on the market daily. This large volume ensures that one player is not able to directly sway the direction of the market. A major advantage of the Forex Market, as opposed to the stock market or other financial markets, stems from the fact that it is a continuous global market. Currencies are traded electronically at several locations around the globe 24 hours a day, from Sunday evening to Friday evening. This allows a trader to immediately react to any events and new developments.
