What is forex

The forex market is open 24 hours a day, five days a week, except for holidays, what is forex currencies are traded worldwide. The forex is the largest market in the world in terms of the total cash value traded, and any person, firm or country may participate in this market. The term foreign exchange is usually abbreviated as “forex” and occasionally as “FX. The global foreign exchange market is the largest and the most liquid financial market in the world, with average daily volumes in the trillions of dollars.

Forex transactions take place on either a spot or a forward basis. Just How Large Is the Forex Market? The forex market is unique for several reasons, mainly because of its size. Trading volume is generally very large. The world’s largest trading centers can be found in London, New York, Singapore and Tokyo. The market is open 24 hours a day, five days a week across major financial centers across the globe. This means that you can buy or sell currencies at any time during the day.

The foreign exchange market isn’t exactly a one-stop shop. There are a whole variety of different avenues that an investor can go through in order to execute forex trades. From a historic standpoint, foreign exchange was once a concept for governments, large companies and hedge funds. But in today’s world, trading currencies is as easy as a click of a mouse — accessibility is not an issue, which means anyone can do it. When trading in the forex market, you’re buying or selling the currency of a particular country. But there’s no physical exchange of money from one party to another.