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Author: Subject: What is the forex market?
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[*] posted on 23-1-2017 at 12:00 AM
What is the forex market?

The forex market is the world’s most exciting and dynamic market. With $4 trillion traded every day, it is also the largest financial market in the world.

Forex (or FX) stands for ‘foreign exchange’ which a traveller will know as the currency that you buy when visiting another country. For example, you may sell euros and buy dollars for your trip to the USA. The online forex market is, however, 90% speculative, which means that you don’t take possession of the actual, physical currency. Rather, you open and close deals and make either a profit or loss which gets reflected in your online account.

The forex market is an over-the-counter (or OTC) market which means that trading takes place directly between two parties without dealing through an exchange. This means you can conveniently access the virtual market online anywhere in the world
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