Foreign exchange, also known as Forex or FX, is the market in which currencies are traded. The Forex market is the largest, most liquid financial market in the world, open 24 hours a day, five days a week. To put it into perspective, the New York Stock Exchange handles approximately $169 billion worth of transactions a day, while the Forex Market sees over a colossal $5 trillion worth of transactions a day.
F.A.Q
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Frequently
Asked Questions
Q.What is Forex? How can I start trading Forex?
Q.Which countries are forbidden?
USA, China, HongHong + FATF BlackList
Q.How does Forex trading work?
Forex is traded in currency pairs. Common currency pairs are the Euro/US Dollar, US Dollar/Japanese Yen, Great British Pound/US Dollar, and Canadian Dollar/US Dollar. You buy one currency and automatically sell another. The goal is to make a profit by buying and selling currencies as their value increases and decreases. There are many economic factors that contribute to currency movements which traders and dedicated analysts alike attempt to decipher.
Q.What are the trading hours for the Forex market?
The Forex market is open 24 hours a day, 5 days a week and currencies are traded worldwide among major financial centres. It opens on Sunday at 10:00 pm GMT, and closes on Friday at 10:00 pm GMT.
Q.Where is the central location of the Forex market?
Unlike the stock market, the Forex market is not tied to a central exchange. Transactions are conducted between two counterparts over the telephone or via an electronic network, therefore the Forex market is considered an Over-the-Counter (OTC) or 'Interbank' market.