Foreign Exchange Market

Foreign exchange, or Forex, is the name used to describe the trading of the world's many currencies. It is the largest market in the world. More than $3 trillion US Dollars are traded every day in this market. Very little of the Forex market activity represents governments’ and companies fundamental currency conversion needs. The Forex is conducted on the “interbank” market, or an OTC (over the counter) market. Trading in the Forex takes place directly between the two counterparts necessary to make a trade. The Main centres for trading are Sydney, Tokyo, London, Fankfurt & New York. Since the centres are world wide, this means that the Forex market can be and is a 24-hr market....