Archive for September 2008
How the forex market works
The forex market (or foreign exchange) is essentially where the currencies of all the different countries (including gold and silver) are traded.
For example: you could buy Japanese Yen with United Kingdom Pounds or sell Russian Rubles for Swedish Kroners.
Essentially, it’s just the trading of one currency for another.
Needless to say, when you trade currencies like this, you don’t have to purchase or sell anything physical – you trade and sell with your own base currency and any currency pair you desire.
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Tags: A Definition of Forex
When we use the term forex, we are basically referring to currency trading. In many cases, this currency trading is also referred to as the foreign exchange, Forex, FX or market.
This market is bar none the largest and quickest growing market in the world today
The daily trade volume across the globe is more than 2.5 trillion dollars.
Who are the main participants in this market? Central and commercial banks, corporations, institutional investors, hedge funds, and regular everyday people.