The Forex Market is a decentralized OTC (Over-the-Counter) financial market operating 24 hours per day (Monday-Friday) using the electronic network of banks (ECN). It is estimated that the Forex turnover today may exceed 5 trillion dollars per day.
What is Forex Trading
Forex or else FORex EXchange is an electronic network that enables the exchange of global currencies, one for another. Currency pairs are exchange mechanisms used for the global trading of goods and services. Importers and exporters, large corporations, investors, and banks are only some of the participants in the Forex Market. The Forex market operates like the internet, it is not centralized, and it exists in the electronic network of banks, which is called the ECN network. Forex is a huge market with a daily activity turnover worth more than 4 trillion USD. The Rules of the game in Forex are different from those in equity and bond markets, but many similarities can be found too.