The foreign exchange market (forex) or (fx) is a global market for the trading of currencies,This market simply is the exchange of one for another at an agreed exchange price on the over-the-counter. Forex is the world’s most traded market, with an average turnover in excess of US$4.9 trillion per day
If we look the New York Stock Exchange, which has a daily turnover of around US$50 billion and it’s easy to see how the foreign exchange market is the biggest financial market in the world
Essentially, forex trading is the act of simultaneously buying one currency while selling another, primarily for the purpose of speculation. Currency values rise "appreciate" and fall "depreciate" against each other due to a number of factors including economics and geopolitics .the primary goal of forex traders is to make profits from these changes in the value of one currency against another
Unlike most financial markets, forex market has no physical location or central exchange and trades 24 hours a day through a global network of businesses, banks and individuals. This means that currency prices are constantly fluctuating in value against each other, offering multiple trading opportunities
One of the great features behind forex’s popularity is that forex markets are open 24 hours a day from Sunday evening to Friday night. Trading follows the clock, opening on Monday morning in New Zealand, progressing to Asian trade spearheaded out of Tokyo , Japan and Singapore, before moving to London and closing on Friday evening in New York
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