How The Forex Market Works

Forex Market Explained

The Foreign Exchange Market (forex) is the world’s largest financial market with daily trading volume exceeding trillions of dollars. The forex market includes the trading between large banks, central banks, currency spectators, multinational corporations, governments, and other financial markets and institutions. How does the Forex Market work? Forex trading involves trading of a single currency for another currency at a decided trade price on the over-the-counter (OTC) marketplace. Each currency is commonly given a three-letter symbol (e.g. USD) and are traded in pairs such as the EURUSD, GBPUSD, USDJPY, etc. A currency pair usually depicts a quotation of the two …READ MORE