is forex
Foreign Exchange (FOREX) is the arena
where a nation's currency is exchanged for
that of another. The foreign exchange market
is the largest financial market in the world,
with the equivalent of over $1.9 trillion
changing hands daily; more than three times
the aggregate amount of the US Equity and
Treasury markets combined. Unlike other
financial markets, the Forex market has no
physical location and no central exchange
(off-exchange). It operates through a global
network of banks, corporations and individuals
trading one currency for another. The lack of
a physical exchange enables the Forex market
to operate on a 24-hour basis, spanning from
one zone to another in all the major financial
centers.
is forex
Traditionally, retail investors' only means of
gaining access to the foreign exchange market
was through banks that transacted large
amounts of currencies for commercial and
investment purposes. Trading volume has
increased rapidly over time, especially after
exchange rates were allowed to float freely in
1971. Today, importers and exporters,
international portfolio managers, multinationa
l corporations, speculators, day traders,
long-term holders and hedge funds all use th
e FOREX market to pay for goods and
services, transact in financial assets or to
reduce the risk of currency movements by
hedging their exposure in other markets.
is forex
is forex
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