The foreign exchange market, also known as FOREX, FX, or Spot FX is the world’s largest financial market with a daily volume of over $2 trillion. It’s a 24 hrs market where the world’s currencies are traded. The forex trading is not centralized on an exchange but is traded within a network of banks electronically or over the phone, therefore forex is considered an over the counter (OTC) or Interbank market.

Until late 1990s forex was only traded buy countries, banks, large institutions or ‘the rich’, and it was not accessible to the regular day trader. But that changed now, mostly thanks to the internet and new technologies, and everyone with an internet access can trade forex.

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What is traded in forex or
When to trade forex