The global foreign exchange market is the largest and most liquid market in the world.

A few facts about the FX market:
  • The FX market is open 24 hours a day, 5 days a week.
  • The FX market is decentralised. This means that there is no central market place for currency exchange and trade is conducted over the counter.
  • Being decentralised, the FX market does not offer one single price for a currency. Currency prices vary, since you can get quotes from different liquidity providers.
  • The seven largest FX trading centres in the world are London, New York, Singapore, Tokyo, Hong Kong, Zurich and Sydney.
  • The average trade volume reaches $5 trillion a day, out of which an approximate $1.5 trillion is traded by retail traders in the spot market.
  • The FX market includes all world currencies.
  • Any person, firm or country can participate in the FX market.
Did you know?

Many consider the year 1880 A.D. to mark the beginning of modern foreign exchange. The reason for this is that it was during this year that the gold standard was first introduced.

Word of the day
"Economic Report" - The publication of key data on the health of a country’s economy. Economic Reports are also known as Economic Releases.
Pro Tip

Do not open a real account before doing some demo-trading.