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?

The GBP/USD pair is widely referred to as “cable”. The term dates back to the 19th century, during which the exchange rate between the U.S. dollar and the British Pound was transmitted across the Atlantic via a huge cable that ran across the ocean floor and connected the two countries.

Word of the day
"Chart Pattern" - A specific formalised shape, created by an asset’s ever-changing price, indicating potential future price movement.
Pro Tip

Always have an exit strategy.

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