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?

Papyri PCZ I 59021, which dates back to 259/8 B.C., shows the exchange of coinage in ancient Egypt.

Word of the day
"Dollar Index (USDX)" - A major market index, tracking the value of the U.S. dollar against a number of heavily traded currencies.
Pro Tip

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

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