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?

Have you ever heard of Monte Dei Paschi di Siena? Founded in 1472 in Tuscany, Italy, it is considered to be the world’s first actual bank and is still in operation today.

Word of the day
"Chicago Board of Trade (CBOT)" - Established in 1848, the Chicago Board of Trade is the oldest futures and options exchange in the world.
Pro Tip

Always keep an eye on broker reviews.

UP