How Does the Forex Market Work?
What Is Forex?
Global currencies are traded on the foreign exchange market, referred to as Forex. Buyers and sellers exchange currencies with one another through a network of banks, exchanges, and financial institutions. Traders, investors, consumers, businesses, and central banks are constantly participating in the Forex market which is widely known as the most liquid market with over $6 trillion traded daily.
The Forex market is facilitated in an over the counter (OTC) marketplace via financial institutions located all over the world.
The main trading centers for Forex are located in New York, London, Tokyo, and Sydney. Since the four centers are in different time zones, this allows trading 24 hours per day since there is always at least one market open at all times. Also, when two market sessions overlap, volatility is often increased as there is even more trading volume than usual. This can often provide many opportunities to capitalize on price fluctuations in the different currency pairs.
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