The foreign exchange market is a place where everyone can trade almost all currencies from all over the globe. The vast majority of daily transactions are completed on bigger scales between the banks around the world. Only a quarter of all trades are done by individual retail traders.
Individual forex trading, including futures and options, are traded on a few foreign exchange centers in New York, London and Tokyo. The forex market is the largest financial market in the world and has daily transaction turnover of USD 1.5 billion. That would equal around twenty days worth of trading on New York stock exchange market.
Fore has no specific location. Thanks to modern technology, traders are able to complete transactions over the phone or internet or other electronic ways. This is why trading got a name OTC (over the counter).Forex exchange market stays opened 24 hours a day from Monday to Friday and trades continuously between Europe, America and Asia .While one market closes another opens keeping the money floating with no problem or hold up.
The main world's currencies including American dollar, Japanese yen, British pound, Swiss franc, Canadian, New Zealand and Australian dollar cover almost 85% of the whole market's turnover. All of transactions are completed by Commercial banks, Central banks and exchange brokers. More than half of them are done between Commercial Banks and they are the largest investor s in foreign exchange. The rest is spread out between individual brokers and central banks. Brokers allow access to forex investment for smaller local banks and also individual investors. Central banks use currency trading to stimulate the level of national currency flow and economic conditions.
Very dynamic development of foreign exchange market combined with technology boom of the last decade, the forex exchange market has become an excellent source of income for many individuals interested in investing their Capital and seeking fast and substantial returns. Thanks to wide brokerage offers and easy access to internet people these days can trade forex with no hassle and stay up to date with most recent information and forex events.
There are many forex related websites available over internet where traders can obtain any information, updates, support and advice on how to trade currencies. The forex market is considered quite stable, safe and easy to understand to compare with stock exchange market for example.Trading currencies was never easier than it is now with all the tools available from your local brokers. With specific strategies like stop loss and limit orders, people have no need to spend all day in front of their PC and watch currencies moving. Now we can place our orders and enjoy making money from global financial markets.
All we need is a little knowledge about the subject and internet connection to be part of world's biggest financial market. However before you start to trade, make sure that you are equipped with all possible tools well thought approach to trading as it will take effort to succeed. Remember that it is as good place to lose money as it is to make it.
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