Meaning of Forex Trading

 

The foreign exchange market (dubbed forex or FX) is the market for exchanging foreign currencies Forex is the largest market in the world and trades that happen in it affect everything from the price of clothing imported from one country to another.

What is Forex Trading?      

Foreign Exchange (forex or FX) is the trading of one currency or another. For example, one can swap the U.S. dollar for the euro. Foreign exchange transactions can take place on the foreign exchange market, also known as the forex market.

Currencies are traded in the foreign exchange market, a global market place that’s open 24 hours a day Monday through Friday. All forex trading is conducted over the counter (OTC), meaning there’s no physical exchange (as there is for stocks) and a global network of banks and other financial institutions oversee the market (instead of a central exchange, like the New York Stock Exchange