Many people have heard of the term Forex but not that many actually know what it means. Forex stands for foreign exchange and basically mean trading one currency for another. For example, when you visit a foreign country as a tourist or want to invest in it, you will need to acquire a certain amount of local currency to conduct payments. The conversion of your home country’s currency into that of another’s makes you a participant in the Forex market.
Forex (FX) is the market in which currencies are traded. The forex market is the largest, most liquid market in the world, with average traded values that can be trillions of dollars per day. It includes all of the currencies in the world.
The Forex (FX) market is open 24 hours a day, 5 days a week with the most important world trading centers being located in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney.