what is forex: what is forex

Forex means Foreign Exchange Market and it is a global market where world currencies can be traded against its other. Forex Market is huge with daily volumes of about 4 trillion dollars. The Forex Currencies fluctuate according to actual monetary flows but additionally according to anticipations about global economic conditions.

Forex Market Participants

Forex market incorporates many different types of participants, the most important are:

1. Central and Commercial Banks

2. International Trade Companies

3. Forex Brokerage Companies (Forex Brokers like ECN and STP brokers)

4. Large, Medium and Small Institutional Investors (i.e. Investment Companies, Hedge Funds etc)

5. Common Retail Traders

6. World Travelers

Forex Sessions

There are 3 main trading periods:

1) New York Trading Session

2) London Trading Session

3) Tokyo Trading Session

Forex Market Trading Hours

The Forex market is an OTC (Over-The-Counter) Interbank market open for 24 hours a day. The Forex market opens at 21:00 GMT on Sunday and closes on Friday at 21:00 GMT.

what is forex

Forex Market Participants

Forex Market Trading Hours

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