Forex, or FX, is the global marketplace for trading currencies. It’s the world’s largest financial market, with over $7.5 trillion traded daily. Unlike stock exchanges, forex is a decentralized, over-the-counter (OTC) market where banks, brokers, and traders interact directly.
Key Points:
• Operates 24 hours a day, 5 days a week.
• Trading involves currency pairs (e.g., EUR/USD, USD/JPY).
• The market includes majors, minors, and exotic pairs.
• Forex is used by governments, corporations, banks, and retail traders.