Forex, or FX, is a shortened term that describes the Foreign Exchange Market, a marketplace where the world's various currencies are traded. It is an interbank market which was created in 1971 when international trade transitioned from fixed to floating exchange rates. As a result of its incredible volume and fluidity, the FX market has become the largest and most significant financial market in the world.
Here are some unique characteristics that are the source of its success:
- Forex markets operate 24 hours a day
- Superior liquidity: the daily turnover of the FX market – over 4 Trillion Dollars – makes it easy to trade most currencies instantaneously
- You can profit from rising or falling markets
- You can benefit from leveraged trading with low margin requirements
- There are standard instruments available to help you control risk exposure
- Excellent Transparency: the Forex Market is transparent… you just need to keep yourself informed
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