Foreign Exchange (Forex)
The Foreign Exchange Market, also known as Forex, FX, or Currency Market is a global decentralized network of financial market where foreign currency and other related products is bought and sold.
Market Size & Participants
The foreign exchange market is the largest and most liquid financial market in the world. Participants in the foreign exchange market include banks (large and small), central banks, currency speculators, corporations, governments, and other financial institutions. The estimated daily trading turnover in the foreign exchange markets is over US$3.98 trillion according to figures released in April 2010 by the Bank for International Settlements
Forex trading possible around the clock as the forex market remains open continuously except Saturday and Sunday.
The four largest foreign exchange centers in the world are London, New York, Tokyo and Singapore. Usually Forex trading is brisk in North America mornings, i.e. afternoons in Europe due to both markets being open at the same time and due to new US economic data releases.
There are a wide range of instruments traded under the foreign exchange market and they are categorized under two main categories, Forex Currency Pairs and Spot Precious Metals.
The majority of Forex transactions are made in five major currencies: the US Dollar, the Euro, the British Pound, the Japanese Yen and the Swiss Franc. Gold spot precious metal trading is another trading favorite. The greatest number of forex trades is made against the US Dollar.
For a complete list of Foreign Exchange products available for trading at Windsor Brokers Ltd., please refer to the listing below.