What is Forex Market

Updated September 09, 2021

The Forex market is the most interesting financial market in the world. It is one of the few markets whose sheer size makes it almost impossible for any one person, institution or government to control. Unlike other financial markets, Forex is not centralized.

Forex is the largest financial market in the world, open 24 hours a day from Monday to Friday and it records trading volumes of more than $3.5 trillion per day. The sheer volume of Forex trading - three times that of all US financial markets combined - makes the foreign exchange market the most liquid in the world.

When trading forex, all your trades will always be executed immediately, as the foreign exchange market has huge liquidity. In the Forex market, the transactions that are undertaken are necessary because large institutions, governments, businesses and individuals need foreign currency to buy and sell goods and service. The foreign exchange market allows fund managers, banks, companies and individuals to buy and sell foreign exchange globally.

Forex used to be an interbank market. It was generally conducted between large financial corporations, brokers and even governments. The market has now moved to such a state that anyone can participate. And this opened up the opportunity for private traders with small deposits to start online trading in the foreign exchange market. However, forex prices still come from the largest market participants based in financial centers such as London and New York.

Now you can start trading forex with a minimum deposit of just $10. It's surprisingly easy – you don't need to be a trained fund manager or even have an extensive knowledge of the financial markets. Why not try trading a free demo account to see how easy it is?

what is forex trading

There are many forex brokers offering you the ability to trade online. When you are looking for a broker, you need to know what they can do for you. One of the brokers providing these services is Olymp Trade. By opening a free demo account (demo $10,000), you will receive a free e-book, watch webinars (video tutorials) to easily get information about fx trading. The account manager will advise you on all issues.

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