What is Forex?

Forex is the most known liquid marketplace where countless dollars exchanging every day. Moreover, various national currencies are traded at this place. Dollar and Euro are the hopping traded currency in FX. In a simple manner, it is a network of institutions which is the largest financial market in the world.

According to the source, the Forex market is an electronic network of banks, institutions, and individual investors. This exchange market has two more types of markets namely Spot and Forward.

On the other hand, in Foreign Exchange Market, currency trade in lot size like micro, mini and standard lots. However, this type of exchange market is unique compared to other exchange markets. The market opens for 24 hours a day. Forex allows traders to buy or purchase currency at any time during the working days from Monday to Friday.

The FX market is also split into levels of ways. In addition, retail foreign exchange traders, central banks, commercial companies, investment management companies, and NB Forex companies are the participants of the Forex market.

In the current market situations, trading is an easy act. But, Forex trading was limited to large companies, funds, and government-related firms. Although, investment firms, banks, and other participants related to FX provides offers to individuals to trade currency. While trading in Forex, traders can purchase or sell various countries' currency bout there is no physical exchange from one individual to another.