The FOREX Foreign Exchange Market is a completely virtual currency trading market that is accessible from around the globe. On an average day, over $1.5 billion USD changes hands, a larger dollar amount than all United States financial markets combined. The FOREX market is comprised of not only large banks and financial institutions, but individual currency trading investors. The global scope of the FOREX market and the ease of use have attracted many personal investors. The FX currency trading market has a very high level of liquidity. Since the market is so liquid and has such a high volume of trading, bid and ask prices for any single currency are usually very very small.
The FOREX market is open 24 hours a day during trading days, making it easy for people around the world to trade currency day or night. The market opens at 00:00 GMT on Mondays, and closes at 22:00 GMT on Friday evenings.
All currencies on the FOREX market are traded against the United States Dollar. The following major currencies are commonly traded on the FOREX foreign exchange market;
Euro (EUR)
Japanese Yen (JPY)
Great Britain Pound (GBP)
Swiss Franc (CHF)
United States Dollar (USD)
Major FOREX banks and trading institutions exist to get anyone started with FOREX trading. Many online FOREX organizations will provide a "sample account" for new FOREX traders who wish to get acquainted with various FOREX trading platforms before putting real money on the line. With the constant changes in currency rates and the large amount of capital traded on FOREX markets traders are able to fair quite well by trading various currencies.
Keywords: FOREX market, Foreign Exchange Market, FX, FX Trading, FOREX Trading, What is the FOREX market? What currencies are traded on the FX market?
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Thursday, September 14, 2006