Forex is the abbreviation for foreign exchange. It is also sometimes
shortened again to just FX. Foreign exchange, forex, FX and currency all refer to
the $1.6 trillion per day market where currencies are exchanged for each other.
The forex market’s size dwarfs all of the stock and commodity markets
combined.
The forex markets are a true electronic or over-the-counter exchange.
There is no physical or central forex exchange location. The forex market is
comprised of a global network of banks, corporations and individuals who are
buying and selling currencies 24 hours a day, except on weekends.
Forex trading follows the sun around the globe. The most active exchange
centers are in Tokyo, Singapore, London and New York. When Asian trading
session ends the European session begins and when the European session ends
the North American session begins and so on.
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