What is Forex market ????
Forex market is the world’s biggest currency exchanging market that bye and sell money between countries and nations. It can make many people richer and prosperous. But what is Forex? What is the meaning of Forex market?
Forex is the combination of starting words of two letters that are Foreign and exchange. Where the place that exchange money (buy and sell) and make profit is called as Forex Market.
In forex trading, currencies are exchanged to earn profit. The most important feature of this trading is that it is done on global level means people around the world can place trades and earn profits. It is estimated that more than trillion US dollars trading is done in a day. Forex trading like share market works for 5 days starting from Monday and ends at Friday making it 24/7 business. The big guns of forex trades are large banks, International corporations and large financial institutions.
The theme of forex trade is "free floating currencies". "Free floating currencies" are used for those currencies which are not supported by any specific product like diamond, gold, silver, oil etc.