For more information about the FOREX market, click here: foreign currency market
The foreign currency market, also known as the foreign exchange market, FX for short, is the oldest and largest financial market in the world. It is also the most liquid market in the world, and is traded mainly through the 24 hour-a-day inter-bank currency market. The FOREX market never stops. Even on 11 September 2001, it was still possible to get one's hands on two-side quotes on currencies. By comparison, the currency futures market is only one percent the size of the foreign exchange market.
Another thing that differentiates the FOREX market from other financial markets, such as the futures and stock markets, is that it is not centered on an exchange. Trading circles around the globe, around the clock, from America to Australia and New Zealand, to the Far East, to Europe, back to America. It is truly a full-circle trading platform.
Traditionally, minimum trading sizes were set large - this, combined with strict regulations meant that FOREX trading was not possible for small speculators. Major currency dealers, banks, and a few large speculators were the main players. They were the only ones lucky enough to be able to take advantage of the currency market's fantastic liquidity and the strong trending nature of the world's primary currency exchange rates.
Nowadays, it's much easier. FOREX brokers are able to break down the larger sized inter-bank units and offer any number of smaller units to small traders and speculators. This gives small players, whether individual speculators or smaller companies, the opportunity to trade at the same rates and price movements as the big players who once dominated the market.
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