What is Forex | How Forex Works?

Pen To Point30 Sep, 2024Finance

Forex or Foreign exchange is the financial market where currencies of different countries are traded or exchanged. It is the world?s largest financial market, with $6.6 trillion being traded on average every day. The market participants include individual traders, speculative traders, central banks, commercial banks, hedge funds, and other financial institutions. Forex trading involves purchasing and selling different currencies in the Foreign Market; for example, exchanging US Dollars for the Euro. There are many benefits of trading in Forex, like deep liquidity, greater leverage, low barriers to entry, and access to a 24-hour market.