Forex trading takes place on the foreign exchange market, the largest financial market in the world. It is a trading platform dedicated to the buying and selling of foreign currencies. Those engaged in Forex trading include banks, financial institutions, governments, currency speculators and corporations.
The difference between Forex trading on the foreign exchange market and other financial markets besides its huge size is that it has no physical location and takes place 24 hours a day, excepting weekends, right across the globe.
Forex trading literally follows the sun around the world. Trading moves from major banking centres of the U.S. to Australia and New Zealand, to the Far East, to Europe and finally back to the U.S.
That said, there is a Forex trading centre in London, which is the largest and others in New York, Tokyo, Singapore and Hong Kong. As London is the largest Forex trading centre, it accounts for the highest amount of trading at 34 percent.
Forex trading takes place for two reasons. First is the trading activity of governments and companies that buy or sell products and services in foreign countries accounts for about 5 percent of daily turnover.
The difference between Forex trading on the foreign exchange market and other financial markets besides its huge size is that it has no physical location and takes place 24 hours a day, excepting weekends, right across the globe.
Forex trading literally follows the sun around the world. Trading moves from major banking centres of the U.S. to Australia and New Zealand, to the Far East, to Europe and finally back to the U.S.
That said, there is a Forex trading centre in London, which is the largest and others in New York, Tokyo, Singapore and Hong Kong. As London is the largest Forex trading centre, it accounts for the highest amount of trading at 34 percent.
Forex trading takes place for two reasons. First is the trading activity of governments and companies that buy or sell products and services in foreign countries accounts for about 5 percent of daily turnover.