Everything Forex Trading In One Place
Forex is short for foreign exchange. The forex market is a place where currencies are traded. It is the largest and most liquid financial market in the world with an average daily turnover of 6.6 trillion U.S. dollars as of 2019. The basis of the forex market is the fluctuations of exchange rates. Forex traders speculate on the price fluctuations of currency pairs, making money on the difference between buying and selling prices.
Due to different time zones, the international forex market is open 24 hours a day — from 5 p.m. Eastern Standard Time (EST) on Sunday to 4 p.m. EST on Friday, except holidays. Markets first open in Australasia, then in Europe and afterwards in North America. So, when the market closes in Australia, traders can have access to markets in other regions. The 24-hour availability of the forex market is what makes it so attractive to millions of traders.
