What is Forex ?
posted in Community by
max40
In the simplest explanation, the foreign exchange market is the place where currencies are traded. It is currently the largest and most liquid market in the world. The average daily trading volume is almost five trillion dollars. Even if all the stock markets in the world were to unite, all these markets would still be overshadowed by the immensity of the forex market.
Fx, foreign exchange, or currency exchange is usually labeled as forex. Large financial institutions, organizations, companies, banks, and wealthy investors are experts in trading on the Forex market. They have discovered greater trading potential that other investments cannot meet.
The currencies are very significant. It is a medium for exchange, and without it, people cannot conduct trade and business. If a person living in America wants to buy a product in Europe, they must pay in euros to trade. This person must pay in euros to buy this particular product. A tourist traveling in China cannot pay with a dollar to see the Great Wall of China, as the dollar is not an accepted currency in China. Hence, a tourist must first exchange a dollar for a Chinese yuan before seeing this fantastic landscape.
3 years, 2 months ago
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