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The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with an average traded value of around U.
The total volume changes all the time, but as of August , the Bank for International Settlements BIS reported that the forex market traded in excess of U. One unique aspect of this international market is that there is no central marketplace for foreign exchange.
Rather, currency trading is conducted electronically over-the-counter OTC , which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - across almost every time zone.
This means that when the trading day in the U. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly. Spot Market and the Forwards and Futures Markets There are actually three ways that institutions, corporations and individuals trade forex: The forex trading in the spot market always has been the largest market because it is the "underlying" real asset that the forwards and futures markets are based on.
In the past, the futures market was the most popular venue for traders because it was available to individual investors for a longer period of time. However, with the advent of electronic trading and numerous forex brokers , the spot market has witnessed a huge surge in activity and now surpasses the futures market as the preferred trading market for individual investors and speculators.
When people refer to the forex market, they usually are referring to the spot market. The forwards and futures markets tend to be more popular with companies that need to hedge their foreign exchange risks out to a specific date in the future. TPL4X recognizes that active traders have different financial goals. If you really want to learn to trade, then you have arrived! This service is an essential tool for becoming an informed Forex trader and improving your trading.
Two emotions drive every trade you make — Fear and greed. Your Name required Phone number required. Given this representation, all information and material provided by TPL4X is for educational purposes only and should not be considered specific investment advice. TPL-Forex Let our experience make you money. These products are appropriate for the following individuals.
Explore our advanced suite of innovative analytical tools and apps to help you stay ahead of the curve in your forex and CFD trades. View real-time market sentiment data and see what our clients are trading now. Join our live webinar with a professional forex trader, as he analyses the latest trends.
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