Please login first to access your account securely.
Never share your password with anyone.
The foreign exchange market or forex market is the market in which participants trade currencies. According to the Bank for International Settlements, it is the world’s largest market with almost $5.3 trillion in daily volume. This is more than the entire world’s stock and bond markets combined. Not only is the Forex market the largest market in the world, it also the most liquid one, which separates it from the other markets.
There is no central marketplace for currency exchange. Instead the trading is conducted over-the-counter. Unlike the stock market, decentralization of the forex market lets traders trade with more dealers, conducting better price assessments. Normally, the larger a dealer is, the better their access is to the prices at the largest banks in the world. They are then able to pass these prices on to their clients.
The spot currency market is open 24 hours a day, five days a week, with currencies traded among the participants all around the world, such as banks, commercial companies, central banks, investment management firms, hedge funds, as well as retail forex brokers and investors. The Tokyo session opens and forex trading starts. As Tokyo closes, the London session opens and continues non-stop going into the New York session. The close of the New York session completes a whole trading day. Since the forex market is the only one that is open 24 hours a day, no other market has the capability to match its profit potential.