DayTradingForex.com eurusd
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Forex Trading Signals. FX currency trade recommendations.
Description
What is FOREX (Foreign Exchange currency market)?
Foreign Exchange, also known as Forex, or FX, is more commonly referred to as Currency Exchange. Quite simply, the trading of one currency for another. The FX market is the world's largest market, daily trading volumes exceed $1.5 trillion per day, easily dwarfing markets such as the NYSE (about $30 billion in daily volume). The Foreign Exchange markets trade 24 hours per day, as the market moves from time zone to time zone, with major dealing centers today in London, New York, Tokyo, Zurich, Frankfurt, Paris, Hong Kong, Singapore, and Sydney. Easily the most liquid market in the world, investors, fund managers, corporations, banks and investment houses are able to take advantage of the 24 hour Forex market, in order to profit by and hedge their financial positions worldwide.
The Foreign Exchange market began in 1971, when the United States moved away from the Gold Standard. Floating exchange rates began and most currencies are traded against the US dollar (USD), the world's largest free economy. The FX market is an over the counter market (OTC), an inter bank, inter dealer market, whereby trades are executed by telephone or by electronic networks between any two counter parties that agree to transact. Banks and Dealers negotiate and trade based upon exchange rates obtained via distribution networks, such as Reuters. Until recently, typical trades were executed at $1 million dollars and above, these participants are known as Institutional players. The demand of the Retail trader (under $1 million) has brought minimum trade amounts down considerably.
Who's participating in FOREX?
Banks/Investment Banks account for the most significant portion of Forex volumes. The biggest banks often trade billions of dollars per day. They trade as a service to their customers and also for their own benefit.
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