An Overview of Forex Markets

Foreign exchange market (forex, or FX, market), institution for the exchange of one country's currency with that of another country. Its a global marketplace for exchanging national currencies against one another. Forex trading is the means through which one currency is changed into another. When trading forex, you are always trading a currency pair – selling one currency while simultaneously buying another.

Some of the most frequently traded FX pairs are the euro versus the US dollar (EUR/USD), the British pound against the euro (GBP/EUR), and the British pound versus the US dollar (GBP/USD).

The Forex market is where currencies are traded. It is the only truly constant trading market in the industry. Earlier the forex trading market was dominated by institutional firms but slowly it has become more retail-oriented in recent years and traders and investors have begun to trade. It’s a billion dollar market with immense opportunities to achieve in the finance world.