The foreign exchange market – also known as forex or the FX market – is the world’s most traded market, with turnover of $5.1 trillion per day.
Forex is traded 24 hours a day, 5 days a week across by banks, institutions and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.
Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by actively speculating on the direction currencies are likely to take in the future.
Our free Let’s Get to Know Forex guide will cover how to get started, help you make your first trades and outline how to create a long-term trading plan for long-term success.
Forex is traded 24 hours a day, 5 days a week across by banks, institutions and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.
Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by actively speculating on the direction currencies are likely to take in the future.
World’s Major Currencies
| COUNTRY | SYMBOL | COUNTRY | SYMBOL |
|---|---|---|---|
| United States | USD | Switzerland | CHF |
| Eurozone | EUR | Canada | CAD |
| Japan | JPY | Australia | AUD |
| Great Britain | GBP | New Zealand | NZD |
