FOREX
The Foreign Exchange market (also referred to as the Forex or FX market) was created in the ’70 as the international monetary system progressively evolved from fixed to floating exchange rates. Unlike other financial markets that operate at a centralized location (i.e. stock exchange), Forex market has no central location. It is a global electronic network of banks, financial institutions and individual traders, all involved in the buying and selling of national currencies.
Another major feature of the Forex market is that it operates 24 hours a day, corresponding to the opening and closing of financial centres in countries all across the world, starting each day in Sydney, then Tokyo, London and New York.
Foreign currency trading is open to private and institutional traders. Open a FOREX account today to enjoy trading opportunities so many have already experienced.
In the Forex market, you pay no commissions and no exchange fees because you deal directly with the market maker in a purely electronic online exchange. The unique cost is reflected in the bid/ask spread, as low as 2 pips! Discover them clicking here
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