Forex

 

 

  Symbol Bid Ask Spread
EURUSD 1.19733 1.19734 0.1
  Symbol Bid Ask Spread
USDJPY 111.524 111.526 0.2
  Symbol Bid Ask Spread
GBPUSD 1.35208 1.35211 0.3
  Symbol Bid Ask Spread
USDCHF 0.96361 0.96366 0.5
  Symbol Bid Ask Spread
EURCHF 1.15376 1.15383 0.7
  Symbol Bid Ask Spread
AUDUSD 0.80041 0.80043 0.2
  Symbol Bid Ask Spread
USDCAD 1.22769 1.22771 0.2
  Symbol Bid Ask Spread
NZDUSD 0.73121 0.73125 0.4
  Symbol Bid Ask Spread
EURGBP 0.88553 0.88556 0.3
  Symbol Bid Ask Spread
EURJPY 133.531 133.534 0.3
  Symbol Bid Ask Spread
GBPJPY 150.789 150.797 0.8
  Symbol Bid Ask Spread
AUDJPY 89.265 89.27 0.5

So what is Forex?

Currencies are important to all around the world, currencies need to be exchanged in order to conduct foreign trade and business. If you live in the UK and want to buy champagne from France, then you or the company that you buy the champagne from will have to pay the French for the champagne in Euros (EUR). A UK importer would have to exchange the equivalent value of Pound Sterling (GBP) into Euros.

So needing to exchange currencies why the forex market is the most liquid market in the world. Far larger than other markets, even the stock market, with an average traded value of around US $5 Trillion per day.

The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centres mainly London, New York, Tokyo, Frankfurt, and Sydney covering the whole globe. So the trading day in the U.S. will be finishing and the trading day begins again in Tokyo. For this is one of of the reasons the forex market can be extremely active any time of the day, with price  constantly changing by the second in some cases..

 

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