In forex stands for Foreign exchange market, which is one of the best market place where one can trade all types of currencies with other currencies. Some of the most important persons like banks, central banks, governments, currency speculators, multinational corporations, and other financial organizations are the traders in this market. Some of the best features of the market are 24 hour trading, liquidity, geographical diversity, large variety and number of traders and of course huge trading volumes. As most of people, about billions of dollars are traded in the forex market that is the reason it opens 24*7, except weekends.
One of the best features of Foreign exchange market is one cannot find any type of central person because this trading is done through with ‘Over The Counter’ method. Talking about the price, it totally depends on what type of currency is being traded by the people. There are some currencies which is highly traded in the foreign exchange are United States Dollar, Japanese Yen, Swiss Franc, Eurozone Euro and British Pound Sterling. Spot, Forward, Future, Swap, Option, etc. are different types of financial instruments, which are used for forex trading. So, if you want to know the financial situation of any country then it is best way.
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