In this infographic IFC Markets highlights the key characteristics of the Forex Exchange Market (also known as Currency Market, Forex or just FX).
Now, let’s review the most important features of the Forex Market briefly.
Among other global financial markets, the Foreign Exchange market is the largest one. Did you know that its average daily turnover exceeded $6 trillion in 2019? Incredible!
In the Forex, market participants trade numerous currencies at determined prices. This kind of sell/buy operations need a currency of one country to be converted into another.
In the list of Forex Market participants, you can find both major and minor players, such as investment management firms, money transfer/remittance companies and bureaux de change, retail Forex traders and speculators.
Another key point is that the FX market is uncontrollable – it is not subject to any state influence. That is one of the reasons the FX is so attractive to currency traders.
The infographic presents also the most traded currencies in 2019.
Along with the advantages of Forex trading, there are also disadvantages that must be taken into account before becoming a foreign currency trader.
Want to learn more about how the Forex market works, view the infographic below
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