What is the Foreign Exchange Market?

30 March 2011 - Which Way To Pay

Email Article Print Article
    


What is the Foreign Exchange Market?


The foreign exchange market – more often known as the ‘forex’ market – is the world’s biggest financial marketplace. 

People can access the forex market from all over the world, day and night, and is open from 5pm EST on Sundays until 4pm EST on Fridays. 

Each trading day begins in Sydney /Australasia and ends in New York / North America, having travelled through Europe and the rest of the world on its way.  Due to the difference in time zones, the market is therefore open 24 hours a day.  As one region’s trading closes, a new region’s opens. 

Currently, the market trades around US$1.5 trillion each day.  There is no one central trading place for the market; instead, trading takes place electronically (on computers, over the phone) between market participants.

Not just big banks and corporations access the forex market – individual investors can also partake in currency trading.  Not surprisingly due to the high volume of daily trade, the market is known to fluctuate frequently.  This means that the element of risk is high; market participants spend a considerable amount of their efforts in managing their risk levels.

75x75_news_08.jpg
 

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

INVESTMENT TRADING
Compare Investment and Trading >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

Getting stung with large veterinary bills can prove to be a struggle . That's why Pet Insurance cover is so important.
30 August 2016
Which Way To Pay
Making sure all our family's favourite pets are covered on a insurance plan is very important.
Read More >>
Legal Services are a very scary words , make sure your dealing with things correctly .
16 July 2015
Which Way To Pay
s we all know when dealing with anything legal it can always be a little bit daunting . This is why many people across Australia use some form of Legal Service guidance. This helps to make sure all those legal requirements are dealt with in the correct way.
Read More >>
Everyone wants the best rates when Transferring Money to different places.
14 May 2015
Which Way To Pay
Whether its transferring money to help a friend in need , or a investment transfer we all want the best rates and prices on the market.
Read More >>