The Foreign Exchange market or Forex (FX) is a global decentralized financial market where the worlds fiat currencies are traded.
The forex market is the largest, most liquid financial market in the world. In 2019, the daily FX volume reached USD $5.3 Trillion daily average, according to data from the Bank for International Settlements (BIS). Forex traders make basic purchases and sales transactions to take positions on currency pairs. The foreign exchange market is open 24-hours a day on weekdays and forex trading takes place on many different exchanges across the world.
