- Forex“, also FX, is an abbreviation for Foreign Exchange. Foreign exchange takes place when one country’s currency is exchanged for another country’s currency. Forex is the largest financial market in the world, trading some $5 trillion daily.
- Most trading is done in the Spot Cash market, conducted primarily by banks. Major banks around the world constantly exchange currencies for their customers for tourism, trade, and for their own accounts to speculate on the daily changing values of the currencies.
