THE FX MARKET
> FX Overview
> Market Profile
The Off-Exchange Retail Foreign Currency market, also known as Forex, is the simultaneous purchase and sale of one currency for that of another. Since most world currencies do not have a fixed exchange rate, exchange rates are always fluctuating. The off-exchange retail foreign currency market, in conjunction with the interbank market, is one of the largest financial markets in the world. There is no official currency exchange, and trading is based on a decentralized global network of central banks, large banks, currency speculators, corporations, governments and other institutions.
Unlike many other markets, the forex market is open 24-hours per day, 5 1/2 days per week. Forex trading begins each day in Australia, moves to Asia, followed by Europe, and finally the Americas.
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