The Forex or Foreign Exchange Market is the largest market in the world. It is the place where currency exchange happens every day. Each day, more than 4 trillion dollars are exchanged during forex trading. Forex many a times is referred to as foreign exchange and with this type of currency trading, it is available to a lot of common investors. Earlier in the currency you would get access to forex only through brokerage houses but now with the advantage of internet you can get the access.
This forex market is a currency market which means that dealers have to deal directly. This is a 24 hours market which can be accessed by the investor to keep a check on the rate of the currency.
Benefits of Forex Trading
Investors these days are more inclined towards share markets and trading. There has also been a growth in forex trading. Following are the benefits of trading the forex markets
ALL DAY LONG
This Forex market is open for all 24 hours so that you can do trading whenever you hear a financial news breaking out. Whenever a currency falls you can carry out transactions and do trading.
Not like a usual stock, this is a smaller marketplace with a few thousands of stocks/ forex to choose from, this Forex market basically revolves around eight major currencies. This gives you a narrow choice to make which means no room for currency confusion. So, even though the market is big, you can get a very clear picture of what is actually happening out there.