The foreign exchange market, known as the Forex market or FX market is one of the biggest financial markets in the world. If this the first time you are hearing about the Forex market you may be surprised to know that the average daily volume in the FX markets exceeds 4.0 trillion dollars, a substantial increase from several years ago.
Banks, hedge fund managers, insurance companies, financial brokers and private investors are just some of the names you will find in the foreign exchange market. Approximately 90% of the forex traders are the speculators, private investors that trade from home or an office in attempt to capitalize over the slightest price change known as pips. Forex trading is choosing a currency pair that you expect to change in value and place a trade accordingly.
Unlike with other market,s forex trading is available 24 hours a day. Whether you are from Europe or Asia, trading will always be available for you 24 hours a day from Monday to Friday. Once you begin trading, profits can be booked in anytime, 10 seconds into the trade or after 20 years.
There is no minimum or limit to the amount of time you hold onto a trade in the market as long your invested capital can support the open positions. 24FX offers a variety of currencies in its trading platform. Euro, US Dollar, Australian Dollar, Canadian Dollar, Japanese Yen, Swiss Franc, South African Rand and Norwegian Krone are just some of the currencies you will find in the Forex market.