Foreign exchange (Forex) is the international market where exchange takes the place of currencies. In this market, there are different entities, including international banks, central banks, commercial companies, intermediaries, and small investors.
The Forex market is the most liquid in the world; the daily contractual volumes of the Forex market exceeds $1.9 trillion and is made up of a huge one amount of participants. Unlike the stock market, there is no clearing house or stock exchange where transactions are physically conducted, but the latter are conducted by the huge amount of geographically distributed market participants.
The foreign exchange market was initially not open to ...
