Forex is an acronym for Foreign Exchange. The Foreign Exchange Market, which is also referred to as the Forex Market or Currency Market is one of the largest markets on a global scale and is where one currency is traded for another .
In the Forex Market, one currency is traded for another via the simultaneous purchase and sale of one currency for another .
The Forex Market consists of a variety of participants – from multinational corporations who need to pay wages and other expenses in a particular country of operation – through to individual traders who speculate on exchange rate movements to make a profit.
The Forex Market operates 24 hours a day as it spans the globe and encompasses all the different time and business regions, which means trading opportunities are always available.
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