FOREX is the acronym for the FOReign EXchange market and is the largest financial market in the world with a volume of over $4 trillion a day (yes, $4,000,000,000,000 a day!). It is where one country’s currency is converted to another. It operates through an electronic network of banks, corporations, and individuals trading one currency for another and does not have a physical location nor a central exchange. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.
