Foreign exchange market. Better known as FOREX, is the world's largest and most prolific financial exchange market originated on 1973. Bearing the status of largest and most prolific currency exchange market, FOREX is the centre stage where a broad majority of the currency trading or FOREX trading takes place, with a total daily turnover of currency worth more than $ 1.2 trillion.
For having such an enormous sum of total turnover everyday, FOREX can be considered as a liquid market ideal for Forex trading. Unlike many other securities, FOREX doesn't trade on a fix exchange rate, instead, the funds are traded primarily between central banks, commercial banks, non-banking international corporation, hedge funds, private investors and not to forget, speculators. Previously, smaller investors are precluded from trading in FOREX due to the large amount of deposit required. However, until the last years, with the continuous growing of Internet and the rise of competitions, smaller investors can now trade in FOREX as the requirement to trade in FOREX has been amended.
Truthfully, there are a few factors why FOREX trading is starting to attract more and more medium and smaller sized investors. One of the main reasons is due to the fact that FOREX trading operates at 24 hours per day, 5 days per week. In addition to that, unlike the old days where trading is done only through telephone, it can now be done ….