What does forex mean?

Forex Meaning - FOREX.com US Forex, also known as foreign exchange or FX, is the conversion of one country's currency into another. It forms the basis of forex trading, one of the world’s most-traded asset classes. Foreign exchange occurs globally between a network of banks, brokers, and speculators.

What is a world forex market?

An interesting aspect of world forex markets is that no physical buildings function as trading venues. Instead, it is a series of connected trading terminals and computer networks. Market participants are institutions, investment banks, commercial banks, and retail investors from around the world. Who Trades on It?

What is a forex broker?

Forex brokers are very similar to online stock trading platforms — firms that execute trades on the forex markets. Forex brokers take on the heavy lifting of monitoring a nearly round-the-clock currency trading environment.

How are forex prices determined?

Instead of trading via a central exchange such as the New York Stock Exchange or London Stock Exchange, forex prices are determined by interbank trading – the buying and selling of currencies between banks constantly, all over the world. The currency market is open 24 hours a day during market hours.