What is a foreign exchange (forex) market?

The foreign exchange (forex) market is the largest financial market in the world and is made up of banks, commercial companies, central banks, investment management firms, hedge funds, retail forex brokers, and investors. 1

Is the forex market active at any time?

As such, the forex market can be highly active at any time, with price quotes changing constantly. You’ll often see the terms FX, forex, foreign exchange market, and currency market. These terms are synonymous, and all refer to the forex market. How Does the Forex Market Work?

How do you participate in the forex market?

Forwards and futures are another way to participate in the forex market. The Forex market determines the day-to-day value, or the exchange rate, of most of the world's currencies. If a traveler exchanges dollars for euros at an exchange kiosk or a bank, the number of euros will be based on the current forex rate.

Where can I find a forex trading guide 2023?

Most top brands offer webinars on their website. Alternatively, both brokerages and experienced traders provide forex trading 101 YouTube videos and channels. Those with ‘2023 forex trading guide’ in the title will have up-to-date, relevant information.