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WHAT IS FOREX?
The Forex market, also known as the foreign exchange market, is the
global place where currencies are bought and sold.It is a decentralized
marketplace, meaning there is no single building or exchange where all
trading happens-instead, transactions occur electronically between
banks, brokers, and traders all around the world.
The market operates 24 hours a day 5 days a week due to the different
time zones of major Financial Centers. Currency pairs are traded and
the exchange rate represents the one value of one currency relative to
another. Traders aim to profit from fluctuations in exchange rate by
buying low and selling high.
Forex is the largest financial market on Earth, with over 7 trillion dollars
traded every single day.
