King of the Anthill in financial trading is the Foreign Exchange Market, which is known as Forex trading. Most of us may believe that the New York Stock Exchange (NYSE) is tops in the financial world, but the Forex market is in fact number one in volume; and it is the true leader. I introduce Forex trading in this commentary.
The Forex market has a combined total of over THREE TRILLION United States dollars EVERY DAY. Even after the $360 billion in Outright forwards is subtracted, it still has more than one hundred times the financial trading volume about which the NYSE can boast.
The Forex market is financial trading, and it is worldwide. People in the financial world call it the “interbank" market, and it is where financial trading is conducted over the counter (OTC). Forex trading occurs directly between parties who are involved in the trade; and is completed through a central exchange. The main centers for Forex trading are: New York, Tokyo, Sydney, London and Frankfurt. The diversity of Forex trading locations allows the Forex market to operate almost without closing its virtual doors.
The Foreign Exchange Market is simply the financial trading of currency from one country for money of a different country. The value ratio of currency of one country related to another fluctuates; and that is the fuel for the financial world of the Forex market. Framework for financial trading consists of the purchase of one currency for the value of your money. In other words, I could sell a certain amount of United States Dollars (USD) to you in exchange for a specified amount of European Euros (EUR).
The Forex trading “hot button" in the financial world is the “spot market, " and it is the most important component of the Foreign Exchange Market. It is in reference to financial trading, which occurs “on the spot. " Financial trading on the spot market records more than a trillion USD daily. Futures trading, which is an element of Forex swaps, and Outright forwards are more complex than the spot market.
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