What is Forex?

Forex stands for Foreign Exchange while Forex Trading is the exchange of foreign currencies by banks around the world. It is also called the spot market. There is no head office (HQ) or one specific location to perform currency exchange transactions.

What is Forex Trading?

Forex trading is buying one currency and selling another currency at the same time. For example, the British Pound and the Japanese Yen (GBP/JPY) or the United States Dollar and the Canadian Dollar (USD/CAD).

How many daily Forex transactions?

All buying and selling transactions and currency exchanges are done online through the Internet. Daily Forex transactions involve over 6.6 trillion US Dollars.
The forex market is open 24 hours a day and 5 days a week. For your information, the forex market only closed on weekends, unlike the stock or bond markets which close at the end of each business day.

Where is this forex traded?

This sale/purchase transaction is done "online" through certain platforms namely Metatrader4, Metatrader5 & Ctrader. This app can be downloaded on Google Playstore or Windows for pc/laptop users.