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Who Trades On The Forex Market?

forex traders

The Forex market, foreign exchange market, is considered to be the current the biggest financial market in the world. As a matter of fact, the currency market is several times bigger than the stock market. This is the one sector of the financial industry where a certain type of currency is exchanged for another type. There are several unique attributes related to Forex that may be surprising to those who are trading for the first time.

This introductory look at Forex will help you understand why and how more traders are choosing this type of investment.

Understanding Forex

Forex is the exchange rate for the price that is paid for one currency in exchange for another currency. These are the types of exchanges that help to drive the market.

There are over 100 different types of currency in the world. However, most of the common Forex trades and payments are made through the US Dollar, Euro and the Yen. Other commonly traded currencies are the British pound, the Canadian Dollar, the Australian Dollar, the Swiss krona and the Swiss franc.

The currency can be traded through several platforms including: