New York  
Forex Trading
Forex, Fx or Foreign Exchange Market is a network of the largest financial institutions in the world such as central banks, commercial banks, and other financial institutions, corporate customers and brokers, where foreign currency is bought and sold.

Daily trading in traditional Forex is very large and was estimated at USD 1.5 trillion in 1998.

The Forex market is a 24 hour global market that works all week except Saturdays and Sundays with no opening or closing hours.

The four largest Forex centers in the world are London, New York, Tokyo, and Singapore. Usually trading is brisk in North America mornings, or afternoons in Europe due to both markets being open at the same time and usually due to new US economic data being released.

The Forex markets regularly trade a very wide range of currencies, however the majority of transactions are in five major currencies: the US Dollar, the Euro, British Pound, the Yen and the Swiss Frank. The greatest number of currency trades are made against the US Dollar.


Copyright © 2006, International Financial Brokerage (IFB) Co.