Whereas in the futures market, the date the trading price is determined and the date the currency is exchanged are different. Most of Forex trading happens in the spot FX market, which is different from the futures market, in that currencies are physically exchanged in real-time when a transaction is made. With constant price fluctuations, this tumultuous market can make Institutions, companies and some individuals a great deal of money. Currencies are always traded in pairs, for example, the US$ with the UK£ or the US$ with the EURO. The market is open 24 hours a day, when trading closes in New York it opens again in Tokyo and Hong Kong. The foreign currency exchange market, known as the Forex market (FX) is the world’s largest trading market, dwarfing the Stock Exchange in size with nearly $5 trillion US dollars traded daily. ![]()
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