what is forex
FOREX (FOReign EXchange market) is an international foreign exchange market,
where money is sold and bought freely. In its present condition FOREX was
launched in the 1970s, when free exchange rates were introduced, and only the
participants of the market determine the price of one currency against the other
proceeding from supply and demand.
As far as the freedom from any external control and free competition are
concerned, FOREX is a perfect market. It is also the biggest liquid financial
market. According to various assessments, money masses in the market constitute
from 1 to 1.5 trillion US dollars a day. (It is impossible to determine an
absolutely exact number because trading is not centralized on an exchange.)
Transactions are conducted all over the world via telecommunications 24 hours a
day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every
time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong,
etc.) there are dealers who will quote currencies
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