Forex - Assets Phoenix - Trade and invest in Forex & CFDs on indices, precious metals, energies, ETFs, stocks, cryptos, and bonds on excellent terms

What is forex and how does it work?

The Foreign Exchange Market

The foreign exchange market - also known as forex or the FX market - is the world's most traded market, with turnover of $5.1 trillion per day.

It is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.

To put this into perspective, the U.S. stock market trades around $257 billion a day; quite a large sum, but only a fraction of what forex trades.

24 Hours

Market Trade

Forex is traded 24 hours a day, 5 days a week across by banks, institutions and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.