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What Is The Foreign Exchange Market (forex)?


I know hardly anything about the economy let alone trade markets. Please explain it to me in the most simplistic of terms. Thank you :)

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This entry was posted on Saturday, December 5th, 2009 at 12:07 am and is filed under forex tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

5 Responses to “What Is The Foreign Exchange Market (forex)?”

  1. The Geek Says:
    December 5th, 2009 at 12:25 am

    You can buy and sell currencies from other countries…you can learn how to do it from livetradingdemo.com

  2. John Doe Says:
    December 5th, 2009 at 12:32 am

    Hi there, as much as the name Foreign Exchange Market suggests, there is no centralized market for Forex :)
    The entire “market” is made up of the central banks, big companies, banks, retail traders like you and me etc.
    This is why the forex market has great liquidity and operates 24/7 on all working days.
    As the name suggest, this is a market for exchange of currencies.
    Besides traders doing exchanges for speculation, there are many purposes for engaging in this market.
    Businesses exchange currencies so as to do business overseas.
    Central banks manages their reserves through forex.
    Banks conducts remittances of money etc across countries.
    The list goes on.
    That is why, the dynamics of the forex market is very vibrant as well.
    For example, the recent interest rate increase by the Reserve Bank of Australia not only strengthened the AUD, it apparently brought positive sentiments to other currencies too.
    Therefore, if you intend to trade in forex, it is important that you do your homework and be prepared.
    Proper money management is probably one of the best tip.
    I will also like to invite you to my blog for newbie forex traders. You can read more about forex there too.
    All the best.

  3. Jon Says:
    December 5th, 2009 at 1:11 am

    It offers sales of most foreign currencies.

  4. jennifer Says:
    December 5th, 2009 at 1:58 am

    IT is an (electronic) market where currencies are exchanged (bought and sold)

  5. raysor Says:
    December 5th, 2009 at 2:17 am

    it is just like shares. you can buy & sell

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