The Forex Market serves an important role to allow banks, businesses, governments, investors and traders exchange and speculate on currencies. It is the largest and most liquid market in the world, coming in with an average daily turnover of $3.98 trillion. It is open 24 hours a day, five days a week (excluding public holidays).
Currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. Read on to find answers to our Part 1 – Questions on trading Forex.