About Forex Market

Foreign Exchange market, commonly referred to as Forex or simply FX, is the largest financial market where currencies are bought, sold and exchanged one for another. Unlike, for example, stocks market, it has no centralized exchange and transactions are performed over-the-counter, that is, participants trade with one another through a worldwide network of banks, brokers and other financial institutions.

As a global market Forex is open 24 hours a day, 5 days a week. The major financial centers are based across almost every time zone – in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. Depending on the exchange active during a specific time, one can distinguish between three trading sessions: Asian, European and American.