Foreign Exchange Market (Forex, FX)

The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of over US$2 trillion.
Forex market allows you to buy and sell currencies against each other and speculate on the differences in exchange rates.

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The most commonly traded currencies are referred to as “Majors”. Most of daily transactions on Forex trading involve the Majors. These seven currencies are the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD) and Australian Dollar (AUD).

There are two main reasons to buy and sell currencies. Some of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. Over three quarters is trading for profit, or speculation.

Forex is a true 24-hour market and it is open to corporations, small businesses, commercial banks, investment funds and private individuals. Trading begins each day from Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. According to New York time, trading begins at 2.15pm on Sunday in Sydney and Singapore and progresses through to Tokyo at 7pm, London at 2am and reaches New York at 8am.

Forex structure, as is in operation today, was established in the 1970’s when free currency exchange rates were introduced. This period also saw the US Dollar overtake the British Pound as the benchmark currency. Over the last three decades Forex has become the world's largest financial market in the world.

Until recently, the Forex market was not accessible to the average trader or individual speculator. NorthFinance offers smaller transactional sizes that allow traders with any trading volume capability, including individual speculators or smaller companies the opportunity to trade the same rates and price movements as the larger players who once dominated the Forex market. All traders are able to take advantage of the many benefits offered by the Forex market vs. other markets, including fantastic liquidity and the strong trending nature of the world's primary currency exchange rates with the highly leveraged basics.