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The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small speculators) are a small part of this market. They may only participate indirectly through brokers or banks and may be targets of forex scams.

Market size and liquidity


The foreign exchange market is unique because of:
  • its trading volume,
  • the extreme liquidity of the market,
  • the large number of, and variety of, traders in the market,
  • its geographical dispersion,
  • its long trading hours - 24 hours a day (except on weekends).
  • the variety of factors that affect exchange rates,

Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study Triennial Central Bank Survey 2004

Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, but only accounts for about 7% of the total foreign exchange market volume, according to The Wall Street Journal Europe (5/5/06, p. 20).

Top 10 Currency Traders % of overall volume, May 2005
Rank Name % of volume
1 Deutsche Bank 17.0
2 UBS 12.5
3 Citigroup 7.5
4 HSBC 6.4
5 Barclays 5.9
6 Merrill Lynch 5.7
7 J.P. Morgan Chase 5.3
8 Goldman Sachs 4.4
9 ABN AMRO 4.2
10 Morgan Stanley 3.9

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Trading in forex markets require patience and the ability to predict what happens next based on the data given.
forexcamp (Jim Blessing) Tue, 05 Jan 2010 14:35:15 -0000
Trading in forex markets require patience and the ability to predict what happens next based on the data given.
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New blog post: Tom Strignano's Weekly Forex Analysis http://strignanoforextrading.com/blog/tom-strignanos-weekly-forex-analysis/
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FXstreet.com - Offers real-time exchange rates, forex news, currency converter, market forecasts and charts.
Meta Description: [ forex portal offers real time foreign exchange rates, forex news, currency market overview, forex trading recommendations, technical analysis and currency forecasts, foreign exchange charts, currency converter, brokers ]

International Forex Traders Affinity Group - Negotiates the best trading conditions and discounts on related products and services for its members in the forex currency market.
Meta Description: [ IFXTAG based in New York, NY USA. Not a trading company. A Group of individual traders; negotiates the best trading conditions and great discounts on related products and services for its members in the forex currency market. ]

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theFinancials.com: Currency Library - FX market reports, newsletters, quotes, historical data downloads, news, and research.
Meta Description: [ Foreign Exchange and Interest Rate market reports, free newsletters, free quotes, historical data downloads, news, research and presentation-quality charts. ]

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