Its trading volume is $5.3 trillion a day, 30 times larger than that of the New York Stock Exchange (NYSE), one of the biggest stock markets in the world. The Forex market is by far the largest and most liquid financial market in the world. You can place a trade whenever your chosen platform allows, which is typically 24 hours per day from Monday to Friday. The FX market does not have official trading hours. The Forex market consists of a global network of computers which connects licenced dealers, brokers, banks and institutions. Unlike stocks and commodities, currencies are not traded at an exchange.
Where Is the FX Market Based? What Are the Trading Hours? Individual participants in the FX market are referred to as Retail Traders, while banks, corporations and large funds are called Institutional Traders. You have made a profit of S$0.10 per unit x 1,000 units = total S$100.00 profit.Īnyone can participate in Forex trading but must use a licensed broker or dealer to access the market. A week later the Singapore Dollar weakens to S$1.40 against the US Dollar and you decide to sell your currency. Forex trading is an activity where speculators participate in the global financial markets with the objective of profiting from the price movements between currencies.Įxample: Let’s say you buy 1,000 units of US Dollar when the exchange rate is S$1.30 to 1 US Dollar. Other names commonly used in the marketplace are FX and Currency.
0 kommentar(er)
