Forex, usually abbreviated as FX, actually tradeonlinemarket for Foreign Exchange. In the beginning there were fixed exchanged rates but in 1971 these changed to floating rates and market took another shape. Now this market has the largest number of participants in the world. Unlike other markets it works 24 hours a days 6 days a week. One can participate in market any time from any part of the world. This article will help you to understand the current working of Forex market.
Many traders trade during the day while a large number of participants are night traders. Total turn out of this market in a single day is in trillions. This huge money exchange has made trading in this market an exciting and adventurous task. Many people come in this market to earn big profit in short time, but it is not that easy. One has to be very consistent and hard working if he wants to be successful in Forex.
In the beginning banks were the only participants of this market. Common individual was unable to participate as a huge amount of money was required to join the market. This market was called interbank market, as commercial banks, central banks and other investments banks were the only participants. After that a few wealthy people and rich companies joined the market. But with the passage of time, terms and conditions of the market changed and now it is accessible for the general public as well.
But basically we can divide the participants in tree groups.
o General public or individual traders constitute the group one. A large number of participants belong to this group.
o Banks, like central banks, commercial banks and other banks make the second group.
o Third group is of big companies. Which include import/export companies and other corporations.
So, you can participate in Forex trading market either you are a corporation, a bank or an individual. Try your self or buy an automated Forex robot to assist you. Trade during the day or become a night trader, choice is yours as market offers every opportunity and accommodates everyone. Try your luck!
