What is forex? [Video]
|What is forex trading?
Forex, FX – short for ‘foreign exchange’ – is trading currencies of different countries against each other.
Forex is one of the largest global financial markets for trading various currencies.
It assists international trade and investments via foreign exchange transactions.
According to BIS Triennial Central Bank Survey 2016, the daily global forex transaction volume achieves $5.1 trillion.
The top five forex trading countries are:
1. The United Kingdom
2. The United States
3. Singapore
4. Hong Kong SAR
5. Japan
Their forex transaction volume occupied 70% of the global forex trading.
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