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What does Forex mean?

Michael Nigelson


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Hello, thank you for asking! 

Foreign Exchange, also called Forex or FX, is the currency market. For instance, you can swap the US dollar for the euro. These exchanges take place on the currency exchange market also known as Forex.

The Forex market is the largest market for trading currencies, where trillions of dollars change owners every day. It is not centralized, but rather a well-connected network of banks, investors, brokers, institutions, and individual traders (retailers).

Traders trade currency pairs, where they are listed one against another, showing their relative value, according to their currency pair partner. They come with a listed price, which tells you how much a pair is worth.

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