Viewing entries tagged with 'what is forex'

What is Forex?

Posted on 16 October 2011

What is forex?

The Forex, Foreign exchange, FX, are all abbreviations for the same thing, the Forex, FX Market. The Forex Market has been around since the day the first currencies were “floated” rather than having a set value as per the Bretton Woods Accord set in place to help stabilize the world’s economies after WW2.


Since then money has been exchanged for goods, and accordingly valued as per supply and demand and hence determined the strength of each individual countries economy. Many banks, corporations, governments and highly wealthy individuals started trading, holding, and exchanging physical currencies after noticing that the value of each currency varied and could not only strengthen but also weaken.


For many years following, the market was reserved for banks, corporations, governments and highly wealthy individuals because for one to trade required large amounts of money. With the global “internet boom “the Forex, FX market took a different turn for the best, and the online Forex, FX Market was born. Now just about anyone can trade FX.


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PS: the only other “market” larger than the FX market happens to be the illegal drug market…