![]() ![]() This means that all transactions occur via computer networks among traders worldwide rather than on one centralized exchange. ![]() Instead, currency trading is conducted electronically over the counter (OTC). This international market's most unique aspect is that it lacks a central marketplace. The foreign exchange market is where currencies are traded. Some market participants use forex to hedge against international currency and interest rate risk, speculate on geopolitical events, and diversify portfolios, among other reasons.Forex markets exist as spot (cash) and derivatives markets, offering forwards, futures, options, and currency swaps.For example, EUR/USD is a currency pair for trading the euro against the U.S. Currencies trade against each other as exchange rate pairs.Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the world's largest and most liquid asset markets.The foreign exchange (forex or FX) market is a global marketplace for exchanging national currencies. ![]()
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