The forex market is a market where currencies of different countries are traded. Currencies are essentially exchanged when you are carrying out some foreign trading or business. For instance, if you are dwelling in France and need to buy a dress from U.S., you must convert your Euro in the dollar at the current rate of exchange for this purchasing. Same is true for traveling; for example, an Egyptian tourist is happened to visit Paris. He must convert Egyptian pound into the French Euro to move around in Paris and to do shopping.
Forex trading is a must in these cases and there is no other way to carry out your selling and purchasing in the foreign market. The forex trading is carried out as a side business as well. Mostly people do it as a part-time job to earn money. The currency, which is expected to rise in price in a near future, is bought at the lesser price and will be put in the market for sale later when the currency value will rise.
In the present time, forex trading is one of the largest businesses. Forex trading is the most liquid fiscal market around the world. Forex market dwarfs all the rest of markets in magnitude. Even it leaves the stock market behind it. One of the unique aspects of forex trading includes that forex market is without the central marketplace. The currency trading is executed electronically i.e., all the forex transactions carry out not on the single centralized exchange but through the computer networks among traders all over the world. The forex market opens and works round the clock, and five days a week. The different currencies are exchanged globally in the main fiscal centers of Tokyo, New York, Zurich, Singapore, Paris, Hong Kong, Frankfurt, Sydney, and U.S. – across all the time zones. It means that if there is no trading day in Paris, the foreign exchange market in the U.S. begins anew. So, the foreign exchange market is likely to be very active every time in the day plus the price quotes vary constantly.
Hence, the forex market, on account of its ease of execution has become the popular most market around the world. People are engaging in this business and earning money easily. So, it can be easily said that forex market is on increase with each passing day.