FX, or foreign exchange, refers to the global marketplace where currencies are traded. It operates 24 hours a day, allowing participants to buy, sell, and exchange currencies at current or determined prices. The FX market is the largest financial market in the world, with a daily trading volume exceeding $6 trillion. Traders in the FX market include banks, financial institutions, corporations, and individual investors. They engage in currency trading for various reasons, such as hedging against currency risk, speculating on price movements, or facilitating international trade. The value of currencies is influenced by economic indicators, geopolitical events, and market sentiment.