The Forex Market, short for foreign exchange market, is a global platform where currencies are traded. It operates 24 hours a day, five days a week, allowing traders to buy and sell currencies from around the world. This market is essential for international trade, as it enables businesses to convert one currency into another, facilitating transactions across borders.
In the Forex Market, currency pairs are quoted, such as EUR/USD or USD/JPY. The value of a currency can fluctuate based on various factors, including economic indicators, political events, and market sentiment. Traders use these fluctuations to make profits, making the Forex Market one of the largest and most liquid financial markets globally.