The forex market, or foreign exchange market, is a global platform where currencies are traded. It operates 24 hours a day, five days a week, allowing participants to buy, sell, and exchange currencies at current or determined prices. Major players include banks, financial institutions, corporations, and individual traders. In the forex market, currency pairs are used to represent the value of one currency against another, such as the EUR/USD pair, which compares the Euro to the U.S. Dollar. The market is the largest and most liquid financial market in the world, with daily trading volumes exceeding $6 trillion.