Over the last three decades the foreign exchange market has become the world’s largest financial market, with over $2 trillion USD traded daily.
The trading day begins in Sydney, Australia, and moves around the world as the business day begins in each financial center, first to Tokyo, then London, and New York — a true 24-hour market.
Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur. With a daily trading volume that is 50 times larger than the New York Stock Exchange, there is always a buyer or seller.
From 1971 until recently the owners of the forex market were banks, large corporations and brokerage firms. Individuals could invest in forex with a bank or brokerage firm who demanded on average a minimum deposit if between a half to one million dollars!
Today trading occurs over computers and telephones at thousands of locations worldwide every second of the day with much smaller deposits , making the exciting world of trading accessible to the individual day trader.