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The foreign exchange market or the currency market is the largest financial money market in the world. In this market the currencies are bought and sold against one another. The daily turnover of this market exceeds to $4trillion US dollars.

The foreign exchange market is primarily an over the counter market. This means that the trading of currencies takes place through telephones, telexes, the Reuters monitor or through internet and not on the trading floor of an exchange.

The principal “market-makers in the forex trading market are the major international banks. The five main participants of these markets are the large multinational companies, consumers, central banks, investment banks and the speculators.

The price makers of this forex trading market are the central banks and the investment banks.

Extending from Tokyo and Sydney in the east to New York and San Francisco in the west, the international foreign exchange market spans almost all the time zones. It is virtually a 24-hour market. 

Speculative transactions account for more than 95% of the trading volume on the forex market. Irrespective of how one looks at the speculation, it cannot be gainsaid that if the turnover is not large the forex trading market would be patchy and discontinuous.

Global macroeconomic conditions and the actual monetary flows lead to the fluctuation in the exchange rate. In the forex trading each pair of currencies makes as single product as currencies are traded at one another.

The currencies in forex trading are always quoted in pairs and are traded through a dealer, for example EURO and the US DOLLARS (EUR/USD), or the British pound and Japanese yen (GBP/JPY).This is done because you are simultaneously buying one currency and selling another currency.

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The trading in forex market takes place through a broker. For this the brokers get their compensation through the bid-ask spread method. The bid is the selling price and ask is the buying price. The bid price should always be lower than the ask price.

The difference between the bid price and the ask price is the spread. The spread is the bread and butter for the broker.

No other commission, clearing fees, exchange fees or any type of government fees is charged during the trading in the forex trading session.

In forex trading there are no middlemen involved. You have to trade directly according to the market conditions responsible for the pricing of particular currencies pair.

The forex trading market is a virtual 24-hour market session. So according to your suitable timing you can buy or sell your currencies. This is the best source of earning for those who want to do something on part time basis. There is no opening or closing bell as in case of the stock market.

As currency trader in forex trading you does not require huge amount of money. $300 dollars or less than that too can start up your business. The brokers provide with mini and micro trading facility too.

For having a forex trading business you just have to require a computer and a high speed internet connection.

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