The Forex market, often known as the FX market, is where currencies are exchanged. It is the world's sole truly continuous and uninterrupted trading market. Currencies are exchanged in the foreign exchange market, a worldwide marketplace operating 24 hours a day, Monday through Friday, with continuously changing price quotations. This is due to a number of factors such as interest rates, market dynamics, and geopolitical threats that impact currency supply and demand.
All forex trading is done over the counter (OTC), which means there is no physical exchange (as there is for stocks), and the market is overseen by a worldwide network of banks and other financial organisations (instead of a central exchange, like the New York Stock Exchange). Foreign exchange, being the world's biggest and most-traded financial market, provides several chances for individuals seeking the highest volumes and liquidity.
Currencies are traded in pairs, with the first currency specified in a forex pair known as the 'base' currency and the second currency known as the 'quote' currency. All currencies are assigned with a three-letter identifier, similar to the ticker symbol of a stock. While there are more than 170 currencies in the world, the US dollar is engaged in the great bulk of forex trading, therefore knowing its code: USD is extremely useful. The euro, which is accepted in 19 European Union nations, is the second most popular currency in the forex market (code: EUR).
Other prominent currencies are the Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), Swiss franc (CHF), and New Zealand dollar (NZD). Every forex transaction is stated as a combination of the two currencies being exchanged. The following seven currency pairings, known as the majors, account for around 75 percent of forex trading:
Viewmaxfx provides commercial and institutional clients with a wide range of professional services as well as access to the global foreign exchange markets. Veteran FX teams offer rewarded advising, execution, and clearing services in almost all trading currency pairings and derivative products.
Viewmaxfx provides commercial and institutional clients with a wide range of professional services as well as access to the global foreign exchange markets.
ViewmaxFX provides Forex derivatives on a wide range of currency pairings with great trading circumstances such as narrow spreads and rapid execution, all while benefiting from tomorrow's cutting-edge technology!
Viewmaxfx's Risk Advisory specialists take a consultative approach to their clients' FX risk management needs, which include: