Forex Market

Biggest market around

Word "Forex" comes from shorting up "foreign exchange" and it is used to describe currency spot market mostly but also currency futures and options market. This is the biggest and most fluent global market. It is pretty similar to other markets if it comes to its mechanics but it has way much more volume. This high volume comes from nature of it. All banks are contributing to it together with financial companies, institutions, individual speculators and investors and even import/export companies. Such a high volume guarantees stable spreads during working week and contract execution with relatively small slippages even in aggressive price movements.

OTC Market

No borders, no limits

Forex is over the counter market. It means that there are no agreed centres or exchanges where you need to be connected in order to trade. It is a big world wide network, letting you trade 24 hours per day usually from Monday till Friday. Each trading day starts in Wellington then it travels with sun around the globe. After Wellington there is New Zeland then Sydney, Tokio, Hongkong, Singapur, then Bahrajn and the rest of middle east. Then comes London with the rest of Europe and finally New York and rest of USA. Each and every person can trade this market without any limitations no matter where he or she lives and on what hour chooses to enter trades.  

Forex trading hours

Trading week

As most markets Forex is closed during weekends. Trading hours may vary depending on working hours of brokers which usually facilitate trading for individual traders but generally it is from Sunday 6:30PM EST through Friday 4PM EST.