Forex
Forex, or foreign exchange, is the market where one currency is traded against another, such as EUR/USD, the price of one euro in US dollars. By daily turnover it is the largest financial market.
Forex has no single central exchange: banks, dealers and electronic platforms quote prices to each other and to brokers’ clients. It trades around the clock from Sunday evening to Friday evening, New York time. Banks, companies paying abroad, central banks and retail traders all take part.
Learn more: which markets exist.