Foreign exchange market

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded used for another. It is by far the major financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and linked markets currently is over US$ 3 trillion. Retail traders (individuals) are a small fraction of this market and may only contribute indirectly through brokers or banks, and are subject to forex scams.