The Forex or foreign exchange market, is the market where one currency is traded for another. It is one of the largest markets in the world.
Forex market doesn't have any exchange center unlike the stock market. Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes.
Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter market which means there is no single universal exchange for specific currency pair.
Forex market doesn't have any exchange center unlike the stock market. Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes.
Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter market which means there is no single universal exchange for specific currency pair.
