2007-06-14 23:43:09 · 6 answers · asked by Imran J 1 in Business & Finance ➔ Investing
Its simple a currency exchange. You can convert US dollars to Pounds etc.
2007-06-15 00:25:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Forex is short for Foreign Exchange.
Basically exchanging one currency into another at a preset rate.
All big banks have Foreign Exchange Dealers operating out of big dealing rooms, selling/buying USdollars against Yen, Euro, Pounds Sterling. Their Motto is Sell High, Buy Low. When the dealer sells Usdollars and Buys Euro, and when the Forex market moves so that the Euro becomes stronger, than he has made money out of Nothing, when he sells back the Euro he gets more USdollars back. So the Forex Dealers are authorized gamblers working for Banks.
2007-06-15 01:03:14 · answer #2 · answered by Usialimasatu 2 · 0⤊ 0⤋
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest 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 markets currently exceeds US$1.9 trillion. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks.
2007-06-15 07:47:40 · answer #3 · answered by Chris 3 · 0⤊ 0⤋
Forex (FX) is "Foreign Exchange". It is the price set for trading one currency against another. FX is the largest market in the world. 95% of people/individuals that try to trade it lose some to all of their account balances. Don't get involved unless you've spent 6 months to 18 months studing the market and trading in general.
2007-06-15 00:57:24 · answer #4 · answered by Common Sense 7 · 0⤊ 0⤋
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2007-06-15 16:23:02 · answer #5 · answered by bijak_sinner 2 · 0⤊ 0⤋
It refers to the foreign exchange market - that is, the market in currencies as opposed to the market in equities or stocks (the stock market).
2007-06-15 00:10:24 · answer #6 · answered by CountTheDays 6 · 0⤊ 0⤋