From The Free Forex Encyclopedia
Also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot", the foreign exchange market is the largest financial market in the world, used for trading and exchanging the world's different currencies. The trading occurs by simultaneously buying currency of one currency and the selling the currency of another.
With a trading volume of about $4 trillion a day, compared to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It equates to more than 3X the total combined amount of the stocks and futures markets!
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