The forex market, also known as the foreign exchange market, is a global decentralized market where currencies are traded. It is the largest and most liquid financial market in the world, with a daily trading volume of over $5 trillion.
The forex market operates 24 hours a day, five days a week, across all time zones, with no central marketplace or physical location. Instead, it is an electronic network of banks, financial institutions, and individual traders, all of whom are connected through online platforms and trading systems.
In the forex market, currencies are traded in pairs, such as the EUR/USD or GBP/JPY. Each currency pair has a bid price and an asking price, which represents the amount that buyers are willing to pay and sellers are willing to accept, respectively.
The forex market is influenced by a wide range of economic, political, and social factors, including interest rates, inflation, geopolitical events, and market sentiment. Traders in the forex market can make profits by buying a currency at a lower price and selling it at a higher price, or by selling a currency at a higher price and buying it back at a lower price.