Forex:
Foreign Exchange - 'FX "foreign exchange" is an international financial market where currency exchange is performed. It was founded in 1976, when all countries of the world abandoned the gold standard and moved to the Jamaican system, where the exchange rates are set not by the state, but by the market. Forex became simply necessary for the normal functioning of the world economy and for the exchange of capital between different countries.
Sometimes traders call forex a currency exchange. But forex is not. This is an international over-the-counter market. It is not tied to a specific place of bidding, since it is a virtual market, whose participants can make transactions with currency from anywhere in the world.
Sometimes traders call forex a currency exchange. But forex is not. This is an international over-the-counter market. It is not tied to a specific place of bidding, since it is a virtual market, whose participants can make transactions with currency from anywhere in the world.
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