Forex: What is it?

The foreign exchange market, or "Forex" or abbreviated as "FX" is the largest financial market in the world, the daily volume of transactions exceeds 1,000 Billion USDollar is equivalent to 30 times the total of all scholarships in America.

Unlike other financial markets, the forex market has no physical center
or centralized place. It is an OTC market where buyers and sellers (banks,
corporations, private investors, etc. ..) do business. An open market 24/24,
opens each day in Sydney and moves around the globe. Each trading day
begins first in Tokyo, then London and finally New York. Unlike other
financial markets, investors can respond quickly to any time
fluctuations caused by economic, social or political
anytime, day or night. The large number and diversity of
stakeholders make it difficult for government to control the market direction.
The unmatched liquidity and global activity make forex a 24/24 market
ideal for active traders.
Traditionally the forex market was only available to larger
Investors treated the currencies for commercial and institutional
through banks. Now trading platforms, as RTFXTM Pro
allow smaller financial institutions and retail investors access to
same level of liquidity as the major international banks, offering access to
interbank market.
In the forex market, currencies are always priced in pairs. All
transactions resulting simultaneous buying of one currency and selling another.
The goal of treating the foreign exchange market is to change one currency against
another, hoping that the market moves so that the currency you have
purchased from taking the value compared to the one you sold. If you purchased
currency and the price appreciates in value, you must sell the currency for
take your profit. An open position is a currency pair that you either
bought / sold and you have not sold / bought back the equivalent amount to
effectively close the position.
The first currency in the currency pair is referred to as the "base currency"
and the second currency is the counter or quote currency. This means that prices are
expressed as a unit of the first currency quoted per the other currency quoted in the pair
money.
Like all financial products, market quotations of the changes include
"Application" and an "offer". Demand is the price at which a market maker (Realtime
Forex) is willing to buy (and clients can buy) the base currency in exchange
the quote currency. The offer is the price at which a market maker (Realtime Forex) will sell
(Where customers can buy) the base currency in exchange for the quote currency. The
difference between supply and demand is known as the spread.