The word "Forex" refers to the foreign exchange market or the global exchange of foreign currencies, and it is an abbreviation of the economic term from the foreign language "Foreign Exchange Market", meaning "foreign exchange market", which is a market that extends all over the world where currencies are exchanged by several participants, Such as global banks, international institutions, financial markets, and individual traders.
Financial analysts estimate the daily volume of currency trading in the forex market at about 5 trillion dollars (5 thousand billion dollars a day), as thousands of millions of dollars are bought and sold every second. As an example, a survey carried out by the Arab Advisors Group showed that about 70,000 Jordanians trade in foreign currencies on margin (Forex) in amounts close to $ 787 million.
Trading is done by buying and selling the main currencies that possess the main share of operations in the forex market, which are the US dollar (USD) the base currency, the European euro (EUR), the British pound (GBP), the Swiss franc (CHF), the Japanese yen (JPY) and the Australian dollar (AUD) ) And the Canadian dollar (CAD)) and other Arab and foreign currencies.
Economists consider that currency markets are regular markets that technology has created and facilitated its spread in recent times, and because the Forex market has been affected by technology, this market has been able to attract large groups of investors during the past years thanks to the spread of technology and means of communication.
With a liquidity of more than 5 trillion US dollars traded in the market daily, it can be said that the forex market is the most liquid in the world, and what most distinguishes the forex market is that it does not have a specific location through which currencies are traded, which makes it one of the most flexible financial markets, This is because it is available via the Internet to any investor from all over the world.
The Forex market includes many international financial bodies and organizations such as central and commercial banks, governments, financial bodies, international investors, local investors and individual traders. Forex traders rely on the Internet to follow the price movements of the currency pairs they own, through specialized financial brokers.
In principle, this means that you can buy almost any currency as you wish, at any time when the market is open. Market opening hours are the main determinant of an advantage.
Forex markets operate 24 hours a day, 5 days a week, starting from Monday morning until Friday evening, in contrast to international public holidays.
Trading in the market begins in its global nature, first in New Zealand, then in Australia, Asia and Europe, and finally in the United States of America, allowing any time of the day or night from Monday to Friday.
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