Forex currency trading guides for beginners - What is Forex Series
Size and Liquidity of the Forex Market
Unlike the NYSE, the forex trading market (the spot market which we trade) has no physical location or a centralized exchange.
The fx trading market is reffered to as an Over-the-Counter (OTC) or an "interbank" market because the entirety of the maket is run electronically and amongst a netework of banks. The market runs on a 24 hour period with no break in trading.
The forex spot trading market is by a large distance the largest and most widely traded financial market in the world. Trade is carried out by a very large number of individuals or companies.
In this market, stake holders choose who they want to trade with based on trading conditions, prices and the reputation of the trading partner.
The image belwo presents a representation of the top 10 most widely traded currencies.
The U.S dollar is the most widely traded currency with almost 85% of the market share. This is followed by the Euro and the Yen. As you can see from the list, the "majors" are the most widely traded currencies.

It is of great importance to know that, most forex trade is based entirely on speculation. This means that most of the trading volume is from currency traders that buy and sell based on the intraday price changes. The speculative trading part of the forex market is estimated to be account for over 91% of the market volume.
This means that the liquidity in the forex market is extremely high. You will always find a buyer or a seller for your currencies and transactions are always instant.
However be aware that the liquidity might be different depending on the currency pair or time of day the trade occurs.
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