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The FX market is a global decentralized

The FX market is a global, decentralized market where the world’s currencies change hands. Exchange rates change by the second so the market is constantly in flux
Only a tiny percentage of currency transactions happen in the “real economy” involving international trade and tourism like the airport example above.Instead, most of the currency transactions that occur in the global foreign exchange market are bought (and sold) for speculative reasons.Currency traders (also known as currency speculators) buy currencies hoping that they will be able to sell them at a higher price in the future.
Compared to the “measly” $200 billion per day volume of the New York Stock Exchange (NYSE), the foreign exchange market looks absolutely ginormous with its $6.6 TRILLION a day trade volume.