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Foreign Exchange Market Background

The Foreign Exchange market refers to the "Forex" or "FX" market, it is the largest financial market in the world, with a daily average turnover of about US$1.5 trillion. In comparison, the daily volume of the New York Stock Exchange is about US$30 billion per day. Market participants range from large multinational corporations, global money managers, registered dealers, international money brokers, and futures and options traders, to private speculators.

There are 3 main reasons to participate in forex trading:

1. Forex trading can be used to facilitate an actual transaction. This happens when international corporations convert profits made in foreign currencies into their domestic currency.

2. The second is corporate treasurers and money managers get involved in forex trading in order to hedge against unwanted exposure to future price movements in the currency market. This is to reduce the risk of high fluctuation of foreign currency that will eat into the profits of any foreign stock gains at that country.

3. The third and more popular reason is speculation for profit. As you know, forex trading offers up to 1:400 leverage. So, no doubt that today it is estimated  less than 5% of all trading in the forex market is actually facilitating a true commercial transaction. But the real motive is to make profits using the high leverage power provided in forex trading.

 

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