Blockchain Glossary

Foreign Exchange (Forex or FX)

Published on August 30th, 2021

Foreign Exchange, also known as Forex or FX, is an over-the-counter market. Forex trading is how individuals, banks, and businesses convert one currency into another. It is considered the largest liquid market in the world.

Unlike stocks and commodities, there is no central market for trading forex. Instead, a forex market trades via a global network of banks, dealers, and brokers. This means forex trading can take place 24 hours a day, 5 days a week.