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FOREX

FOREX is the abbreviation of FOReign EXchange market. It refers to an international foreign exchange market in which money is sold and bought freely. FOREX was launched in 1970's where only the participants of the market determine the price of one currency against the other proceeding from supply and demand.

FOREX is a perfect market as there is no external control. There is complete freedom and free competition. It is also considered as biggest liquid financial market. It operates 24 hours a day.

FOREX is also considered as more objective market because influence by a single participant is not possible. There is superior liquidity which allows the traders to either open or close positions. Similarly the time of keeping the position is also random. It has got no time limits. It can be from several seconds to even many years. Access to the FOREX market is available only to banks and larger financial institutions.

More Glossary Terms Explained here


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