Forex or the Foreign Exchange Market is the greatest trade market in the world. The trade of Forex is greater than the trade of all other financial markets of the entire world.
The daily trade of Forex of $5 trillion marks a distinguishable position in financial markets. As it has no central location, so you can trade by phone or internet. You don’t need to be at a certain place to conduct trade.
The market remains open throughout the day for 5 weekdays. There are three major regions for trade on Forex. These are:
- Australasia Area
- European Region
- North American Region
The trade on Forex starts with the start of the Australian financial market, it continues until the markets of Europe start trade, and then the trade is conducted in the financial market of North America. Thus the financial market of one region closes and the trade market of other region is opened and the cycle of trade keeps going on.
Busiest trading time
When the timing of these markets overlaps then those few hours become the most active period of the day. There are two most active time zones for Forex trading i.e London and New York. The timing of these two overlaps in the London afternoon and New York morning and these hours are considered the most active and busiest forex trading time period.
In the case of Forex Trading, you do not have to wait for certain trade hours to buy or sell currencies. As trade is conducted throughout the world on Forex so you can always find a buyer from the other corner of the world. International trade also makes it an attractive opportunity for advancement. Traders in different time zones are always there to meet the requirements of the trade.