Foreign exchange, also known as FOREX or FX, is the global marketplace for trading various national currencies.
In the global financial world, foreign currency exchange is a necessary aspect of everyday transactions.
For many, this can include trading and investment, whilst for others this involves converting currencies when you go on holiday.
It is one of the largest and most liquid financial markets in the world, involving banks, corporations, governments, and individual traders.
The forex market operates 24-hours a day, 5-days a week, and plays a crucial role in international trade and investment.
There is also the ability to trade currencies, which some individuals and businesses use to hedge against currency risk, take advantage of favourable exchange rates, and profit from market fluctuations.
However, it is worth noting that forex trading carries a high level of risk and requires knowledge of economic indicators, geopolitical events, and market trends.
Therefore, ensure you do your research before diving into this area with your own funds.