The Foreign Exchange (Forex) Market is the largest and most active financial market in the world. Foreign exchange trading has grown rapidly since 1971.  That is the year that President Richard Nixon ended gold backing for the U.S.Dollar in international payments, thus leaving the exchange rates of the world’s currencies to float at market prices.
Since then, the expansion in the market has been massive. Daily turnover has increased from approximately 5 billion U.S.Dollars in 1977 to an estimated 1.5 trillion U.S. Dollars nowadays. To put these numbers into perspective, the estimated annual turnover in the world stock markets –which is currently 21 trillion U.S. Dollars per year –is just 16 days of the volume traded in Foreign Exchange.

The Forex Market is a twenty four hours continuous exchange that never closes. There are dealers in every major dealing center (London, New York, Tokyo, Hong Kong and Sydney). The size of the market gives the participants near perfect liquidity. Due to the advantages of sheer volume and daily volatility, the excitement of the Forex Market is unparalleled.