Forex, also called foreign exchange market, is an international currency market that comprises the operations done with the floating and fixed currencies around the world. Basically, Forex is for a currency the same as real-estate is for a house. Whenever you go to exchange your currency for another one, you automatically deal with the Forex market. The specific thing about this market is that there is no central force that could handle or control the market. Forex is not controlled by any monopoly, be it a government, international agency, bank, IMF, or whatever it may be.
Traders love to speculate on currency pairs because Forex is the most liquid market in the world. You should know that the daily trading volume exceeds $5 trillion, which makes it by far the largest market in the world. Another great advantage that Forex traders love is the availability of the market – it’s open 24 hours from Monday to Friday late at night.
Today, trading currency pairs is available to all people (there used to be a restriction, and only companies with large capital were allowed to trade). To open a trade, brokers such as FiNMAXFX are ready to help. The Forex broker provides a platform on which you can open and monitor trades.
Please note that the company may change its overnight rollover rates from time to time as a result of changes in credit markets.