The foreign exchange market is all about exchanging currencies between countries. The word market might feel similar to a small market where we get our daily needs. But in this case, it is not so. A foreign exchange market is a market that has numerous people in thousands where some import or export goods or banks or any similar thing like global investors, international travelers. These group of individualsis specially termed as foreign exchange brokers.
Like any other emergency medical shop, the foreign exchange market is never close. On a Monday morning, this market is open in Australia, Sydney, and Hong Kong. Then when Monday morning turns out to be a day, the markets in Tokyo, Singapore, Frankfurt, Bahrain, New York, London, San Francisco and Chicago opens. When it is time for the market to close in all those places, then it is finally Sydney’s turn to open the market. So all the people involved are somehow always in work somewhere or the other. It has been estimated that in a single day approximately three trillion dollars are being traded in this foreign exchange market. Which if calculated annually gives a result of six hundred dollars trillion dollars.