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The worldwide market for the exchange of all currencies is known as the Foreign Exchange Market or for short it is referred to as the Forex, FX, or just currency market. It is a diverse and decentralized financial market for the exchanging of currencies.

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The foreign exchange market (Forex, FX, or currency market) is a global decentralized or Over The Counter (OTC) market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

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These are the main categories of participants - a geographically disperse Forex clientele - and as a consequence so is the market as a whole. In practice, the foreign exchange market is made up of a network of players clustered in various hubs around the globe.

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31/07/2008 · Forex is the buying of one currency and the selling of another concurrently. GBPUSD, EURJPY, XAUUSD, XAUEUR etc are the main and mostly traded.