The Foreign Exchange Market is the largest financial market in the world. The volume of transactions is huge. As of April 2019, the total daily trading volume was $6.6 trillion. The markets are owned and run by the Bank for International Settlements (BIS). Several trading centers exist around the world, with the largest ones being in New York, London, Singapore, and Hong Kong. The market is open twenty-four hours a day, five days a week.
Different tiers of access
There are many different tiers of access to the market. The top tier is the interbank market, which accounts for 51% of total daily transactions. Then, you have the smaller banks, which have a variety of clients, as well as the large multinational corporations that have subsidiaries in different countries. A few large hedge funds are also active on the foreign exchange market, along with some retail market makers. In addition to these institutions, the foreign exchange market is also used by a wide range of investors, including individual investors and companies that need to purchase and sell currency.
A global online network, the FX market is one of the largest financial markets in the world, with an estimated turnover of $6.6 trillion per day. The market is made up of multiple levels of players, ranging from amateur traders to large financial institutions, central banks, and multinational corporations. All of these participants rely on the market to set the exchange rates, which determine their profits. The FX market has a vast number of participants, and it can be hard to make money on it.