Countries around the
world trade their currencies on forex markets
Forex market trading is trading money, currencies worldwide. Most all countries around the world
are involved in the forex trading market, where money is bought and sold, based on the value of that currency at
the time. As some currencies are not worth much, it is not going to be traded heavily, as the currency is worth
more, additional brokers and bankers are going to choose to invest in that market at that time.
Forex trading does take place daily, where more than five trillion dollars (as in 2019) are moved
every day - that is a huge amount of money. Think about how many millions (one million) it does take to bring about
a total of a trillion and then consider that this is done on a daily basis - if you want to get involved in
where the money is, forex trading is one 'setting' where money is exchanging hands daily.
As the largest international market, currency
trading volume alone is usually larger than all other markets combined. Two trillion dollars are
traded every day in currencies. (Image by
The currencies that are traded on the forex markets are going to be those from every country around
the world. Every currency has it own three-letter symbol that will represent that country and the currency that is
For example, the Japanese yen is the JPY and the United Stated dollar is USD. The British pound is
the GBP and the Euro is the EUR. You can trade within many currencies in one day, or you can trade to a different
currency every day.
Most all trades through a broker, or those any company are going to require some type of fee so you
want to be sure about the trade you are making before making too many trades which are going to involve many
Trades between markets and countries are going to happen every day. Some of the most heavily trades
occur between the Euro and the US dollar, and then the US dollar and the Japanese yen, and then of the other most
often seen trades is between the British pound and the US dollar. The trades happen all day, all night, and thought
out various markets. As one country opens trading for the day another is closing. The time zones across the world
affect how the trading takes place and when the markets are open.
When you are making a transaction from one market to another, involving one currency to another you
will notice the symbols are used to explain the transactions. All transactions are going to look something like
this EURzzz/USDzzz the zzz is to represent the percentages of trading for the percentage of the transaction. Other
instances could look like this AUSzzz/USD and so on. When reading and reviewing your forex statements and online
information you will understand it all much better if you are to remember these symbols of the currencies that are