Forex trading is the buying of one currency and the selling of another at the same time. The trading is always done in pairs. There is no physical market where the exchange takes place. The transaction occurs between banks, corporations and individuals. One entity is buying and the other selling. The market is open 24 hours a day and only closes for 48 hours from Friday to Sunday.
About 90% of the foreign exchanges are for profit, while 10% are completed by companies who have sold their goods and services in another country and want to convert that currency back to their own.
The internet has made it possible for individuals to compete in forex trading through online trading platform and using a Forex broker. Minimum accounts can range from a few cents to thousands of dollars.
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