FX overview
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The global foreign exchange (forex, FX) market is the largest financial market in the world, with average daily turnover over $3 trillion. By comparison, the New York Stock Exchange generates approximately $60 to $80 billion in daily traded volume. The forex market is an over-the-counter market comprised of participants from all parts of the world.
Until the late 1990’s, only financial institutions, banks, and multinational corporations participated in the market for foreign exchange. While the forex market is still dominated by these participants, retail investor interest is growing because of its size, liquidity, availability and leverage capacity. Additionally, advances in technology have been a contributor in making forex available and accessible to retail investors.