The foreign exchange market (called as well currency or forex or just FX) exists when one currency is traded for another.
By all means this is the largest financial market on the globe. It includes trading between central banks, governments, significant banks, currency speculators, multinational corporations and many other institutions and financial markets.
The importance of these operations is described by the average daily trade which is over USD 3 trillion. The individuals are just a small fraction of this market and they are limited only to indirectly transaction through brokers or banks.
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