Definition-In a foreign exchange market different currencies are traded on an electronic platform which has no fixed location, but allows you to buy and sell these currencies on a 24 hour basis, from Monday to Friday throughout the year. This is what is generally referred to as forex trading. The Internet has made forex trading very simple and people from all over the world can trade in currencies. This has made forex trading very widespread and popular.
Who is a forex trader?
The amount of currencies that are exchanged every day is about two billion dollars, and almost everyone with an inclination to trade has got into it. The individual private traders trading in the forex trading market are linked up to forex brokers who in turn are linked up to MNC's and big banks from all over the world. If you want to become a forex trader and indulge in forex trading you would have to look for an authorized forex broker. These brokers are generally authorized by statutory bodies in their country of origin and are subject to the laws in that particular country.
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