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Foreign Exchange Market, also known as Forex market, is a place where currencies are traded. It is a global marketplace that is accessible from all parts of the globe. In fact, it has become one the most important financial markets in the world. Simply put, the forex market operates in the same manner as the currency exchange we see abroad. One currency is purchased by selling the other currency. Due to rapid market changes, the exchange rate can fluctuate. This can have positive or negative consequences depending on how the market is moving.
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It is incredible to know that $6.6 trillion is the forex market’s total trading volume. Because more and more traders are learning about the market every day, it is steadily growing. Accessibility is another major reason for the rapid growth of the forex markets. Forex trading is easy to access for anyone even with minimal knowledge.
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