In human life, if they do any process or work it is called trading. For example, the boy bought a bike from a showroom that is trading only he giving is money to manger to buy bikes, housewife brought a vegetable from the supermarket that’s also trading the prices is the same but product is different. So there are different methods in trading. That Forex is one type of trading. Forex is the foreign exchange market. It did overall in the world to exchange currency in the market. But the market determines the rate of every currency to foreign exchange. It is not only for exchanging, it includes buying and selling aspect to determine the price. It is one of the most important trading markets within the world. Every year each country publishes the top10best forex broker according to his performance. In this market, the bank plays a major role. In this world, financial persons are the participant in this trading market. All financial persons will not buy they also sell the product or exchange the currency also.
So there are different perspectives in a person’s mind. This trading process only is done on weekdays. Single Products can buy or sell in the market but currency exchange will be done only in a set of pairs, it does not determine the absolute value. It always relates to other values that are already set in the market. For example ₹70 is compared to $1, etc. There are different financial institutes and they operate on several levels. Most people know only one side of the process but on the other side, it is different. Banks focus on small financial persons because they only invest in larger products in foreign exchange trading. Most dealers deal with the bank and are sometimes called an interbank market. In the world there is a large number of exchange dealers, it deals with a million dollars. Several issues will come so that a large number of dealers involved. In that forex plays its action throughout life.
This market trade internationally and invest in currency conversion also. For example, if the Indian government exports the medical product to the US. Both countries have different currency so the value of the currency speculates and evaluate its rate based on different interest. In 1970 only the modern foreign exchange trading began. In depends on countries’ restrictions in decades. Bretton Woods set rules for commercial and financial relations in industrial States in the world after World War 2. All countries decide foreign exchange rates from the previous exchange rate which is set by Bretton Woods rules. The international bank publishes the global result in 2019 for Forex trade, it shows a $ 6.5 trillion exchange rate in April 2019 and it is the huge impact in exchange trade which is compared to apr2016. The exchange rate increased more than the previous year and it was $3.5 trillion per day and followed as $2 trillion
In the world, most of the trading persons are located in the US only because it is the richest country in the world. If we live in that country we can easily get the opportunity to trade and it is one of the most economical countries so they can easily manage the economy according to its lifestyle.