The Forex market is a global and open market that is used to trade foreign exchange currencies. Currency exchange operations in the Forex market take place on a 24 hour basis with the exception of the weekends.
In international business, currency conversion is required on a daily basis. Global Financial Centres such as London, New York, Hong Kong act as hubs for buyers and sellers to trade in financial instruments. Typically, the income for such FX trades comes from the largest players in the financial market like BNY Mellon, Goldman Sachs and Citi. Traders deal Dollars, Euros, Yen etc. on behalf of investors (the investor profile typically being large institutions). Continue reading