During this transaction, the money you used to buy the product, which is in your local currency, would need to be exchanged to the equivalent value of the foreign country’s local currency. This exchange could be between U.S. dollars (USD) and euros (EUR) or any other currency pairs found across the globe.
There is no central marketplace where foreign exchange is being conducted. The trades are being completed electronically over-the-counter or OTC. This means that all trades are conducted through computer networks that connect traders all over the world.
Investors have varying reviews and opinions regarding the foreign exchange market. Other people’s experiences, whether good or bad, can be read in the reviews they write on various forums and websites.
The market is also opened 24 hours a day, five days a week, almost every brokerage firm, like Exness, offer their services during this time period.
You can easily conduct the trades in major financial centers of London, New York, Zurich, Paris, Tokyo, Singapore, Sydney, and Hong Kong – across almost every time zone.
With this, even if the trading day in the U.S. ends, the forex market in Tokyo or Hong Kong begins anew. You can then see that the forex market is active almost any time of the day with the constantly changing price quotes.
Post a Comment