Foreign exchange market (FX, forex)

The foreign exchange market is a financial market in which the world’s currencies are exchanged in order to facilitate the exchange of goods and trade between countries. The foreign exchange market is commonly referred to as the forex market or the FX market.

New to forex? Watch our explainer video on the forex market or directly start with our forex beginner strategy.

Forex — who, where and when?

It is a decentralised market that trades for 24 hours a day, 5 days a week. Traders are banks, financial institutions, governments and central banks, companies, individual investors and retail traders.

The major financial trading centres around the world are London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.

The Sydney open coincides with the New York close and is often thought of as being the forex trading start of the day for recording data.

Thus, trading begins at 20:15 GMT on a Sunday and closes at 22:00 GMT on a Friday. The table below shows the trading sessions of each market and when they overlap.

Best time to trade table

Forex trading at tradimo

At tradimo, you can learn a lot about the forex market and about how to become a forex trader yourself.

If you are new to forex, we recommend that you start with our forex beginner strategy. For advanced traders, we have various learning modules and lessons about both forex trading and technical analysis.

We also have a specialised discussion forum on forex trading where you can ask any additional question you might have.

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