Forex markets also called the foreign exchange, or FX markets are a globally decentralised marketplace for currencies trading. The markets are open 24/5, define the exchange rate for all the global currencies and include all currency trading aspects- buying, selling and exchanging. The market participants comprise banks, financial institutions, funds, corporations, retail forex brokers and individual investors. In terms of transactions, the forex markets are the largest globally, with daily volumes exceeding $6.6 trillion as of April 2019 (Source: Triennial Survey-BIS).
