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From Wikipedia, the free encyclopedia:

http://en.wikipedia.org/wiki/Foreign_exchange_market

FOREX (Foreign Exchange)

The largest financial market in the world. Daily turnover reach even 2 trillion dollars. Forex is very untypical market, because of few special futures. All transactions can be made 24h/ day. The biggest advantage of Forex is very high fluency of this market. It means that, we can buy or sell unlimited amount of currency whenever we want. Banks generate the main part of forex turnover. But there are also other financial institutions and even private people. Forex is Over The Counter market (OTC). It means that both sides via phone and/or electronic systems realize transactions. Forex is decentralized market without individual created to inspect Forex. Next unique feature of Forex are strong trends and lack of bull market and boom.