We already discussed the FX market. This is very important to know the market size before investing in the market. You must know It has no physical location and the fact that the entire market is run electronically with the network of banks. So yes this market works globally and the Traders can trade 24/5 with their Internet connection.
In this market traders trade with the most 7 major currency pairs which are quoted with the US Dollar. Because of the US dollar the most trading currency (84.9% ). On the 2nd no EURO trades at 39.1% and on the 3rd no yen at 19%.
The reason behind why the US dollar is the most floated currency in the world
- US’s economy is very Biggest in the world.
- The U.S. dollar is the supply money of the world.
- The United States has the most comprehensive & several running commercial markets in the world.
- The United States has a solid administrative regularity.
- The United States is the world’s remaining army superpower.
- The U.S. dollar is the medium of exchange for many cross-border activities.The volume of the daily basis is more than 5 trillion $. Anybody can trade Or Invest in this market.