FOREX

  • FxNice
  • February 11, 2016

FOREX is an inter-bank market that was started in 1971 when global trade started to move from fixed exchange rates to floating market rates. It is a collection of purchases, executed between FOREX market representatives, that involve exchange of money between two countries with units of currencies, carried out at a predetermined rate of exchange. The currency exchange rate used in these transactions is determined by supply and demand patterns.