Forex refers to the foreign exchange markets where currencies are traded in pairs. The four majors and most traded pairs are EUR/USD, GBP/USD, USD/JPY and USD/CHF.
The main players of the forex markets are banks, hedge funds, corporations and financial institutions. Finally, to retail investors.
As it is a 24-hour market and over $3 trillion are traded daily, there are enormous profit to be made if you know how to play the game to win.
Furthermore, ability to go long(buy) or short(sell) anytime is a tremendous advantage.
This market gives huge leverage of up to 400 times. The transaction cost is normally zero if done with market markers or a small amount of comission are charged with Electronic Network Communication (ECN).
Mostly, charting software for technical analysis are given free.
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