What is the foreign exchange market?



What drives exchange rates? Zoe Fiddes, the Head of Sales at ORE Tech comments. What is the foreign exchange market? Where is the central location of the Forex Market? The forex market is a marketplace where individuals or companies can meet to buy or sell currencies and its a huge global market and there lots of different reasons why companies might use the forex markets. For instance, a company might need to buy products abroad so they have to buy that foreign currency to do that. Or it could be an individual wanting to buy a house in France. But most of the volume in the forex markets is made up of speculation; individuals wanting to make money speculating on the currencies. Exactly what are we trying to do? What are you really selling or buying in the currency market? What are the factors that affect the prices of currencies? How do traders make money in the forex market?

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