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The Global Foreign Currency Exchange Market (FX) is the world’s largest and most liquid financial market.
Companies, fund managers and banks can buy and sell foreign currencies, in varying amounts. Trading takes place virtually 24/7 over the phone and Internet and via fax.
Currently, over $1.9 trillion worth of currency is traded daily, and of this,
on average nearly 20% is attributable to online transactions, up from 15% in 2000
(Greenwich Associates, March 20,2002 Survey “Global Surge in Electronic Foreign Exchange Uptake”).
By comparison, the New York Stock Exchange would require about two months of trading volume to reach this amount.
There is never a bear market in the FX world.
The recent economic downturn in the global equity markets, has adversely affected the profitability of equity traders. A perfect complement to equity trading, foreign exchange has enormous profit potential due to the high volatility and liquidity of currency exchange rates
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