The word "Forex" is come from foreign exchange. It is also well-known as FX. In forex trading, you buy one currency while at the same time selling another. That is, you are exchanging the sold currency for the one you are buying. The forex market is an over-counter market.
To trade the currency, the forex brokers provide currency in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Different in stocks or futures market, there is no middle exchange for forex market such as free metatrader platform. Every part of dealings occurs via touchtone phone otherwise electronic network.
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