What is Forex?

The foreign exchange market (Forex or FX) is the world's largest and most liquid financial market, operating 24 hours a day, 5 days a week. Trillions of dollars are exchanged daily.

Currencies are traded in pairs — for example EUR/USD, GBP/USD, USD/JPY. The first currency is the *base currency*, the second is the *quote currency*.

When you buy EUR/USD, you are buying Euros and selling US Dollars simultaneously.