Forex (foreign exchange) is the world's largest financial market — over $7.5 trillion is traded every single day. It is where currencies are bought and sold: dollars for euros, yen for pounds, rupees for dollars. Every international transaction involves forex.
Forex operates 24 hours a day, 5 days a week across major financial centers — London, New York, Tokyo, and Sydney. Currencies trade in pairs (EUR/USD, GBP/JPY). When you buy EUR/USD at 1.10, you are paying $1.10 for each euro.
Major participants include central banks, commercial banks, hedge funds, corporations, and retail traders. Retail forex trading has exploded with online platforms — but be warned: over 70% of retail forex traders lose money. The market is volatile, leveraged, and requires deep knowledge of global economics.