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The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency.
Today, forex trading is done mostly by banks on behalf of clients, and trading occurs 24 hours a day from 5 p.m. ET on Sunday through 4 p.m. ET on Friday. Individuals can even trade using an app ...
In floating exchange rate regimes, exchange rates are determined in the foreign exchange market, [6] which is open to a wide range of different types of buyers and sellers, and where currency trading is continuous: 24 hours a day except weekends (i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday).
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In addition to stock and bond market information, the nightly financial news usually offers information about the currency exchange rate between the U.S. dollar and various foreign currencies ...
The rise of peer-to-peer foreign currency exchange platforms and FinTech has led to disruptive P2P forex platforms that significantly undercuts traditional banks and financial institutions. Providers that use the P2P model to satisfy offsetting currency demands without an intermediary (such as a broker) has resulted in significant margin and ...
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