What Is Forex? The Basics for Novice Traders

Forex is the foreign exchange market, also known as the FX or currency market, which is a mechanism for the global trading of currencies. The original purpose of the Forex market was to facilitate international trade by enabling a business to trade and pay for goods in a foreign currency. However in recent times the Forex market has developed to support the speculative trader who uses the market and make short term profits from the movement of the currencies.