![what is forex market](https://static.wixstatic.com/media/a24352_fa6c7494f27f430897cd37e343c10be3~mv2.png/v1/fill/w_49,h_27,al_c,q_85,usm_0.66_1.00_0.01,blur_2,enc_auto/a24352_fa6c7494f27f430897cd37e343c10be3~mv2.png)
Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates.
Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily.
Forex market is a vital element for a global economy because it provides capital exchanges between the countries.
![forex market participants](https://static.wixstatic.com/media/30ad3d_accf73067be2451b97628e764d7914e2~mv2.jpeg/v1/fill/w_147,h_141,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/30ad3d_accf73067be2451b97628e764d7914e2~mv2.jpeg)
The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors.
🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds:
📎Total transactions value reaches 3.52 billion US dollars.
📎 1.15 billion dollars of spot transactions.
📎 1.65 billion dollar of exchange swaps.
📎 Total transactions value involving USD reaches 3 billion US dollars.
📎 Total transactions value involving EURO reaches 1.1 billion US dollars.
📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value.
![forex market trading volumes](https://static.wixstatic.com/media/30ad3d_ce629ea3f7454957962f995b38aecf5c~mv2.png/v1/fill/w_123,h_91,al_c,q_85,usm_0.66_1.00_0.01,blur_2,enc_auto/30ad3d_ce629ea3f7454957962f995b38aecf5c~mv2.png)
It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders.