Forex.So...What is it anyway?

Forex is an acronym for foreign exchange. Forex is a market where people exchange the currency of one country for the currency of another in order to do business internationally.
Typical situations in which such currency exchange is necessary include payments of import and export purchases and the sale of goods or services between countries.
Forex has no physical location, transactions are placed via the Internet or telephone but is composed of approximately 4,500 international world banks and retail brokers around the world linked to each other around the clock via telephone, computers, and fax, creating one cohesive market.
If you want to profit by speculating on price changes you can only access this market through a Forex broker, but don't do it until you read all the informations below.
Over the past few years, currencies have become one of the most popular products to trade.
No other market can claim a 69 percent surge in volume over a three-year time frame.
According to the Triennial Central Bank Survey of the foreign exchange market conducted by the Bank for International Settlements and published in April 2007, daily trading volume hit a record of $3.2 trillion, up from $1.9 trillion in 2004. This is estimated to be approximately 50 times larger than the daily trading volume of the New York Stock Exchange and the Nasdaq combined.
Although there are many reasons that can be used to explain this surge in activity, one of the most interesting is that the timing of the surge in volume coincides fairly well with the emergence of online currency trading for you and me, which means there are opportunities for everyone joining the market.
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