Participants who partake in currency trading in the foreign exchange market, commonly known as currency traders, can be central banking and commercial banking institutions, investment firms, various companies and even small time individuals, all who can be located anywhere in the world. When I say that the foreign exchange market is a decentralized financial market, I mean there is no singular location where all currencies are traded. With an estimated four and half trillion dollars of value being traded everyday, the foreign exchange market is a decentralized network of financial institutions where all the world’s currencies are traded. One example of a centralized location where stocks are traded is the New York Stock Exchange.


Unlike the stock market, which is open for six to seven hours per day five days a week, the foreign exchange market is open twenty-four hours per day, five days a week.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Officials said trading in the eurodollar exchange rate market is five times larger than trading on all global stock exchanges combined. Department of Justice in 2012, but the non-prosecution agreement was terminated after its role in the foreign exchange scandal came to light.


Foreign exchange rates affect the price of imported goods, company earnings and many investments held by pension funds and others.



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