Market Time and Locations
In a week Forex market Open 24/5. That’s mean 24 hours / day and 5 days/ week. At 5 PM New York time on Sunday Trading starts Sydney and Singapore Market. At 7 PM open market for Tokyo and followed by London at 2 AM. US market open at 8 AM New York time. (Time based on New York Time).
Size of the Forex Market
Each day Forex trades more than US$ 1.85 trillion and is by far the most liquid market in the world. It’s equivalent with three months duration of NY Stock Exchange value in USD, as the forex making it largest and most liquid market around the world, Forex market can absorb trading volume and transaction size that beyond capacity of other market. Compare with future market , forex is much more liquidity for each day. Forex market is always liquid, this means that positions can be liquidated and stop orders executed without slippage.
Broker and Market Maker
Market maker means : The one that makes 2 way prices consistently, providing both bid and ask. Not like broker, market maker trade own capital.
From the image above we know that pairs trade in forex are enough. Traders can trade some of currency pairs provided by brokers.
Major currency pairs mostly use USD as pair for example :
Cross currency pairs are pairs without USD as pair for example :
Note: EUR=Euro GBP=Poundsterling CHF=Swiss Franc JPY=Yen AUD=Aussie $
Point or Pips Value
Point or pips value is the USD value for each point or pips. These are typical values and may vary for some brokers and market maker.
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