That huge $5 trillion number covers the entire global foreign exchange market, BUT daily trading volume from retail traders (that’s us) make up between 5-6% of overall volume, or between $300-400 billion.
So you see, the forex market is definitely huge, but not as huge as the others would like you to believe. We don’t like to exaggerate. We just keepin’ it real.
Aside from its size, the market also rarely closes!
The forex market is open 24 hours a day and 5 days a week, only closing down during the weekend. (What a bunch of slackers!)
So unlike the stock or bond markets, the forex market does NOT close at the end of each business day.
Instead, trading just shifts to different financial centers around the world.
The day starts when traders wake up in Sydney then moves to Tokyo, London, Frankfurt and finally, New York, before trading starts all over again in Sydney!
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