What is Forex (Foreign Exchange)?

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for another. The foreign exchange market is the largest financial market in the world with the equivalent of more than $ 1.9 trillion changing hands daily, more than three times the aggregate amount of the equity of U.S. Treasury and mixed markets. Unlike other financial markets, the Forex market has no physical location, no central exchange (off-exchange)