Foreigh Exchange(FOREX) is the arena where a nation's currency is exchanged for that of another.The foreign exchange market is the largest financial market in the world,with the equivalent of over $1.9 trillion changing hands daily;more then three times the aggregate amount of the US Equity and Treasury markets combined.Unlike other finacial markets,the Forex market has no physical location and no central exchange(off-exchange).It operates through a golobal network of banks,corporations and individuals trading one currency for another.The lack of a physical exchange enables the Forex market to operate on a 24-hour basis,spanning from one zone to another in all the major financial centers.
Traditionally,retail invertor's only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes.Trading volume has increased rapidly over time,especially after exchange rates were allowedto float freely in 1971.Today,importers and exporters,international portfolio managers, multinational corporations,speculators,day traders,long-term holders and hedge funds all use the FOREX market to pay for goods and services,transact in financial assets or to reduce thr risk of currency movements by hedging their exposure in other markets.
MG Financial,now operating in over 100 cointries,serves all manner of clients,comprising speculators and strategic traders.Whether it's day-traders looking for short-term gains,or fund managers wanting to hedge their non-US assets,MG's DealStation Tm allows them to participate in FOREX trading by providing a combination of live quotes,Real- Time Charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.
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