Where Is The Forex Market, Is It In New York?

To be accurate, the forex market is global, but yes there is a forex market in New York. Unlike other stock markets, the forex is everywhere because it has no central location to speak of.

The forex is not based or centred around one particular exchange, but is truly global and never rests. Each week day, trading on the forex kicks off in Sydney, Australia and moves around the globe in step with the time zones as each of the main financial centres start their normal business day. When the Australians complete their first hour of trading, the Japanese are starting up, then some time later London joins the action and then finally New York.

In contrast to other markets, where traders often meet face to face, the forex is a largely faceless affair as the vast bulk of trades are done on electronic network.

Because of the 24x7 nature of the forex, market changes are happening, literally, all the time. This means it is susceptible to rapid change in value movements as the market can react so much more swiftly to unfolding economic or political events almost in real time no matter time of day or night.

Forex market does have a central exchange like stock market. The FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions.