What Are Currency Pairs

The network of exchanges where various entities exchange different government-issued fiat currencies is referred to as the Forex markets. This global marketplace is recognized as the financial market with the highest levels of liquidity. There is around $6 trillion in volume traded every day in the Forex market, compared to only $30 billion for the NYSE.

There is no single centralized location for the Forex markets. Transactions, which are over the counter (OTC), are facilitated by various exchanges and financial institutions located all over the world. The Forex market revolves around the four major financial centers of the world located in New York, Sydney, London, and Tokyo. Since they are all in different time zones, you will be able to trade Forex 24 hours per day since at least one of these trading hubs will be operating at any given time.

Valuations in the Forex markets are based upon the relative strength of the currencies within a traded currency pair. The health of the issuing country’s economy and decisions made by the regulation central banks are the main drivers behind the price fluctuations. Iron500 offers you a wide choice of currency pairs to trade so select your preferred pair and make your trade.