The foreign exchange (currency or forex or FX
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The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks. Retail traders (individuals) are a small fraction of this participate indirectly through brokers or banks. Exchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts. - [Read more]