- Forex Trading
The forex (short for foreign exchange) market is one of the largest independently governed markets in the world. No single country has a say in the way the forex market works and every day billions of dollars change hands in the forex market. Forex trading is possible 24 hours a day, 7 days a week, 365 days a year, and unlike the stock exchange the forex market does not close or open for trading. Interestingly, forex trading is based purely on trust; there are no clearing houses or guarantors involved. A forex trader is forced to keep his word not because he is bound by any legal contract but because he has a reputation to keep. Arbitration committees have been set up in most countries and forex traders accept decisions of the committee if any disputes arise. However, a trader is in no way legally bound to accept the arbitration committee’s decision
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