Forex ; The phrase FX is composed of the words Foreign and Exchange. Therefore, FX is the medium of exchange, in which different world currencies are traded. 
The players of the FX market are commercial banks, central banks, portfolio managers, brokerage houses, intermediaries of all scopes, insurance firms, investment banks, international funds and personal investors. There is no single headquarter for FX transactions. However, the most busy centers of FX execution are London, New York, Tokyo, Frankfurt, Singapore, Paris and Hong Kong.
FX Market is an over-the-counter (OTC) market, in which currency pairs are traded with a leverage. The FOREX transactions are executed after the prices are determined according to supply and demand.

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