PROOF that America still thinks FOREX means ON-EXCHANGE.

PROOF THAT THE WORD FOREX IS NOT RECOGNIZED TO MEAN OFF-EXCHANGE SIMULATED TRADING.

 

LIKEWISE OCT (OVER THE COUNTER TRADING) IS NOT THOUGHT TO MEAN OFF-EXCHANGE SIMULATED TRADING EITHER.

‘Investopedia explains Forex – FX’

There is no central marketplace for currency exchange; trade is conducted over the counter. The forex market is open 24 hours a day, five days a week and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.

The forex is the largest market in the world in terms of the total cash value traded, and any person, firm or country may participate in this market.

Definition of ‘Forex – FX’

The market in which currencies are traded. The forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world.

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Definition of ‘Foreign Exchange’

The exchange of one currency for another, or the conversion of one currency into another currency. Foreign exchange also refers to the global market where currencies are traded virtually around-the-clock. The term foreign exchange is usually abbreviated as “forex” and occasionally as “FX.”

The foreign exchange market (forex, FX, or currency market)

Is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. EBS and Reuters’ dealing 3000 are two main interbank FX trading platforms. The foreign exchange market determines the relative values of different currencies.[1]

In a typical foreign exchange transaction, a party purchases some quantity of one currency by paying some quantity of another currency.

forex trading

The exchange of currencies between two or more countries on a recognized market. Forex trading is a popular type of investing because it provides investors with the ability to make quick profits due to small changes in one country’s currency. Due to the time differences around the world, forex trading takes place continuously because as one market closes another one opens.
Over-the-counter (OTC)
A decentralized market (as opposed to an exchange market) where geographically dispersed dealers are linked by telephones and computer screens. The market is for securities not listed on a stock or bond exchange. The NASDAQ market is an OTC market for US stocks. Antithesis of listed.
Over-the-Counter Market
Describing a security or trade that does not occur on an exchange. Very often, the OTC market includes securities that are very small and do not trade on an exchange because they do not meet market capitalization requirements. OTC securities may theoretically be traded informally (one may stand on a street corner and sell his/her stocks), but the term usually refers to securities traded through a dealer network.
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