The forex market stands as the largest financial market globally, surpassing even the stock market, boasting a staggering daily volume of $6.6 trillion, as per the 2019 triennial central bank survey of fx and OTC derivatives markets.

In essence, forex, or foreign exchange, operates as a network where buyers and sellers engage in currency transactions at mutually agreed-upon prices. It serves as the conduit through which individuals, corporations, and central banks convert one currency into another – a process familiar to anyone who has engaged in international travel. While many forex transactions serve practical purposes, a significant portion is driven by the pursuit of profit.

The sheer volume of currency exchanged daily contributes to the remarkable volatility witnessed in certain currency pairs. It is this volatility that renders forex trading alluring to traders, as it presents opportunities for substantial profits.