Saturday, June 2, 2007
International banks are continuously providing bid and ask offers and the high number of transactions each day means there is always a buyer or a seller for any currency.Accessibility – The market is open 24 hours a day, 5 days a week. The market opens Monday morning Australian time and closes Friday afternoon New York time. Trades can be done on the Internet from your home or office.Open Market – Currency fluctuations are usually caused by changes in national economies. News about these changes is accessible to everyone at the same time – there can be no 'insider trading' in FOREX.No commission – Brokers earn money by setting a 'spread' – the difference between what a currency can be bought at and what it can be sold at.How does it work?
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