According to the Bank for International Settlements (BIS), the preliminary global results from the 2022 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged US$7.5 trillion per day in April 2022. This is up from US$6.6 trillion in April 2019. Measured by value, foreign exchange swaps were traded more than any other instrument in April 2022, at US$3.8 trillion per day, followed by spot trading at US$2.1 trillion.
Forex trading, short for foreign exchange trading, is the process of buying and selling currencies in the foreign exchange market with the goal of making a profit. Traders speculate on the relative value of one currency against another, aiming to profit from changes in exchange rates. It's one of the largest and most liquid financial markets globally, involving banks, financial institutions, governments, corporations, and individual traders. Forex trading occurs 24/5 due to global time zone differences.
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