Many people have seen or heard words such as "Today's US dollar / yen in the Tokyo market is ..." or " The closing price of the US dollar / yen in the NY (New York) market is ..." in newspapers and news. think. You can imagine that foreign exchange has exchanges in Tokyo and NY, and they are traded there.
However, forex does not have a physical place like an exchange where investors and financial institution orders are gathered together, and prices are determined on the spot.
Instead, there is what is called the "interbank market". It's like a collection of limited market participants, such as central banks, financial institutions around the world, and foreign exchange brokers, using the Internet and telephone lines to raise and manage each other's funds.
As a general rule, foreign exchange is always traded 24 hours a day on weekdays except Saturday and Sunday, centering on this interbank market. Unlike stocks, there is no fixed trading time, and basically you can only trade at that time. That is why the forex market is said to be a "sleepless market".
As long as the exchange rate is moving, FX that trades using the price movement of the exchange rate can basically be traded 24 hours a day, anytime. One of the attractions of Forex is that you can easily trade at your favorite time according to your lifestyle.
