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Main Forex Market Participants A few decades ago, the main participants in the Forex market were the commercial banks that would take positions against other banks for a wide variety of reason (speculation, hedging, etc.), and firms (exporters and importers of goods and services) that would use banks for their foreign exchange transactions. All this activity accounted for about 70% of the overall volume generated in the Forex market. Direct/Indirect Quotes and Base/Counter Currency Forex Pairs Every local currency can be quoted directly or indirectly against other currencies (most of the time the US Dollar): Direct quotation: Amount of local currency that is needed to buy one unit of the foreign currency (most commonly the USD) The Forex Market What is The Forex Market? The Forex market is an acronym of The Foreign Exchange Market also called The Currency Market. What is traded in the Forex Market? Money, as simple as that!

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