What is Forex Trading?

Forex trading, also refered to as foreign exchange trading or currency trading is a market where anyone in most countries can participate. The foreign exchange market trades between $1.9 trillion and $3 trillion a day. Basically you trade one currency for another and since currency values are always fluctuating, if you know what you are doing you can make a killing. Thousands of banks, corporations, and private individuals are involved in trading on the forex market everyday.

The top institutional traders are:
Deutsche Bank with 17% of daily volume
UBS with 12.5% of daily volume
Citigroup with $7.5 of daily volume
HSBC with 6.4% of daily volume
Barclays with 5.9% of daily volume
J.P. Morgan Chase with 5.3% of daily volume
Goldman Sachs with 4.4% of daily volume
ABN AMRO with 4.2% of daily volume
Morgan Stanley with 3.9% of daily volume

Which means, interestingly, that the top ten traders have 47.1% of the volume.
The currencies most commonly traded include:
EUR/USD
GBP/USD
USD/JPY
USD/CHF
AUD/USD
USD/CAD
NZD/USD
USD/NOK
XAU/USD
XAG/USD