Forex - wherever one currency is traded for another, the Foreign exchange market exists. The Foreign exchange is the world's largest market, with over $2 trillion exchange volume per day, including trading between banks, multinational corporations, speculators, governments and almost every big financial market exists. A network of banks is operating the Forex market on a 24-hour basis - enabled by the lack of a physical exchange and spanning all over the world.
In the early seventies, the Forex market was established, when floating exchange rates began to appear. Controlled completely by the market's supply and demand forces, the currencies of the major industrialized nations became more freely floating. This development led to new financial tools, free market and open trade, it also led to the rise of speculators' power. The early eighties, made the movement of money easier with the advent of computers and the internet. Market became a continuum, trading through the world's biggest financial markets. Hundreds of millions of dollars, pounds, euros and yen are exchanged in dealing rooms created by large banks in a matter on seconds. Electronic brokers today trade on daily basis in the Forex market; when a single trade for tens of millions of dollars, in London for example, can be priced in a seconds. The electronic development changed the Forexmarket dramatically, with most international financial transactions being carried out for market speculations and not to buy and sell goods, with the dealers' aim: making money out of money.