The foreign exchange market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions.
   Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks, and are subject to forex scams. The average daily trade in the global forex and related markets currently is over US$ 3,5 trillion.

   According to many experts, the foreign exchange market will have doubled in size in just three years, this thanks to increased participation by fund managers and pension funds. A financial services research firm said it expected the total global average daily volumes on the forex market to exceed $3,000bn next year (2007). Forex volumes, which rose from $1,770bn in 2004 to $2,000bn last year, were set to rise to $2,600bn this year and $3,600bn next year.

   With these numbers you can easily realize why they say that the Forex market is a huge market that offers great opportunities for traders of all sizes.