Forex can be traded in various ways, such as

i)                   simplest form of trading

ii)                  it gives you high liquidity

iii)                spread difference is not so big here

iv)               it runs 24 hours

v)                availability of free tools, like charts, economic calendar and so on

 It’s a pair of a major currency with a currency of a developing nation, such as USD/INR, being less traded, here liquidity generally tends to be very low and transaction is also very high

 Currency pairs that don't contain the USD are known as minor pairs or cross-currency pairs or simply as the "crosses.” The most actively traded crosses are derived from the three major non-USD currencies: EUR, JPY, and GBP.

Major currencies are those which enjoy a higher turn over in the Forex market than other currencies, being heavily traded; these currencies give you excellent liquidity which in turns increases volatility….. The single most important factor for winning and loosing the game!
 In the following table we can see all the heavily traded currencies viz, major currencies, also notice the nomenclature, every currency has a three letter name, like United States dollar is called USD, here first two le...

The foreign exchange market (forex, FX, orcurrency market) is a global, worldwide decentralized over-the counter financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.

The primary purpose of the foreign exchange is to assist international trade and i...