The Forex market emerged at the beginning of the 1970s following the Dollar crisis many countries decided to unpeg the value of their local currencies from that of the US dollar or gold. This led to the forming of a global market on which currency could be exchanged and traded openly. Today, Forex is the largest and most liquid financial market in the world with an average daily trading volume exceeding 5 trillion USD.
Forex also differs from other markets in that it operates around the clock.