What is Forex?
Foreign Exchange or Forex is a claim that can be used by monetary administrations in the form of balance-of-payments deficits in the form of bank deposits, Treasury securities, short- and long-term government securities, etc. It is the product of international trade and the means of payment of international trade settlement.
From a trading point of view, foreign exchange refers to the exchange of one currency for another currency, such as the exchange of the Japanese Yen into United States dollars, and foreign exchange transactions are also referred to as "currency pair trading" because foreign exchange transactions involve the trading of currencies in two different countries.
The investment market refers to the world's most common trading currencies as "major currencies", including the US dollar (USD), the euro (EUR), the Japanese yen (JPY), the British pound (GBP), the Canadian dollar (CAD), the Swiss franc (CHF), and the Australian dollar (AUD). Currencies other than major currencies are referred to as "secondary currencies".