Forex trading, also known as foreign exchange trading, is the buying and selling of currencies in the global marketplace. It's the largest and most liquid financial market in the world, with an average daily trading volume exceeding $6 trillion. Unlike traditional stock markets, forex trading operates 24 hours a day, five days a week, spanning across different time zones. The forex market facilitates transactions between various participants, including central banks, commercial banks, hedge funds, corporations, and individual traders. Its decentralized nature means that trading occurs electronically over-the-counter (OTC), with no centralized exchange.