The foreign exchange market is the space in which the world currencies are exchanged for various purposes and is the most liquid market in the world, with a global daily turnover which exceeds $5 trillion. As a comparison, the daily trading volume on the New York Stock Exchange is over $20 billion. The foreign exchange, or shortly called Forex, is an over-the-counter (OTC) or off-exchange market that is decentralised and has no governing body. The quotations in the Forex are mainly based on supply/demand. Every time currency is exchanged for a foreign one, automatically you deal with the Forex market.