Why Forex Trading Online?

How big is forex?
Forex trading online is the place where the exchange of foreign currencies takes place. It is one of the biggest markets in the world because of the trading volume that takes place each day. Forex trading online enables traders to trade from any part of the world.
There are no central or physical buildings for the forex market, making it one of the largest markets that work completely online. The currency trading in the forex market takes place through lots. There are mainly 3 types of lots present in the market, micro, mini, and standard lots. It works in the unit of currency like micro represents 1000, min 10,000, and standard 100,000.
In most forex trading online, trading takes place in currency blocks. It means that large-scale exchange of the currency takes place in the forex market. Each individual or firm will have their own trading account and each of these accounts will have a certain limit.
The traders can trade up to any limit that lie within this range. Trading on the forex market is so large that it is not as same as an exchange of $500 through the bank. It is the lots that determine your trading limit. For example, if you have 7 micro lot, then you can trade for 7000.
If it is 3 mini lots, you can do trading for 30,000. If you are having a standard lot of 75, then you can trade for 7,500,000. There are many reasons why the forex market stays unique from the rest of the markets. One of the reasons is its large size.
The trading volume of the forex market is the largest in the world. On a global average, it was found that on a single day, trading of around $6.6 trillion takes place in the forex market. So when compared to stock volume, the trading volume of the forex market is around 25 times more.