Forex trading is the conversion of a single currency to another. Also known as FX trading, it is one of the most active markets worldwide, attracting more than $5 trillion. It consists of a network of buyers and sellers. The forex market is a 24-hour trading platform. However, it is divided into different categories. The main categories include
- North American sessions
The Asian session is slow and tough to trade in compared to the European and North American sessions. Therefore, traders need to know the best forex pairs to trade in due to the low volume and high spreads characterizing the session.
It is important to note that the Asian session can be referred to as the Tokyo session. Japan is the third largest forex trading center making Yen the third most traded currency. It contributes 16% of all forex transactions.