Forex, abbreviated as FX, is a word that describes the simultaneous selling or buying of currencies; it is an OTC (Over the Counter) Market transaction which operates 24 hours a day, 5days a week. Forex Markets are the largest financial markets possessing a trading volume of about $3 trillion per day. Forex trading operations take place in all the major financial trading centers all over the world; thus, these trading operations tend to overlap into the different time zones globally.