"The Forex system in operation today was established in the 1970s when free currency exchange rates were introduced, this period also saw the US Dollar overtake the British Pound as the benchmark currency. Prior to this, and in particular during World War II, the exchange rate remained more stable. Forex trading in simplest terms is the buying of one currency and the selling of another. Forex trading, also referred to, as “FX” is open to corporations, small businesses, commercial banks, investment funds. and private individuals. It is the largest financial market in the world averaging a daily turnover of over $1 trillion dollars, making it a diverse and exciting market."