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Forex trading, also known as foreign exchange trading or currency trading, is the buying and selling of currencies with the goal of making a profit. It is the largest financial market in the world, with an average daily trading volume of $6.6 trillion according to the Bank for International Settlements. In this article, we will discuss the basics of forex trading, including the major players in the market, the mechanics of trading, and some tips for success. The Major Players The forex market is made up of several major players, including banks, corporations, hedge funds, central banks, and individual traders. Banks and corporations trade forex to hedge against currency risk, while hedge funds and central banks engage in speculation and intervention in the market. Individual traders, also known as retail traders, make up a small but growing portion of the market, thanks to the advent of online trading platforms. The Mechanics of Trading Forex trading involves buying one currency