Forex is open 24 hours a day, 5 days a week, and currencies are traded worldwide among the major financial centers. The market opens on Sunday at 22:00 GMT, and closes on Friday at 22:00 GMT. The specific hours of each center are:
Sydney - 22:00 - 7:00 GMT
Tokyo - 12:00 - 9:00 GMT
London - 8:00 - 17:00 GMT
New York - 13:00 - 22:00 GMT

There are many factors that can affect or potentially affect prices in the foreign exchange market. These factors include economic and political events and announcements, interest rates, inflation rates and natural disasters, among others. There is no sure way to predict price movements, but some useful tips can be gleaned from the analytical methods implemented and shared by trading analysts.

It depends on how you intend to trade, whether you use leverage and how much capital you plan to risk. You can start by investing $250 or $50,000 - there is no limit to the amount. However, you must remember that increasing leverage also increases your risk level. Ultimately trading comes down to a trader's risk tolerance and risk management. Skilled traders can minimize risk and maximize profits through careful analysis, developing an effective trading strategy and prudent money management.

Forex is traded via a global network of banks in what’s known as an over-the-counter market – unlike stocks and commodities, which are bought and sold on exchanges. Because of this, you can trade forex 24 hours a day during market hours.

Forex trading is split across four main ‘hubs’ in London, Tokyo, New York and Sydney. When banks in one of these areas close, those in another open, which is what facilitates round-the-clock trading.

People trade currencies for lots of different reasons. You’ve probably traded a currency if you’ve ever bought goods overseas, for example, or gone on a vacation in another country. However, the vast majority of Forex trading is done for profit.

Currencies are constantly moving in value against each other. On any given day, the pound might be rising against the dollar, while the euro falls against the Swiss franc. Forex traders buy and sell currency pairs to try and take advantage of this volatility and earn a return.

For instance, if the pound is rising against the dollar, you might buy GBP/USD. When you buy this pair, you’re buying pound sterling (GBP) by selling the US dollar (USD). Then, if the pound continues to outpace the dollar, you can sell the pair to exchange your GBP back for USD and keep the difference as profit.